Azuki NFT Introduces Physical Backed Tokens By Launching Golden Skateboards!
Azuki NFT Introduces Physical Backed Tokens By Launching Golden Skateboards!
Recently, one of the biggest NFT collections in the space has announced some exciting news in relation to a new system they are setting up as well as their newest product launch!
The Physical Backed Tokens
On Twitter, the Azuki team announced the launch of their new ‘Physical Backed Tokens’ or PBT for short on the Ethereum blockchain. This system will be used by the team in order for investors to start being able to link real-life physical items to digital tokens through a ‘scan-to-earn’ mechanism.
Introducing the Physical Backed Token (PBT): an open source token standard tying a physical item to a digital token on the Ethereum blockchain. pic.twitter.com/iXavmJR5xv
— Azuki (@AzukiOfficial) October 17, 2022
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This new system will be done through what the team calls the ‘BEAN chip’, a physical cryptographic chip that self-generates an asymmetric key pair when scanned.
“Digital tokens representing physical items already exist, but the two are often decoupled after the mint.” The team wrote, “PBT is a standard which features decentralized authentication and tracking of the ownership lineage of physical items, completely on-chain and without a centralized server.“
In terms of reselling the physical items, the new owner will simply be able to scan the BEAN chip on the item, which will in turn transfer the PBT from the previous owner to its new one.
New Golden Skateboards
With the announcement of their new PBT system, Azuki has also announced the launch of their newest upcoming product line, real-life physical skateboards.
Referred to as the ‘Proof-of-Skate’, this new product is made up of 9 special, limited-edition golden skateboards, custom made and fully plated in 24K gold and fully functional to use.
Azuki has crafted a limited edition series of nine Golden Skateboards: custom-designed, precision-milled, and fully plated in 24K gold.
Each Skateboard is fully functional and depicts an exquisitely detailed golden dragon. It also weighs 45 lbs. pic.twitter.com/lMcWNWL4Nn
— Azuki (@AzukiOfficial) October 17, 2022
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These new limited-edition skateboards will be the first Azuki product to implement their new PBT technology, with each of the nine skateboards being engraved with a unique emblem and BEAN Chips which buyers can scan to earn their PBT.
Auction for these golden skateboards will begin on Friday, October 21st on the Azuki official website.
With this new line of extremely high quality and limited-edition products along with being the first to try out their new Physically Backed Tokens, many in the community are understandably extremely excited about these new reveals.
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