Buyers of a premium limited-edition gin distilled in Austria will be able to verify a bottle’s authenticity and track how many remain available for sale by using their NFC phone to scan a crypto-enabled NFC chip fitted to the label.
Blockchain developer Block42 will fit 999 bottles of the limited-edition gin distilled by Austrian company The Stin with the NFC chips and enable tracking using the South Korea-based Icon blockchain.
“In order to connect the gin bottle (the physical world) to the blockchain we need an interface,” Block 42 explains.
“We decided to use a high-security NFC chip with crypto functionalities like storing a private-public keypair and creating signatures, which will be attached to the bottles.
“The assets will be registered on the blockchain before the official launch of the sale so that we, as the issuer, cannot manipulate the amount of the bottles afterwards.”