NFT Fan

NFTs are often well-designed graphics or digital works of art registered on a decentralized public ledger such as the Hedera hashgraph network. The use of such a ledger allows for the authentication of physical limited edition collections of promotional merchandizing items such as coffee mugs and mouse pads. These merchandise items are derivative works of an underlying NFT artwork collection, and are herein defined as subNFTs. A subNFT has two components: 1) a physical item with a secret private key embedded in a visibly printed QR code on the item, and 2) an NFT minted by the club owner with the symbol “COA” which is transferred to the member’s HashPack wallet with the name “Certificate of Authenticity.”
In the app, a fan-club member may bid on at item such as a coffee mug which is part of a limited edition of mugs. If they win the item, then they will receive an email from the shipper so that they can track the mug. They will see in their HashPack wallet an NFT with the COA symbol. When they receive the mug, they may verify that it is authentic by scanning its QR code printed on the side. In the event that they want to sell the mug to someone else, they can prove that their mug is authentic. This is because they are also in possession of a non-fungible linked token on the network. To transfer their ownership, they would pass the NFT from their wallet to the wallet of the transferee. Then, they would deliver the mug to the transferee. The transferee could then use the app to scan the QR code and determine that they have the corresponding Hedera network token. This maintains a record of the chain-of-title of the item on a decentralized network, thus verifying its authenticity.
This works by the use of public and private keys. A private key is a long string of random characters with a fixed length. A public key is a one-way hash, or deterministic scrambling, of a private key based on a published, scrambling pattern. Anyone with a private key may derive the associated public key by running it through the hashing algorithm. In this case, the private key is stored in a QR code on the item. When the user scans the mug’s QR code, the app obtains the mug’s secret private key. That key is hashed to obtain the public key. The app then queries the HashPack wallet to determine whether an NFT with a matching public key in its metadata is in the wallet. If it is, then the app reports that the mug is authentic.