Crypto startup DNA proposes to protect the ownership of luxury goods with blockchain

UK-based startup DNA has launched a tech solution to help address the growing problem of counterfeit luxury items in retail sales.

The DNA team assures that the technology will make almost any physical product instantly verifiable. The solution is based on a digital DNA passport (Native Asset), which is protected on the Kadena blockchain platform and contains in chronological order the history of the transfer of ownership, as well as other important information about the product.

For luxury brands, the DNA Passport creates a new and more meaningful connection with consumers that lasts throughout the lifecycle of a product.

The technology allows brands to tokenize the luxury goods they sell to fight counterfeiting, and empowers companies to promote products and reward their owners for loyalty.

DNA has designed its technology with mass adoption in mind, encouraging brands to migrate to Web3 services without having to build their own “big and complex” blockchain infrastructure.

In 2021, three luxury goods manufacturers – Louis Vuitton, Prada and Cartier – teamed up to fight counterfeiting and verify the authenticity of goods using the blockchain. The collective effort is to give customers the confidence that the products they buy are genuine.