What is an NFT?
Non-Fungible Tokens, or NFTs, are unique assets created using the Ethereum network. They allow creators to create wholly unique tokens for assets such as images, songs or anything digital. Creators can then sell these as one-of-a-kind works of art, limited editions, or even as small fractions of a whole work. But until now they have been largely confined to digital works. The buyers can then resell them for profit, and the original creator receives a fee, like a royalty every time it's sold.
What is a Physical NFT?
Physical NFTs by Flipkick are NFTs linked to physical works of art. They can be resold like any other NFT or redeemed for delivery of the physical work.
Physical NFTs, for instance F.or Y.our R.eal E.ntertainment — the Fyre Media painting — include on the physical object a custom-programmed NFC chip to authenticate the item. On this chip we encode a unique, secure link to a JSON file hosted on IPFS, the decentralized filesystem. This immutable metadata file describing the artwork is cryptographically signed by Flipkick.
How do I authenticate an artwork?
Here's an example of our metadata for Rodin's The Thinker.
flipkick_uuid is a globally unique identifier for this individual physical work.
But how do we know Flipkick made this?
flipkick_sig is our digital signature of the UUID, signed using our public PGP key.
The owner can use our Authentication page to swipe their phone over the object and determine its authenticity. They can also use our open source signature verification utility, or even test it themselves using the GPG utility and our public key.
What is the use of a Physical NFT?
Physical NFTs sold at auction can be resold like any other NFT or redeemed for delivery of the physical work.
The IPFS link stored on the artwork itself forever authenticates the physical piece as the original. Flipkick is the only company to offer cryptographic authentication of physical works of art sold as and linked to NFTs.
Using our method, art authentication is now a cryptographic process, not a subjective determination by experts.
How do I redeem a Physical NFT?
At any time the NFT holder can contact Flipkick at info@flipkick.com, or by phone at our New York City offices at (833) 960-2111.
Flipkick staff will make arrangements directly with the redeemer. Redeemer is responsible for the cost of shipping, handling and insuring the artwork during transfer.