The Smart Jewelry Lab (SJL) mobile app allows anyone to check if a product is genuine. Scan it with an NFC enabled smartphone and you’ll get information (immutably stored in the blockchain) about the jewelry item’s whole life circle from its birthday.
We drastically improve efficiency in the secondary jewelry market as used item discounts become much closer to other retail markets because of the provenance and trust provided by SJL.
We will be selling our service to jewelry brands, secondary jewelry market transaction payments, targeted ads in the app, data sale.
The jewelry market suffers from fakes and replicas. The secondary jewelry market is untrusted. We use jewelry as a decoration only without any other functionality.
We presented our product vision to jewelry companies and received positive feedback. We also got some letters of intent from companies ready to start cooperation once the product is ready for deployment.
As this is a niche B2B product, we cannot use general metrics to test demand.
We need to deploy a product to the market and then see dynamics.