Creation
Non fungible tokens have been the face of mainstream crypto adoption for a few years, but the real potential still remains largely untapped. So far the main focus has been on tokenizing art via NFTs, while this enables a lot of interesting use cases there are a lot more, with potential to transform our daily lives in many ways.
At their core non fungible tokens are about identity, either the identity of a specific object
(like a piece of art), or of a person (personalized ticket or certification). So any case where we would like to keep track of a unique object or person via the blockchain, has great potential as an NFT project.
We offer a full service in regards to NFT projects. If the project is more complicated than just creating a few Art NFTs, it will need a comprehensive plan and likely a website or app for users to interact with the NFTs on the blockchain.
We provide services at every stage of the project lifecycle, from conceptualization to development to maintenance and support. With Distech Solutions your NFT project will be in good Hands!
Please review our Project examples below to get a better Idea of what is possible.
(like a piece of art), or of a person (personalized ticket or certification). So any case where we would like to keep track of a unique object or person via the blockchain, has great potential as an NFT project.
We offer a full service in regards to NFT projects. If the project is more complicated than just creating a few Art NFTs, it will need a comprehensive plan and likely a website or app for users to interact with the NFTs on the blockchain.
We provide services at every stage of the project lifecycle, from conceptualization to development to maintenance and support. With Distech Solutions your NFT project will be in good Hands!
Please review our Project examples below to get a better Idea of what is possible.
Use Cases
Software Licenses
Like many interesting use cases for NFTs the core problem to be solved here is one of identity. This can be done better with an NFT than any account based solution. Login credentials can be shared, however if there is just one NFT for the user that represents the software license for that user, we can make sure that only he can use the software by requiring him to make a transaction with the wallet which has the NFT. For instance we could transfer the NFT while the application is in use and transfer it back afterwards. This way only one user at a time can use the Software with one license and it is secured via his personal private key (Though other schemes might make more sense depending on the blockchain used). The NFT will have all the information about the license attached, like duration, licensee and so forth. Once the license expires the NFT is invalidated and a new one needs to be purchased.
This personalised access scheme would be possible without collecting any sensitive information about the user (Name, ID Card, etc.), as the identity can be confirmed via controlling the NFT with the private key of the wallet holding it.
This personalised access scheme would be possible without collecting any sensitive information about the user (Name, ID Card, etc.), as the identity can be confirmed via controlling the NFT with the private key of the wallet holding it.
- License is transferred via NFT to wallet, nft has metadata about license duration etc.
- User verifies himself as legitimate via a transaction issued from the wallet holding this NFT
- Once license expires NFT is invalidated, access to software is revoked
Ticketing
In this use case we are selling event tickets for different kinds of events. The first type of event is selling personalized tickets and will check the customers identities to make sure that only the registered attendees are able to join the event. The second type of event is not personalizing tickets, but needs to make sure to prevent bad actors from buying up large quantities of tickets and reselling them on the secondary market for profit.
For the first type of event we can mint an NFT for each ticket purchase and attach a picture of the ticket to it, which includes the attendees information and a QR code. Upon entering the event, the attendees can open their wallet applications on their phone and show their tickets NFTs. The Doormen can then scan the QR code on the ticket and verify the attendees identity before admitting them.
For the second type of event we need a custom application, which attendees need to use for booking and redeeming their tickets. To buy a ticket they need to connect their wallet to the application and purchase the ticket. Our application now mints the desired amount of ticket NFTs, sends them to the connected wallet and saves which NFTs were sent to which wallet. Upon trying to enter the event the attendees will use the “redeem” function of the application to send their ticket NFTs back to us. Our application verifies whether the NFTs originate from the correct wallet. If not they are not accepted, as we know that the ticket NFTs must have been resold. This way one person can purchase multiple tickets for a group, without specifying the exact people who will be entering and the group must enter together with the person whose wallet holds the NFT tickets. This way resellers will be thwarted and tickets will still be anonymous, not requiring the attendees to share any personal information.
For the first type of event we can mint an NFT for each ticket purchase and attach a picture of the ticket to it, which includes the attendees information and a QR code. Upon entering the event, the attendees can open their wallet applications on their phone and show their tickets NFTs. The Doormen can then scan the QR code on the ticket and verify the attendees identity before admitting them.
For the second type of event we need a custom application, which attendees need to use for booking and redeeming their tickets. To buy a ticket they need to connect their wallet to the application and purchase the ticket. Our application now mints the desired amount of ticket NFTs, sends them to the connected wallet and saves which NFTs were sent to which wallet. Upon trying to enter the event the attendees will use the “redeem” function of the application to send their ticket NFTs back to us. Our application verifies whether the NFTs originate from the correct wallet. If not they are not accepted, as we know that the ticket NFTs must have been resold. This way one person can purchase multiple tickets for a group, without specifying the exact people who will be entering and the group must enter together with the person whose wallet holds the NFT tickets. This way resellers will be thwarted and tickets will still be anonymous, not requiring the attendees to share any personal information.
- Personalized concert tickets via NFTs to prevent bad actors from obtaining a lot of tickets and reselling on the secondary market
- Option 1: Personalized NFT based tickets that do not require identity documents or customers personal information
- Option 2: Personalized NFT based tickets that include full name and id card number
