Now that the summer break is over we are excited to announce the latest plans for NFT Workx. I would go and put the kettle on and make yourself comfortable as this is quite a long one!
As the global markets continue to struggle through this very turbulent time, with inflation rising and the ongoing energy crisis, the world of NFTs, Crypto and the wider Stock Market are all suffering as a result.
With this in mind, NFT Workx as a business has decided to focus all of our energy and efforts on the development of our platforms and we will therefore not be launching any new client NFT projects for the time being.
This decision has enabled us to accelerate the development of the Asset Workx and Brand Workx platforms which is all very exciting!
Introduction to Asset Workx
Asset Workx aims to be a global leader in creating digital records for proof of ownership and authenticity of luxury goods, via NFTs on the blockchain. By providing an accessible solution for brands and retailers at point of sale and an easy to use app for individuals for the resale market, we will help to secure these assets, build trust, reduce counterfeiting and fraud.
– Asset Security: many people fail to organise and manage their physical assets when it comes to proof of purchase, receipts, guarantees, warranties, certificates etc.
– Counterfeiting: is on the rise and is projected to exceed $3 trillion in 2022.
– Luxury goods: remain among the most popular product categories for counterfeit goods, sold both online and in physical marketplaces. The global luxury resale market in 2021 was valued at US$32.61 billion, and is likely to reach US$51.77 billion by 2026.
Enabling brands, retailers and individuals to digitally log and record the details of luxury goods as NFTs on the blockchain, will help to change the way we manage and secure our personal physical (and digital) assets.
Accessibility is key for easy retailer adoption. No QR codes to print out, no complicated systems to implement. Brand Workx will provide a simple plug-in for the most popular POS systems (Square/Shopify). All data from the sale will be automatically and securely sent to the Brand Workx system that will then create a digital asset log as an NFT, which is then transferred to the purchaser.
Asset Workx App
Individuals will have access to the easy to use mobile App that will enable them to organise and secure their current and new physical and digital assets. The digital asset log (NFT) can include evidence of the purchase including make, model, serial no, date codes, receipts, certificates, warranty, guarantees, photos and videos and will provide a secure and immutable record of ownership.
These asset logs can be securely shared with insurance companies and potential buyers. If the item is sold in the future the asset log can be transferred to the new owner.
Users will also be encouraged to validate their identity to help build trust in the ecosystem, helping to reduce the risk of counterfeit and stolen goods within the resale market.
The Asset Workx and Brand Workx ecosystem will be powered by the WRKX token which rewards and incentivises its users and community.
Users will receive WRKX Credits for product trials, platform tasks, platform usage and referrals.
The WRKX token will also be used for transaction fees for the ‘Minting’ and ‘Transferring’ of the asset log NFTs in the future.
Asset Workx App
Our development team have been busy working on the Asset Workx App and we will have the first test version ready in the next couple of weeks and so WE NEED YOUR HELP!
We would really appreciate it if you could download, install and test the app out and ‘Add an Asset’ – you will also get some bonus WRKX credits for doing this. Then all we ask is for your honest feedback and any suggestions or issues you come across.
We will contact you again as soon as the App is ready for testing 🙂
World Blockchain Summit Dubai
NFT Workx will be exhibiting at World Blockchain Summit in Dubai on 17-18 Oct 2022 at Atlantis, The Palm, Dubai.
Here we will be promoting the Asset Workx and Brand Workx platforms to investors, retailers and users. For any of you who live in the UAE come and visit us!
For those of you who can’t make it, don’t worry, we will have lots of video footage and photos and will send an update about the show in our next newsletter.
So that’s it for now, as always we want to thank you, our family, our friends, our investors and the wider community for joining us on this exciting journey and for your continued support.
If you have any questions please feel free to get in touch.
The NFT Workx Team 🙂