This page dives deeper into IYK’s mission and explores our current capabilities. We believe the opportunity space is large for incorporating NFTs into the physical world. We hope to give you context and information to spawn further ideas you have.
How to think about our system: we are tokenizing physical objects and IRL behaviors.
Our IYK* tag permanently links a physical object to a corresponding NFT, its unique digital record. By scanning the tag, a person claims the linked NFT into their own wallet, removing it from the current owner.
Because the scanner has to be near the tag, we can be reasonably sure that the owner of the NFT possesses the item. This allows the NFT to serve as a digital proxy for ownership of the IYK*-enabled item.
Today, our relationship with physical goods is mostly confined to the physical world. Using clothing as an example, we can use a sweater for utility (warmth) or for self-expression (fashion). By tokenizing physical objects, we’re able to extend our relationships with physical goods into the digital realm. What does a “digital” relationship with a physical good look like? This is still uncharted territory (an entirely new category), but here are a few examples of what’s possible:
- Item-centric token-gated experiences
- Access to exclusive product SKUs
- Access to IRL events
- A communication channel with the brand / manufacturer
- Need to talk to customer support about a piece that was damaged?
Zooming back out, we believe this “digital” link allows for ongoing engagement with current owners and can be used to build membership networks and rewards systems on top of physical things in a way that’s never been seen before.
- Why can’t I just stick a QR code onto the item?
- QR codes can easily be shared, meaning we cannot use them as a proof of ownership/proximity. The links emitted by our IYK tag are dynamic and expire immediately after use.
- Does the current owner need to approve the removal of the token from their wallet?
- No. All the power to transfer the linked NFT is passed to the tag—scan the tag, and you’re able to transfer the NFT to your own wallet.
- GMI Hoodies for Index Coop x Bankless
- Hoodies for OlympusDAO
- Hoodies for Purrnelope’s Country Club
- Owners of Purrnelope’s NFTs were airdropped free tokens which could either be redeemed for a share of the project’s community NFT treasury, or for an IYK-connected hoodie.
- Hoodies for Incognito
- Owners of Incognito NFTs with the “hoodie” trait were gifted a linked IYK hoodie, which unlocks:
- A linked metaverse wearable for Decentraland
- Access to an exclusive messaging channel on Discord
- Owners of Incognito NFTs with the “hoodie” trait were gifted a linked IYK hoodie, which unlocks:
Our IYK* tags can also be used to mint NFTs for memorializing attendance or participation in the real world. Whether the behavior is attending a concert, completing an obstacle course, or eating a bowl of ramen, the NFT serves as verifiable proof that you performed a certain IRL action.
Today, it can be hard to know if an action in the real world actually happened. Did someone actually show up at an event that they registered for? Even when these actions are tracked, this data is often held by gatekeepers such as ticketing companies. It’s incredibly difficult for artists and event organizers to access first-party data about their attendees, but having it opens up so many possibilities for fan engagement.
By introducing a digital representation of an IRL action, we’re able to retarget and reward people based on that action. Incentivize trying new signature dishes, recognize top concert attendees, and more. The NFT is confirmation of the fact that they were there, and can also be worn as a badge of honor within fan communities.
- VÉRITÉ Guestbook
- We deployed this system during VÉRITÉ's recent Fall Tour. You can see all of her concerts in a single collection on OpenSea. Note that the NFT metadata enables filtering by city / event type. We also collected email addresses and fans were able to leave her a private message (providing value for fans who didn’t care about NFTs).
- QR-code based solutions aren’t secure enough as they can be photographed and shared, and thus can’t be trusted for future rewards and membership use cases.
- Links
- NFT.nyc Scavenger Hunt
- During NFT.nyc, we ran a "scavenger-hunt" where people needed to find one of our tablets each day of the conference to mint a puzzle piece as an NFT. After collecting all puzzle pieces, participants could connect their wallet to the "puzzle solver" website where they had to drag-and-drop the pieces to complete the puzzle. After successfully submitting the puzzle, users were eligible to receive rewards through verifiable on-chain raffles.
- Memorializing the search for the puzzle piece as an NFT allowed us to gamify and reward the collectors, as well as help drive foot traffic to community events around NFT.nyc.
- Links