On the JUWELLE service platform, customers can get their jewelry made, remade, refined & repaired. In doing so, online customers use JUWELLE to find the right goldsmith to work on their jewelry. Customers of the goldsmith use JUWELLE to submit their requests on-site or from home. They have it evaluated and processed online in a protocol. The order is then processed digitally in a workspace between the customer and the goldsmith. As goldsmiths also produce their own jewelry, they sell their handmade unique, and high-quality jewelry through the JUWELLE marketplace.
Jewelry platform with blockchain functionality in conjunction with NFT (ERC-721)
We expanded our functionality on JUWELLE for our customers and goldsmiths with the use of Blockchain technology. We thus enable customers to optionally verify their jewelry, such as a ring, with an NFT on the Ethereum Blockchain when making or remaking their jewelry.
Our customers, therefore, have the opportunity to digitally record the history of the jewelry, the type of materials, the origin of the materials, and who created it (manufacturer/goldsmith/jewelry designer).
Jewelry Online Marketplace with physical and digital NFT jewelry
The goldsmiths can optionally post their physical jewelry as NFT on our marketplace. The jewelry will then be marked with the issued hash value of the NFTs by a laser process. The customer will automatically receive a digital wallet on JUWELLE In there the physical piece of jewelry is deposited as NFT, which was verified by the NFT during the purchase. In addition, the physical piece of jewelry is shipped to the customer.
The marketplace can now additionally be used, to offer our goldsmiths digital jewelry templates, which previously only served as a model for the production of the physical jewelry piece. Here, as with physical jewelry, digital jewelry is linked and verified via an NFT. Unlike physical jewelry, customers can use their digital jewelry in decentralized games like The Sandbox or Decentraland.
Depreciation of jewelry is transformed into valuable NFT jewelry
We are currently working on more features that will allow our customer’s digital or physical NFT jewelry, to retain its value and even increase its value. Up to now, no value preservation or appreciation for jewelry from traditional jewelry artists or goldsmiths exists.
Currently, institutions and jewelry exchanges declare that with the use of an auctioneer the jewelry in its value achieves a higher price than the material value. This way, historical jewelry and jewelry of appointed artists experience an increase in value. Used unique jewelry that is not valued by an auctioneer will lose about 50% in value after the initial purchase. However, the price does not fall below the material value.
A party has the power to decide that one artist’s work is worth more than another artist’s work. What if only a really good marketing strategy or story existed that created the artist over time? But can’t there also be equal value for preservation and appreciation of the created artworks or jewelry for all artists?
Suppose there is no longer the middleman or party that decides on the value. Let’s say there is a place, such as JUWELLE, where artists verify themselves, with their education, their certificates, and their jewelry artworks created so far. Beyond that, they have the opportunity to sell their jewelry without value deterioration and even with a sustainable increasing value.
Doesn’t the purchase of these verified artworks bring more benefits for customers and artists?