October 3, 2024 2:37 PM
XenTag is providing brands and creators with a unique solution to break creative barriers and introduce superior, limited-edition products into their product lines. After ten years in the GPS and telematics solutions industries, CEO Vishal Singh and his team discovered the convergence point between blockchain and NFC technology as a tool to combat counterfeiting, safeguard authenticity and enable truly one-of-a-kind products.
“The potential of NFC technology is massive,” Vishal said, “and we saw an opportunity to solve real-world problems in an innovative way. Counterfeiting was a major pain point… [but] our solution goes much further, giving brands and creators the opportunity to design unique, limited-edition pieces that carry real value.”
Breaking into the industry
Starting XenTag wasn’t easy. It prides itself on being a company willing to take up the challenge of harnessing the complex combination of NFC and blockchain technologies.
“Unlike common NFC tags,” Vishal continued, “our tags are backed by blockchain, ensuring each xentag is bullet-proof secure and non-fungible, a unique digital identity that is used to certify ownership and authenticity. This makes a critical difference in the collectibles market, where the authenticity and rarity of each individual item is directly tied to its value.”
To make the solution viable, they worked hard to ensure that it was scalable, affordable and easy to integrate into product lines. They also needed to give the end users a simple and frictionless experience. They have created a user experience requiring no blockchain knowledge or crypto wallets. All the end user has to do is tap a product’s built-in xentag with their phone to open a powerful yet simple and familiar user experience.
A focus on creatives
Jae Tips x Johnny’s Kicks Custom Saucony Grid Shadow 2 “What The Savior”
XenTag emphasizes its commitment to incentivizing remarkable collectible products by enabling creators to earn royalties on items that are resold on the secondary market. When a brand or creative makes popular limited-edition collectibles, this feature rewards them with continued potential to earn revenue. In turn, this encourages them to keep products “alive,” by adding exclusive content, perks and rewards to the xentag’s digital experience that build lasting connections with their fans and owners, and add value to their collectibles.
SneakerCon NYC collaboration
To demonstrate the effectiveness of their technology, XenTag collaborated with some of the hottest sneaker designers and artists at Sneaker Con NYC to showcase how they can elevate collectible streetwear and footwear.
Johnny’s Kicks at work in his studio customizing the Saucony Grid Shadow 2 “What The Savior”
“Johnny’s Kicks and Jae Tips bring their artistic flair and cultural influence to design sneakers that are more than just footwear,” Vishal said. “They’re statements of identity, and in this case, the power of creative collaboration.” Jae Tips is the designer behind the coveted Saucony Grid Shadow 2, and Johnny is a sneaker artist who deconstructed and rebuilt a pair with rare materials into something absolutely unique–a prized quality for any sneakerhead. This is a significant move in the collectibles market, where sneakers like these often sell for thousands of dollars.
Vishal was energized by the excitement surrounding XenTag’s entry into the sneaker superfan community: “This pair of xentagged sneakers whipped up a frenzy of hype during a stage event with its creators at Sneaker Con New York, and we can’t wait to see how they’ll trade in the secondary market.”
Sneaker Con’s trading pit where sneakerheads buy and sell rare collectible sneakers
The future of XenTag
The minds behind XenTag see brands and creatives completely reimagining their product lines, reaching into any realm where pop culture and collectible products intersect. The demand for Xentag from product designers is snowballing, and Xentag has the fortunate position to set the market momentum that shows their solution off the best. They are canvassing for those brands and creatives with superfan communities primed for collectible products. In return, they collaborate closely to ensure the smooth integration of xentags into their products.
“We aspire to help brands not just push the boundaries of product design,” Vishal remarked, “but the design of an entire community-driven experience around those products, turning them into highly coveted collectibles, and changing how we own the products we love.”
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Source : VentureBeat