Warranty providers today are still dealing with the three critical challenges of the industry: protecting against fraudulent claims, detecting counterfeit products, and deciding on the status of coverage. Businesses are becoming increasingly complex with more vendors, dispersed manufacturing facilities, new distribution channels, and disruptive business models to make matters worse. It’s small wonder then that the processing and administration costs of warranty keep on rising. A study by IBM found that in the electronics industry, only one-third of the warranty costs go towards repair or replacement of defective goods, with two-thirds being spent on processing and administration.

Our project solves this problem by decentralizing warranty. We make save warranty as a NFT. With this approach we can see all the details regarding the product. Also verifying it will also be easier. In the future features, we have plans to include analytics regarding the product performance based on the the overall resale time, repair frequency etc.