Chronicled: Sneaker Authenticity using NFC and Blockchain
Aug 26 2016
"Our network of sneaker experts, retail, and brand partners are adding tamper proof Smart Tags to every pair of authentic sneakers.
The tag is registered to the Ethereum blockchain. When you scan the tag with your phone it checks the registry to verify that the chip in the tag is authentic. If it checks out, the app on the phone shows that it’s an authentic pair, shows the sneaker, shows the provenance of the item—released by Nike, sold at Undefeated, claimed by Kobe Bryant, transferred to so and so. We can start to track the provenance or history of an item. It looks almost like a Carfax for a sneaker. "
+ The company raised a $3.4M Seed round in March
+ In the collectible sneaker segment, some estimates suggest that 75% of sneakers on eBay are fakes.
+ The Chronicled blockchain is currently based on Ethereum. The tags use either NFC or BLE.