RAGS Tags: The State of NFC Tech
The current state of NFC technology and how RAGS is pushing its utility into the future
THE NFC TREND: EXPLAINED
If you’re a fashion or crypto enthusiast and haven’t heard about the trend towards NFC-chipped merch then you’re in luck. We’ll explore what value NFC’s bring to merchandise, what they bring to physical items as a whole, and how RAGS is taking this technology one step further. We’re building a future proof solution, something that will change not only the web3 scene, but the entire world of merchandise.
NFC’S FOR DUMMIES:
NFC stands for Near Field Communication, most commonly it’s a chip capable of storing and transmitting small amounts of information. Tapping via a smartphone or NFC reader activates the chip and transmits the info to your reading device. You’ve used it in credit cards and mobile payments, but it can be used for much more.
THE STATE OF WEB3 MERCH:
Web2
Bored Apes, Creatures, Doodles… all the biggest projects in the NFT space have been releasing merchandise. Usually this looks like a basic logo hoodie / tee. A base level of merch that has been the staple since hoodies were invented. Their fans love it, as they should, they get to represent brands they love in a way that looks cool.
Web2.5
RTFKT, 9dcc, Purrnelopes Country Club… these Web3 brands have been experimenting with NFC-chipped merchandise. They’ve used the technology to direct users to a website that links them to the tokenized digital version of their purchase. This is a great step, but reveals its flaws when that link changes, becomes unserviceable, or the brand decides to stop supporting it.
True Web3
We’re taking it one step further with NFC chips that are truly decentralized. Our RAGS Tags are cold storage wallets, they have their own unique Ethereum address and hold assets directly on chain. Additionally the NFT is Soulbound to your physical chip, locked and non transferrable, making that chip or anything it's attached to, a direct representation of the digital asset. We’ll be exploring this and more, in depth in future articles.
Furthermore when you scan to authenticate you won’t be pointed to a centrally held link, but rather to the blockchain verified NFT. Your product will be verifiable as long as the Ethereum blockchain is running.
The future of streetwear is Soulbound.
THE BENEFITS:
Authenticating Merchandise:
Global Brand Counterfeiting Reports $1.82 trillion in counterfeit products in 2020. By leveraging the power of our RAGS Tags we're finally able to get rid of the rampant counterfeit and bootleg market. Any product enhanced with RAGS Tags, with a tap of your phone, can ensure it’s the real deal. The proof is on the blockchain.
Live Events:
Perhaps the most exciting use-case for phygital garments is in-person experiences. Whether you're event-hopping at NFT NYC, or walking into your favorite retail clothing store, RAGS Tags can radically improve your experience. Imagine walking into an event without tickets or wallet, you head straight into the VIP section with the scan of a chip on your sleeve. You might even see exclusive merch there, discounted for holders. With a soulwear garment, you could prove ownership, pay for the merch, and gain a digital reward with one tap.
Exclusive Content:
RAGS Tags can also be used to provide exclusive content alongside your merch. This new innovation for clothing companies, can be used to reward consumers and increase brand loyalty radically. Bands can add exclusive album artwork to their RAGS Tags, teams can add their schedule & roster to this year's kit for their fans, and retailers can add customer loyalty perks like discount codes and game tickets.
It's a win-win-win for everyone, and the possibilities are endless.
TLDR:
With RAGS Tags, brands and customers can now leverage the benefits of the blockchain into their clothing. We increase customer participation, consumer ease of use, and destroy fakes and frauds along the way. While others build centralized and fragile solutions we are pioneering a true bridge of physical merch and digital ownership. The future is coming, and our RAGS Tags are leading the way.
To learn more about RAGS Tags, please visit Rags.cool.