The objective is to replace the physical warranty and have block chain based warranty using NFT which will ensure
authenticity and security.
● Converting ownership authenticity and product warranty cards into decaying NFTs.
● For instance, allow brands and retailers to introduce an NFT for each of their products, which allows
customers to receive the physical product along with a digital version of it.
● Customers can then use the digital NFT to verify the authenticity of their product, prove their ownership of
their product, and transfer ownership of them upon resale.
● The brand/retailer should also be able to tie the digital NFT to its warranty program, allowing owners to track
repairs and replacements to the original item.
● Decay the NFT once the warranty is over.
● You can use the Polygon blockchain to deploy your solution and demo the final product as a web prototype
Example on the Klatyn Chain - Korean retailer issues blockchain warranties as NFTs for luxury items - Ledger Insights
What are we expecting:
● The blockchain smart contract should allow users to prove ownership
● Provide the purchasing history, warranty period, and other item information
● The warranty card should include the item’s serial number and upon purchase be sent to the customer’s
smartphone.
● The NFTs should be decaying in nature, in that, after a certain period their use for the redemption of warranty
benefits offered by the brand/retailer will expire
● Bonus - GUI-based tool that doesn’t require knowledge of any Blockchain programming to use by Brands and
Retailers.
● Bonus - Usage of Soulbound NFTs
● Bonus - Add any engagement/gamification construct to the loyalty program