CollectID combines encrypted, smartphone-ready NFC (near-field communication) tags with secure, immutable NFTs (non-fungible tokens) on blockchain to guarantee a product’s authenticity 100% and with just a few taps. By creating a digital twin of the products on the blockchain, CollectID enables brands to prove the authenticity of their products at any time, protecting consumers from buying counterfeit products. Customer engagement and storytelling using its solution emerged as a lucrative business model as the company evolved.
“Our first PoC was to make the secondary market more secure by using our technology to help platform providers guarantee the authenticity of their products. We quickly realized that attaching our NFC tag to products after production was challenging. Around the same time, we launched a pilot with a traditional Swiss football club. There, the focus was on customer engagement and storytelling. This collaboration shed light on unforeseen potential, prompting a shift in our original vision. We were surprised that our original concept of "guaranteeing authenticity" became less and less important and that using our technology to help brands deliver unique and memorable customer experiences emerged as the new focal point”, explained says Sergio Muster, co-founder of CollectID.
Fans of Brazilian football club Atlético Mineiro have been obtaining original soccer jerseys and enjoying the benefits of owning a phygital product; the club created a one-of-a-king fan engagement jersey app to connect the community. More than 15’000 fans have already downloaded the app and signed up. But this is not the largest customer for CollectID. A major Ice Hockey gear manufacturer will rely on CollectID’s NFC technology. During the next five years, the startup will embed its technology in the manufacturer’s entire collection.
Besides the two mega deals, CollectID’s NFC can be found in various sports fan merchandise, music and entertainment merchandise (artists tour shirts), apparel, sneakers, leather bags, caps and posters – all managed by some of the leading global brands. Overall, CollectID supports more than 40 customers in nine countries - Switzerland, Germany, France, Portugal, Austria, Rumania, USA, Brazil, Hong Kong and China. Building on this success, the startup is ambitious to reach even more brands. “This year and next year we want to win one or more Tier1 sports clubs and other international renowned fashion brands as customers and increase our sales”, said Sergio.
Accountable for its growth and success is the continuous investment in product development and the surge in demand for community engagement solutions to create personalized experiences for the fans. The startup also benefits from its experienced team of 22 full time employees, based at their headquarters in Zurich and its office in New York. The startup also works with a remote team of upto 5 people from the Ukraine. “Despite the challenging circumstances, we remained committed to nurturing and investing in our team members, as we consider them an integral part of the collectID family,” said Sergio.
The company has won multiple awards including the Startfeld Diamant and the Identiv's most innovative NFC use case, and received support through acceleration programs such has SCORE Sportstech Acceleration Program by Real Madrid Next, Southampton FC "Future of Sport" program.
(RAN)
Please login or sign up to comment.
Commenting guidelines