The usual practice of warranty being issued in the physical form leads to loss of warranty card due to various reasons like misplacement, theft etc. There must be a better way of issuing and keeping track of issued warranty cards so that the consumer can get proper service and protection for their purchase.
Sellers can easily issue warranties by setting Order ID, Buyer Wallet Address and Expiry Date as Metadata for the NFT and issue it as a Pending Warranty. This feature does not need the knowledge of coding. We have also used the concept of Soulbound NFTs by making the Keccak256 Hash of the Owner ID and the Product ID and making it a part of the metadata of the NFT. The seller can also track all the pending, active and expiry warranties issued by him.
After the Warranty is added to the Active Warranties of the Buyer, the buyer can transfer ownership as well in case of Resell of the Product in which the Current Owner needs to put in the New Owners Wallet Address after which it is issued using the same hashing method and then the new owner needs to proof ownership in a similiar process as the previous owner.
In the case that the current time is greater than the Expiry time of any Product Warranty the Burn Function qutomated using Gelato Ops executes itself which in turn burns the NFT and the Warranty is moved to the Expired Warranty section of the owner. However, the Owner can still use the platform to see the history of purchases of the product.
The buyer has to put in the details manually on the platform now. This limitation can easily be overcome by implementing a marketplace for the customer to shop for and the seller to post products on.
Loyalty Programs could not be added due to Time Constraints but can be implemented as we convert this plugin into a full-fledged application.
As the minting of NFTs takes a considerable amount of time waiting period for a contract to execute it makes the overall program slow as in other DApp as well.