NFTWarranty
Free up your cupboard spaces and store your warranties in the digital world in the form of NFTs having proper ownership proof over it. Now the warranty is not a piece of paper but a form of token.
Created on 18th February 2023
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NFTWarranty
Free up your cupboard spaces and store your warranties in the digital world in the form of NFTs having proper ownership proof over it. Now the warranty is not a piece of paper but a form of token.
The problem NFTWarranty solves
NFTWarranty is a Decentralised Warranty Issue platform that can be used by sellers to dispatch their warranties to buyers via a NFT built using Polygon.
We have used the Soulbound NFT concept to provide Warrranties that can not be a victim of theft with the added features of Expiry date and Resell that makes it convenient to be used in many more use-cases.
Issue Warranty
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.
Proof Ownership
When the Warranty is sent to the dashboard of the Buyer as a Pending Warranty the Buyer will need to proof it's ownership by hashing their wallet address which is then hashed using the Keccak256 hash and matched with the hash in the Metadata and on successful verification the Warranty is minted in the chain and added to the active warranties section of the Buyer Dashboard which can be used as a Proof of Ownership and as the Warranty till the Expiry Time.
Resell Warranty
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 as Soul and then the new owner needs to proof ownership in a similiar process as the previous owner.
Auto Expiry
In the case that the current time is greater than the Expiry time of any Product Warranty the Burn Function in the Gelato Ops executes itself which in turn burns the NFT and the Warranty is moved to the Expired Warranty section of the owner.
Challenges we ran into
Implementing Push Protocol
Storing Data in IPFS
Making the NFTs soulbound
Tracks Applied (2)
Polygon: Open Track
Polygon Technology
Push Protocol
Push Protocol