Physical NFT Creation

You can mint an NFT for any physical asset be it a painting, a rug, a car, a house or really anything that physically exists.

Once an NFT is minted for physical assets it can be redeemed by the respective purchaser at any time. Physical NFTs can be resold in the same manner as a digital one.

These NFTs are digital of course but can be presented physically in the form of a barcode or a QRCode or any other device in which it can be encoded and can be traded in place of a physical item. Physical NFTs are starting to bloom in our society. They are revolutionizing the concept of trusting a third party without the involvement of the intermediary.

Buyers are claiming the rights of ownership and authenticating the Identity or any fraudulent transactions that happen in regards to their assets using NFTs.

First you create an NFT for a physical asset then you list it in the marketplace after which you can trade your NFT or sell it. The purchaser of the NFT can then redeem it for the actual physical asset.

In order to assure the buyers and sellers of the physical NFT process we have created a trusted system using an escrow service.

The purchaser deposits the funds for the physical NFT with the escrow service and after the seller has shipped the physical item and submitted the tracking number the escrow service will release the funds to the seller. There are third party inspection services available for purchasers that wish to audit the physical item before it is shipped. Let it be noted that the cost for shipping of the physical item and third party inspection if required will be paid for by the purchaser.