Luxurify

Luxurify: Decentralized luxury watch database with provenance, cost and ownership verification

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Inspiration

  • Popularity of luxury products has resulted in the appearance and expansion of the black market for stolen watches. It should be borne in mind that each element of the watch mechanism is custom built. All timepieces have unique identification numbers, which authenticate product genuineness.
  • These numbers are stored in the manufacturer’s internal databases. Regretfully, there is no single database for watches of different manufacturers, while the watch ownership history is not recorded.
  • Stolen watches enter the market due to absence of the unified global stop-list and convenient interfaces for the owners.
  • Another formidable issue facing customers is the availability of fake and counterfeit products. The quality of fakes improves gradually, making them very similar to the originals. Being in high demand, Swiss-made watches are faked more often as compared to watches of other brands.

What it does

The Luxurify ecosystem is a platform featuring luxury watch registration, verification, marketplace and an escrow service. The provenance of your watch is inscribed in blockchain.

Build for Brand

  • Register your brand with certificates
  • Claim watches and start selling.
  • Protection against fakes.
  • Promotion of the official service network.
  • Transparent ownership transfers.
  • Dynamic pricing via WatchSignals.

Build for Owner

  • Protection against fakes and stolen property.
  • Transparent ownership transfers.
  • Growth in resale value.
  • Ethernal provenance record.
  • Dynamic pricing via WatchSignals.
  • Convenient marketplace.

Build for Collector

  • Convenient marketplace.
  • Fast, Secure, Trusted place to buy Authentic Luxury Watches.

How we built it

Luxurify System Design

Luxurify System Design

Web App (Rinkeby)

Mobile App (Rinkeby)

Backend

  • We use Ruby on Rails to develop the backend APIs and integrate with WatchSignals APIs. Many thanks to WatchSignals team for providing support and helping us with generating API KEY when fetching data.

WatchSignals Adapter

OpenSea Integration

Infura

  • We use Infura to provide instant access over HTTPS and WebSockets to the Ethereum and IPFS networks

Pinatra

  • We also use Pinatra to upload and manage files on IPFS

Challenges we ran into

  • New to Blockchain, had to google a lot to resolve easy issues
  • Unable to debug the issues, spend multiples days just to resolve simple not enough fund issue.

Accomplishments that we're proud of

  • Better understanding about blockchain, especially how ChainLink works.
  • Deploy smart contracts.

What we learned

  • Smart contract integration, deployment.

What's next for Luxurify

  • Escrow auction to support 3rd service verify the watch before approve the buy/sell watch order.
  • More types of auction suggest: English, Dutch, etc.
  • Insurance information and service integration.
  • Expand to other luxury goods.
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