Offline Use Cases
We believe that in the near future, a convergence between the online and offline worlds will occur, with the use of NFTs becoming ubiquitous throughout daily life. Consequently, there is an immediate need to provide a mechanism allowing individuals to securely and easily prove token ownership. Consumers must be able to provide ownership proof while preserving the safety and privacy of token-holders along with their digital asset collections.
Offline adoption of Tokenproof will initially commence with crypto/NFT-focused events and conferences for early adopters. However, we believe that established brands entering this space will increasingly want to provide exclusive benefits to audiences holding their tokens (e.g. retail shops, product launches, brand activations, or exclusive physical events.)
Digital asset ownership provides established brands with unique opportunities to engage with consumers using new marketing initiatives. As an example, businesses validating consumer ownership of a particular set of tokens could provide a method of segmenting their customer base for targeted offers. In this new converged world, third parties will require simple, practical tools to perform validations, while consumers will require mechanisms to protect their privacy and secure digital assets.
The transparency provided by the blockchain allows anyone to view the tokens held by an Ethereum account. Our commitment to user privacy recognizes the growing need to support an economy based on pseudonymous identity. Therefore, when Tokenproof is used to verify token ownership, the user’s Ethereum account is not disclosed to the verifier, preventing unintended correlation of real-life identity with the Ethereum address of the Tokenproof holder.
It is likely that we may begin to see many credentials used throughout daily life becoming tokenized as organizations recognize the benefits of token-based digital assets. For example: building keys, driver's licenses, loyalty program memberships, or transportation tickets. The possibilities for token-based credentials are endless, and Tokenproof is the technology that’s ready to support this vision.
Event organizers can now sell or issue tickets to events in the form of NFTs on the Ethereum network. Tokenproof enables attendees to use their Tokenproof wallets to gain access to token-gates at the event, without requiring them to touch their Ethereum wallet where the actual tokenized ticket is held.
Organizations can now choose to tokenize the credentials that they provide to members. For example: fitness clubs, universities, or co-working spaces may leverage token-based credentials allowing members to access facilities, meals, or other benefits. Tokenproof can be used to validate membership while protecting the privacy of the member.
Businesses with existing loyalty programs can now tokenize program membership credentials. For example: airlines, restaurant chains, or entertainment venues. Tokenproof can facilitate the verification of tokens by allowing members to display a QR code on their mobile devices.
Established retail brands will soon offer exclusive benefits to holders of certain tokens or NFTs. Retailers can choose to create their own tokens, or offer unique benefits to third-party token holders. Tokenproof can be used to securely facilitate access and verify eligibility for benefits.
Owners of physical locations or shared facilities can tokenize keys and passes used to access these spaces. Tokenproof will enable individuals to use tokens to gain access to office buildings, hotels, or Airbnbs with less friction.