This is a preview of our protocol. All documentation here is still work in progress.
About LGT Protocol
The LGT Protocol is an on-chain framework designed to keep physical assets in-sync with their digital counterparts, specifically from an ownership and provenance perspective. When integrated into the LGT Protocol, a product is capable of becoming a phygital (physical + digital) product.
LGT Tags and the Legitimate platform can be by used by customers to verify the authenticity and ownership of physical goods through Legitimate's services and the LGT Protocol smart contracts on-chain.
How it works
Phygital products powered by Legitimate's LGT Protocol has a few key features:
An NFT is “locked” and cannot be used or transferred until the physical product is scanned by the current owner to unlock.
When an owner of a phygital product transfers the NFT to another person, the NFT is immediately locked again (thanks to the Locking Mechanism). The only way to unlock the NFT is by scanning the NFC tag attached to the product.
Third party exchanges, marketplaces, and dApps can build on top of this “locked” NFT state to provide token gated content, access, and more.