A digital replica is built and a unique identity is assigned to it before being loaded onto a blockchain system, giving users the ability to preserve the objects and their linked memories forever.
Dubai-based company, Stonses, has introduced a unique new way to preserve memories of loved ones, leveraging NFT technology as physical interactions, which users can attach to any object that holds emotional significance to them. A digital replica is built and a unique identity is assigned to it before being loaded onto a blockchain system developed by Verofax, giving users the ability to preserve the objects and their linked memories forever. With the possibility to link NFTs created by friends and family, these digital replicas can be made public or private, with full control over who can create memories or just have read access. Scanning the QR tag instantly brings the object and its associated memories back to life.
"When an object is replicated or digitally combined with certified content, its replica is called a digital twin or non-fungible Token,” said Wassim Merheby, CEO of Verofax. “The first NFT project was launched in 2015 on the Ethereum blockchain, but today assets and belongings can be tokenized digitally by making use of blockchain technology, which helps establish ownership and identity and seamless conditional transfer among user wallets.”
Verofax's blockchain-based asset management platform platform is also being utilised for a range of other use-cases in different industries. For instance, some retailers are using the solution to create digital identities for their products that include information relating to their origin, composition and sustainability.
Stonses’ utilisation of its direct-to-consumer interface to preserve memories and assets coupled with its ability to enable easy asset transfer and content access opens the door for a wealth of new possibilities for the startup as it forges a new and exciting path.