Luxtrack
Luxtrack (Luxify) is a marketplace for luxury goods leveraging blockchain technology to verify the authenticity and traceability of second-hand luxury items. Blockchain enables users to track the origin and prove the authenticity of luxury items in their vetted network of re-sellers.
Business challenges
The challenge was figuring out the best way to leverage blockchain technology to address luxury industry pain points and to create a full proposal on how to implement it, determine the right type of token for the client as well develop a full pitch deck including market research.
Technological challenges
Some of the questions raised were: Which blockchain platform should we use? Which type of Ethereum token should we use to represent luxury items?
Solution
Luxtrack uses blockchain technology to cryptographically store all relevant information to guarantee a data management architecture that offers the highest level of security, traceability, and transparency. Instead of opting for a central server-based data center, Luxtrack's decentralized register infrastructure decreases security risks to a minimum, while allowing easy and self-organizing control over the access to the information. In the deck presentation, we laid out specific technical solutions such as the ERC-721 non-fungible token to verify the authenticity of second-hand luxury items. Read more in our blockchain ecommerce case.
End result
Espeo consultants created an extensive report after in-depth market research, competitor analysis, and a technical feasibility study.
Technologies
We delivered
Blockchain consulting
Tokenomics
Testimonials
Espeo Blockchain developed a sustainable ecosystem that merges traditional and blockchain business.
Florian Martigny
Co-founder
Espeo Blockchain is a brand of
Espeo Software