IoT sensor-based blockchain technology provides NFT authentication via smartphone | Article
During the recent CES in Las Vegas, Authena AG, a leading provider of NFT certificates of ownership and ‘phygital’ authentication at the single SKU level, introduced M3TA™, which provides certificates of authenticity and ownership via NFTs linked to their physical twin.
Based in Zug, Switzerland, the company began by protecting the authenticity of physical goods in the pharmaceutical, food and luxury markets with its Authena Shield™ and Authena L1VE™ technology. M3TA™ is the next evolution of the company’s commitment to provide the authenticity connection for manufacturers and producers to secure the bridge between their physical products and digital twins, it said.
It believes that QR codes, holograms and barcodes can be easily copied, meaning that product counterfeiting and counterfeiting continue to cost industry hundreds of billions in lost revenue and put human lives at risk by promoting exploitative forced labor that diminishes global ESG goals. In the past, all objects were physical, but the explosion of cryptocurrency, avatars and digital art has brought with it an explosion of digital objects.
“In the future, all objects will have a physical soul and a digital identity, creating the new ‘phygital’ universe,” said Matteo Panzavolta, founder and CEO of Authena, talking about the future of NFTs, Web3, digital twins and the metaverse. “However, these phygital objects are vulnerable to attack, leaving consumers vulnerable to counterfeit physical products and unknowingly buying fake NFTs, rendering them useless. Authena solves this for the consumer at the touch of a smartphone,” he says.
Using powerful, sensor-based, IoT blockchain technology, Authena’s technology puts the power of product authentication at the single SKU level in the hands of the consumer. It allows companies to track all supply chain touchpoints, including environmental conditions, geo-tracking, border crossings, rough handling and offers NFT authentication with metaverse portability across multiple vertical industries, it claims.
Using M3TA™, Authena worked with Adidas and FIBA’s Serbian Red Stars team to exploit the full potential of Web3 by providing VIP fans with NFTs for an authentic signed jersey after the EuroLeague match against Real Madrid in January 2023 – a trend that will be de rigueur’ in the future of sports, it says. The company also works with leading brands in pharmaceuticals, wine and spirits, fragrance and cosmetics, luxury goods and industrial applications.
According to the company, the Authena L1VE™ has the smallest rechargeable tracker at the single SKU level and monitors in real time in 185 countries; Authena M3TA™ provides authenticity and ownership certificates via NFTs linked to their physical twin; and Authena Shield™ is an end-to-end authentication platform integrated with physical-digital seals that provide security and authenticity for physical products.
This article was created in collaboration with AIPIA (Active and Intelligent Packaging Industry Association). Packaging Europe and AIPIA join forces to bring news and commentary about the active and intelligent packaging landscape to a wider audience. To learn more about this partnership, click here.
