✅Authenticating RWAs with SHOPX and NFCs

The SHOPX protocol integrates real-world assets with Near-Field Communication (NFC) chips to establish secure, traceable links between physical items and their digital counterparts on the blockchain.

This process is pivotal for ensuring authenticity and combating forgery across various sectors. The protocol's decentralized inventory database revolutionizes product search and distribution, reducing reliance on major tech platforms by reclaiming fees.

Additionally, NFC technology facilitates precise tracking of products through the supply chain, from manufacturers to retailers, by representing different stages with smart wallets. Integrating NFC chips into physical items creates a system for linking physical items to their digital counterpart, their NFT. Unlike a barcode, serial number, or SKU, the NFT connected to the NFC chip is universal, unique, immutable, and impossible to fake or copy.

Using NFTs in e-commerce is an advanced form of UPCs and unique item serialization. Currently, there are three primary types of product identification: Universal Product Codes (UPCs), serial numbers, and SKUs.

• UPCs are a global standard that retailers can use to identify different product types using barcodes. Barcodes cannot track individual items; they only track what the item is in general.

• Serial numbers are unique codes that can track individual items. However, there is no global standard, so unless each link in the supply chain shares a database, serial numbers cannot be recognized from company to company. Serial numbers can also be replicated.

• SKUs identify product types and can only be recognized internally by each company. They are not universal and cannot track items individually.

NFTs incorporate the strengths of all identification methods without the weaknesses of either. They are universal, can track items individually, and cannot be replicated.