NFT for Real World Inventory Assets
In January, www.Databased.Finance successfully minted the world’s first Non Fungible Token (NFT) for verified-inventory-based financing on the Ethereum Blockchain via Centrifuge.io.
Using verified data provided by www.Track.one Databased Finance purchased $52,728 of inventory and financed it using DF1DRP ‘DROP’ risk-averse and DF1TIN ‘TIN’ risk-taker tokens that were exchanged for DAI.
Using the historic sales price and volumes for each item purchased Databased Finance calculates a fair value for the inventory. The Seller then pays for limited exclusive rights to sell the items on Amazon. Each brand pays fees based on their brand ranking and risk category within the finance pool. The Drop and Tin tokens accrue value from the stream of income from the Sales Fees with a smart contract managing the allocation of payments.
As all the data can be viewed via Centrifuge’s TinLake platform both brands and their DAI backers can see the pool size, the NFT’s issued and the returns they generate for Token holders.
This innovation represents an evolution in financing, moving the world one step closer to providing fair returns to investors and fair priced financing to small and medium sized business that are currently poorly serviced or taken advantage of by traditional finance. By verifying the source data that is locked into the NFT all parties can proceed with a level of trust that wasn’t previously available within the world of decentralised finance.
For more information see www.databased.finance
