The client contacts the Mattereum sales team to engage their services to make it possible for them to sell their real estate as an NFT
The client’s lawyers and the Mattereum sales team work together to create a package that meets their needs
Mattereum’s ontology team documents the property to create a museum-grade description of it that forms the digital twin for their Asset Passport. This includes plans, photographs, surveys and other documents that are needed for selling a piece of real estate, all of which are bundled together in the MAP. In the UK this includes the Land Registry title deeds showing that the seller has good title in the property, as well as a full description of, and plans of, the property and any rights or burdens that pass with the property
Independent experts are approached to provide warranties for aspects of the land e.g. fishing rights, ownership history
The warranties are attached to the digital twin to form the Mattereum Asset Passport (MAP)
A special purpose vehicle (SPV) is created that holds the ownership of the land
The MAP is linked to an NFT minted by the client, connecting the physical asset (the real estate and its SPV) to the NFT
The NFT signifies an option to purchase the SPV owning the land for a nominal sum, such as £1
1. The option to buy the land is sold as a physical asset NFT on a marketplace such as OpenSea
2. The option to buy the land can be sold on many times as an NFT, with all the simplicity and convenience of any other NFT, before a purchaser decides to exercise the option on the real estate**
3. At every sale and resale the experts receive a small percentage of the sale price for having their warranty on that asset and Mattereum receives a small percentage for providing the MAP
4. At some point, an NFT owner decides to exercise the option and take ownership of the property, which stops it being sold as an NFT, perhaps years and tens of owners after the original transaction
5. The purchaser pays the original owner the £1 option fee and takes full ownership of the SPV, and through that, the land
6. Their ownership is registered on the land registry and the NFT burned
7. The purchaser then owns the property, just as they would after any other real estate transaction, but without having to wait for months for the purchase to go through and without a lot of paperwork
8. Throughout the life of the NFT the buyers are protected by the guarantees provided by the expert in their warranties in the MAP if they choose to take up the option it embodies
NOTE **Some form of KYC/AML and proof of source of funds is likely to be required by the seller, depending on the jurisdiction in which the land is situated.
1. The property has a warranty on the existence of fishing rights valued at 1% of price = £20,000
2. The warranty says there are salmon fishing rights on the river through the property, but the buyer has evidence that these are held by someone else
3. The buyer clicks ‘Dispute’ button in the passport app with the the evidence
4. The claim is automatically sent to Mattereum and to the expert who provided the warranty
5. If the expert accepts the evidence they pay the buyer the £20,000 stipulated by the warranty
6. If they do not accept the evidence, the claim automatically goes to the independent arbitrator
7. If the arbitrator agrees that the warranty information is false they rule that the warranty fee is to to be paid to the buyer by the expert certifier
8. The arbitrator’s decision is final
9. The arbitrator hits the ‘Refund’ button in the arbitration app and the money is automatically sent to the buyer.
10. Neither the expert nor anyone else can stop or dispute this
11. The arbitrator is paid an agreed percentage of the warranty fee whatever the decision
12. Fast, little paperwork, automated, impartial – buyer knows they are covered if the real estate is not as described by the seller
NOTE: *These dispute resolution processes represent the form Mattereum intends to implement in the near future. Currently the same outcomes can be achieved through a non-automated process. Please contact Mattereum if you would like more detail on how this would work
1. The buyer writes to the seller disputing the existence of salmon fishing rights on the property
2. The Seller writes back disputing this, claims ‘caveat emptor’, or doesn’t write back at all
3. The buyer takes the seller to court
4. The buyer has to find and pay lawyers, with considerable outlay needed even before they get to court
5. This case takes months or even years to get a hearing
6. There is no guarantee that even if the buyer is right they will get a refund, or even their expenses back
7. Slow, bureaucratic, expensive, inconvenient and with no guarantee for the buyer that they are covered if property details are wrong, or if they are, that they will get a fair outcome
The client contacts the Mattereum sales team to engage their services to enable them to sell their jackets with warranties on the blockchain
The client’s lawyers and the Mattereum sales team work together to create a package that meets their needs
Mattereum’s ontology team documents the jackets to create a museum-grade description of them that forms the digital twin for their Asset Passports
Independent experts are approached to provide warranties for aspects of the jackets that are key to its value, e.g. that the materials it is made from were ethically sourced, that it was manufactured by people paid a living wage and not slave or child labour, that it is guaranteed to last for 20 years with normal use
The warranties are attached to the digital twin to form the Mattereum Asset Passport (MAP)
The MAP is linked to NFTs minted by the client, connecting the physical asset, the jackets, to individual NFTs, one per jacket
The MAP is encoded in an app-readable NFC tag that is incorporated in each jacket so that the jackets can be scanned by the app and connected to their MAP on the blockchain
1. The jackets are sold in shops or online, with their MAPs in the tag
2. When a jacket is sold or resold, the MAP is updated to record the transaction and new owner on the blockchain via the app
3. Because the jackets come with warranties and records of their history, they can be sold and resold again and again at a better price than sellers would get without them because these remove the ‘doubt discount’ that afflicts most second-hand sales
4. This allows costly, well-made goods to ‘spiral’ down through the economy, becoming a bit cheaper at every resale so that eventually they are within reach of people at every level of income, reducing waste and creating the Spiral Economy
5. At every sale and resale the experts receive a small percentage of the sale price for having their warranty on that asset and Mattereum receives a small percentage for providing the MAP
6. This provides an incentive for manufacturers to make good quality clothes because the longer the clothes last, the longer the manufacturers can collect a percentage of the resales
7. Throughout the life of the jacket the buyers are protected by the guarantees provided by the experts in their warranties in the MAP
8. This applies just as much to the tenth owner as the first
1. The jackets have a warranty on the ethical sourcing of the raw materials valued at 70% of price
2. The warranty says the wool comes from ethically farmed animals and is organic but the buyer has evidence that the farm of origin did not operate under organic conditions
3. The buyer clicks ‘Dispute’ button in the passport app with the the evidence
4. The claim is automatically sent to Mattereum and to the expert who provided the warranty
5. If the expert accepts the evidence they pay the buyer the amount stipulated by the warranty
6. If they do not accept the evidence, the claim automatically goes to the independent arbitrator
7. If the arbitrator agrees that the warranty information is false they rule that the warranty fee is to to be paid to the buyer by the expert certifier
8. The arbitrator hits the ‘Refund’ button in the arbitration app and the money is automatically sent to the buyer
9. The arbitrator’s decision is final. Neither the expert nor anyone else can stop or dispute this
10. The arbitrator is paid an agreed percentage of the warranty fee whatever the decision
11. This applies to everyone who owns the jacket, not just the initial purchaser
12. Fast, little paperwork, automated, impartial – every buyer right down the spiral knows they are covered if the jacket is not what it claims to be
NOTE: *These dispute resolution processes represent the form Mattereum intends to implement in the near future. Currently the same outcomes can be achieved through a non-automated process. Please contact Mattereum if you would like more detail on how this would work
1. It’s probably not worth complaining to the company, as they are unlikely to give a refund on the grounds that the product isn’t actually organic, only if it can be demonstrated to be defective
2. They could make a complaint to the Advertising Standards Authority about the false information, but while that might get the company to stop selling the product with the claim that it is organic, it’s unlikely to result in a refund and will take ages, even if the ASA upholds the claim
3. If it isn’t the original buyer disputing the claim, they are not going to have much luck getting their claim heard as things sold on the secondhand market don’t have to be sold upholding the manufacturer’s claims: ‘caveat emptor’ applies
4. Unless you are the original purchaser, it is unlikely that anyone will take your complaint seriously, and even if you are, getting a refund unless the garment is physically faulty is going to be next to impossible
The client contacts the Mattereum sales team to engage their services to enable them to sell their gold bar as an NFT with legal protection
The client’s lawyers and the Mattereum sales team work together to create a package that meets their needs
Mattereum’s ontology team documents the gold bar to create a museum-grade description of it that forms the digital twin for its Asset Passport
Independent experts are approached to provide warranties for aspects of the gold that are key to its value, e.g. its provenance, its purity, where it was mined etc
The warranties are attached to the digital twin to form the Mattereum Asset Passport (MAP)
The MAP is linked to an NFT minted by the client, connecting the physical asset, the gold bar, to the NFT
The gold bar is stored in a vault
1. The gold bar is sold as a physical asset NFT on a marketplace such as OpenSea allowing its ownership to change hands while the gold bar remains in the vault
2. At every sale and resale the experts receive a small fraction of the sale price for having their warranty on that asset and Mattereum receives a small percentage for providing the MAP
3. At some point, an owner collects the gold bar from the vault, which stops it being sold as an NFT, perhaps years and tens of owners after the original transaction
4. Throughout the life of the NFT the buyers are protected by the guarantees provided by the expert in their warranties in the MAP
5. This process can also deal with onboarding numerous similar assets at the same time e.g. a thousand identical gold bars from a refinery
1. The gold bar has a warranty on the provenance of the mine valued at 10bps of price = $750,000
2. The warranty says the gold was legally mined in South Africa but the buyer has been presented with third party evidence it is from illegal mining in Brazil
3. The buyer clicks ‘Dispute’ button in the passport app with the the evidence
4. The claim is automatically sent to Mattereum and to the expert who provided the warranty
5. If the expert accepts the evidence they pay the buyer the $750 stipulated by the warranty
6. If they do not accept the evidence, the claim automatically goes to the independent arbitrator
7. If the arbitrator agrees that the warranty information is false they rule that the warranty fee is to to be paid to the buyer by the expert certifier
8. The arbitrator hits the ‘Refund’ button in the arbitration app and the money is automatically sent to the buyer
9. The arbitrator’s decision is final. Neither the expert nor anyone else can stop or dispute this
10. The arbitrator is paid an agreed percentage of the warranty fee whatever the decision
11. Fast, little paperwork, automated, impartial – buyer knows they are covered if the gold bar is absent, fake or damaged
NOTE: *These dispute resolution processes represent the form Mattereum intends to implement in the near future. Currently the same outcomes can be achieved through a non-automated process. Please contact Mattereum if you would like more detail on how this would work
1. The buyer writes to the seller disputing that the gold was mined in South Africa as claimed
2. The seller writes back disputing this, claims ‘caveat emptor’, or doesn’t write back at all
3. The buyer takes the seller to court
4. The buyer has to find and pay lawyers, with considerable outlay needed even before they get to court
5. This case takes months or even years to get a hearing
6. There is no guarantee that even if the buyer is right they will get a refund, or even their expenses back
7. All the while the dispute is working through the courts the gold bar cannot be resold
8. Slow, bureaucratic, expensive, inconvenient and with no guarantee for the buyer that they are covered if the gold bar is absent, fake or from an illegal source or that they’ll get a fair outcome if it is
The client contacts the Mattereum sales team to engage their services to make it possible for them to sell their real estate as an NFT
The client’s lawyers and the Mattereum sales team work together to create a package that meets their needs
Mattereum’s ontology team documents the property to create a museum-grade description of it that forms the digital twin for their Asset Passport. This includes plans, photographs, surveys and other documents that are needed for selling a piece of real estate, all of which are bundled together in the MAP. In the UK this includes the Land Registry title deeds showing that the seller has good title in the property, as well as a full description of, and plans of, the property and any rights or burdens that pass with the property
Independent experts are approached to provide warranties for aspects of the land e.g. fishing rights, ownership history
The warranties are attached to the digital twin to form the Mattereum Asset Passport (MAP)
A special purpose vehicle (SPV) is created that holds the ownership of the land
The MAP is linked to an NFT minted by the client, connecting the physical asset (the real estate and its SPV) to the NFT
The NFT signifies an option to purchase the SPV owning the land for a nominal sum, such as £1
1. The option to buy the land is sold as a physical asset NFT on a marketplace such as OpenSea
2. The option to buy the land can be sold on many times as an NFT, with all the simplicity and convenience of any other NFT, before a purchaser decides to exercise the option on the real estate**
3. At every sale and resale the experts receive a small percentage of the sale price for having their warranty on that asset and Mattereum receives a small percentage for providing the MAP
4. At some point, an NFT owner decides to exercise the option and take ownership of the property, which stops it being sold as an NFT, perhaps years and tens of owners after the original transaction
5. The purchaser pays the original owner the £1 option fee and takes full ownership of the SPV, and through that, the land
6. Their ownership is registered on the land registry and the NFT burned
7. The purchaser then owns the property, just as they would after any other real estate transaction, but without having to wait for months for the purchase to go through and without a lot of paperwork
8. Throughout the life of the NFT the buyers are protected by the guarantees provided by the expert in their warranties in the MAP if they choose to take up the option it embodies
NOTE **Some form of KYC/AML and proof of source of funds is likely to be required by the seller, depending on the jurisdiction in which the land is situated.
1. The property has a warranty on the existence of fishing rights valued at 1% of price = £20,000
2. The warranty says there are salmon fishing rights on the river through the property, but the buyer has evidence that these are held by someone else
3. The buyer clicks ‘Dispute’ button in the passport app with the the evidence
4. The claim is automatically sent to Mattereum and to the expert who provided the warranty
5. If the expert accepts the evidence they pay the buyer the £20,000 stipulated by the warranty
6. If they do not accept the evidence, the claim automatically goes to the independent arbitrator
7. If the arbitrator agrees that the warranty information is false they rule that the warranty fee is to to be paid to the buyer by the expert certifier
8. The arbitrator’s decision is final
9. The arbitrator hits the ‘Refund’ button in the arbitration app and the money is automatically sent to the buyer.
10. Neither the expert nor anyone else can stop or dispute this
11. The arbitrator is paid an agreed percentage of the warranty fee whatever the decision
12. Fast, little paperwork, automated, impartial - buyer knows they are covered if the real estate is not as described by the seller
NOTE: *These dispute resolution processes represent the form Mattereum intends to implement in the near future. Currently the same outcomes can be achieved through a non-automated process. Please contact Mattereum if you would like more detail on how this would work
1. The buyer writes to the seller disputing the existence of salmon fishing rights on the property
2. The Seller writes back disputing this, claims ‘caveat emptor’, or doesn’t write back at all
3. The buyer takes the seller to court
4. The buyer has to find and pay lawyers, with considerable outlay needed even before they get to court
5. This case takes months or even years to get a hearing
6. There is no guarantee that even if the buyer is right they will get a refund, or even their expenses back
7. Slow, bureaucratic, expensive, inconvenient and with no guarantee for the buyer that they are covered if property details are wrong, or if they are, that they will get a fair outcome
The client contacts the Mattereum sales team to engage their services to enable them to sell their jackets with warranties on the blockchain
The client’s lawyers and the Mattereum sales team work together to create a package that meets their needs
Mattereum’s ontology team documents the jackets to create a museum-grade description of them that forms the digital twin for their Asset Passports
Independent experts are approached to provide warranties for aspects of the jackets that are key to its value, e.g. that the materials it is made from were ethically sourced, that it was manufactured by people paid a living wage and not slave or child labour, that it is guaranteed to last for 20 years with normal use
The warranties are attached to the digital twin to form the Mattereum Asset Passport (MAP)
The MAP is linked to NFTs minted by the client, connecting the physical asset, the jackets, to individual NFTs, one per jacket
The MAP is encoded in an app-readable NFC tag that is incorporated in each jacket so that the jackets can be scanned by the app and connected to their MAP on the blockchain
1. The jackets are sold in shops or online, with their MAPs in the tag
2. When a jacket is sold or resold, the MAP is updated to record the transaction and new owner on the blockchain via the app
3. Because the jackets come with warranties and records of their history, they can be sold and resold again and again at a better price than sellers would get without them because these remove the ‘doubt discount’ that afflicts most second-hand sales
4. This allows costly, well-made goods to ‘spiral’ down through the economy, becoming a bit cheaper at every resale so that eventually they are within reach of people at every level of income, reducing waste and creating the Spiral Economy
5. At every sale and resale the experts receive a small percentage of the sale price for having their warranty on that asset and Mattereum receives a small percentage for providing the MAP
6. This provides an incentive for manufacturers to make good quality clothes because the longer the clothes last, the longer the manufacturers can collect a percentage of the resales
7. Throughout the life of the jacket the buyers are protected by the guarantees provided by the experts in their warranties in the MAP
8. This applies just as much to the tenth owner as the first
1. The jackets have a warranty on the ethical sourcing of the raw materials valued at 70% of price
2. The warranty says the wool comes from ethically farmed animals and is organic but the buyer has evidence that the farm of origin did not operate under organic conditions
3. The buyer clicks ‘Dispute’ button in the passport app with the the evidence
4. The claim is automatically sent to Mattereum and to the expert who provided the warranty
5. If the expert accepts the evidence they pay the buyer the amount stipulated by the warranty
6. If they do not accept the evidence, the claim automatically goes to the independent arbitrator
7. If the arbitrator agrees that the warranty information is false they rule that the warranty fee is to to be paid to the buyer by the expert certifier
8. The arbitrator hits the ‘Refund’ button in the arbitration app and the money is automatically sent to the buyer
9. The arbitrator’s decision is final. Neither the expert nor anyone else can stop or dispute this
10. The arbitrator is paid an agreed percentage of the warranty fee whatever the decision
11. This applies to everyone who owns the jacket, not just the initial purchaser
12. Fast, little paperwork, automated, impartial - every buyer right down the spiral knows they are covered if the jacket is not what it claims to be
NOTE: *These dispute resolution processes represent the form Mattereum intends to implement in the near future. Currently the same outcomes can be achieved through a non-automated process. Please contact Mattereum if you would like more detail on how this would work
1. It’s probably not worth complaining to the company, as they are unlikely to give a refund on the grounds that the product isn’t actually organic, only if it can be demonstrated to be defective
2. They could make a complaint to the Advertising Standards Authority about the false information, but while that might get the company to stop selling the product with the claim that it is organic, it’s unlikely to result in a refund and will take ages, even if the ASA upholds the claim
3. If it isn’t the original buyer disputing the claim, they are not going to have much luck getting their claim heard as things sold on the secondhand market don’t have to be sold upholding the manufacturer’s claims: ‘caveat emptor’ applies
4. Unless you are the original purchaser, it is unlikely that anyone will take your complaint seriously, and even if you are, getting a refund unless the garment is physically faulty is going to be next to impossible
The client contacts the Mattereum sales team to engage their services to enable them to sell their gold bar as an NFT with legal protection
The client’s lawyers and the Mattereum sales team work together to create a package that meets their needs
Mattereum’s ontology team documents the gold bar to create a museum-grade description of it that forms the digital twin for its Asset Passport
Independent experts are approached to provide warranties for aspects of the gold that are key to its value, e.g. its provenance, its purity, where it was mined etc
The warranties are attached to the digital twin to form the Mattereum Asset Passport (MAP)
The MAP is linked to an NFT minted by the client, connecting the physical asset, the gold bar, to the NFT
The gold bar is stored in a vault
1. The gold bar is sold as a physical asset NFT on a marketplace such as OpenSea allowing its ownership to change hands while the gold bar remains in the vault
2. At every sale and resale the experts receive a small fraction of the sale price for having their warranty on that asset and Mattereum receives a small percentage for providing the MAP
3. At some point, an owner collects the gold bar from the vault, which stops it being sold as an NFT, perhaps years and tens of owners after the original transaction
4. Throughout the life of the NFT the buyers are protected by the guarantees provided by the expert in their warranties in the MAP
5. This process can also deal with onboarding numerous similar assets at the same time e.g. a thousand identical gold bars from a refinery
1. The gold bar has a warranty on the provenance of the mine valued at 10bps of price = $750,000
2. The warranty says the gold was legally mined in South Africa but the buyer has been presented with third party evidence it is from illegal mining in Brazil
3. The buyer clicks ‘Dispute’ button in the passport app with the the evidence
4. The claim is automatically sent to Mattereum and to the expert who provided the warranty
5. If the expert accepts the evidence they pay the buyer the $750 stipulated by the warranty
6. If they do not accept the evidence, the claim automatically goes to the independent arbitrator
7. If the arbitrator agrees that the warranty information is false they rule that the warranty fee is to to be paid to the buyer by the expert certifier
8. The arbitrator hits the ‘Refund’ button in the arbitration app and the money is automatically sent to the buyer
9. The arbitrator’s decision is final. Neither the expert nor anyone else can stop or dispute this
10. The arbitrator is paid an agreed percentage of the warranty fee whatever the decision
11. Fast, little paperwork, automated, impartial - buyer knows they are covered if the gold bar is absent, fake or damaged
NOTE: *These dispute resolution processes represent the form Mattereum intends to implement in the near future. Currently the same outcomes can be achieved through a non-automated process. Please contact Mattereum if you would like more detail on how this would work
1. The buyer writes to the seller disputing that the gold was mined in South Africa as claimed
2. The seller writes back disputing this, claims ‘caveat emptor’, or doesn’t write back at all
3. The buyer takes the seller to court
4. The buyer has to find and pay lawyers, with considerable outlay needed even before they get to court
5. This case takes months or even years to get a hearing
6. There is no guarantee that even if the buyer is right they will get a refund, or even their expenses back
7. All the while the dispute is working through the courts the gold bar cannot be resold
8. Slow, bureaucratic, expensive, inconvenient and with no guarantee for the buyer that they are covered if the gold bar is absent, fake or from an illegal source or that they'll get a fair outcome if it is
Get in touch with a member of the Mattereum team to learn more, discuss our services, or make your high value assets e-commerce-ready.
