SmartKey is bringing NFTs to the Internet of Things

Excitement over the potential of NFTs has exploded out of the crypto-world and into the mainstream. In the last few months, NFTs for digital art, music, and even tweets have been capturing headlines and selling for millions.

But these incredibly useful tokens aren’t just revolutionary for the business models of digital creatives — they also hold huge potential for the Internet of Things (IoT). The SmartKey network is bringing NFTs and IoT together to enable the smart cities of the future.

What’s an NFT?

If you’re new to NFTs, here’s a quick overview: NFTs (non-fungible tokens) allow people to own and transfer ownership of digital assets. You can think of NFTs as uniquely identifiable digital receipts for your digital asset.

Because NFTs are built on the Ethereum blockchain, these digital receipts also benefit from being standardized, interoperable, programmable, and freely tradable. This opens up new value and new business models for digital creators.

SmartKey: An NFT for the BoT

The same non-fungibility (i.e. uniqueness) property of NFTs is also a game-changer when applied to IoT.

Using an NFT, every smart object in a network can have its own unique token providing proof of ownership. Cars, keys, doors, gates, and locker systems can all have their own unique token — boosted with the additional functionality of an NFT mentioned above.

SmartKey is the world’s first platform to successfully bridge decentralized finance (DeFi) and IoT, and will create the platform for a new economy of physical assets called the ‘Blockchain of Things’ (BoT). Our decentralized network of blockchain oracles connects the on-chain world of digital assets, smart contracts, and DeFi with off-chain data, services, and devices.

When NFTs are used on the SmartKey network, smart objects become programmable, uniquely identifiable, and uniquely owned. This opens up new possibilities for traditional services such as car-sharing, car rental, or home rental.

For example, access to a car with a SmartKey NFT can be controlled remotely and automatically based on a number of variables programmed into a smart contract: the identity of the owner, the time of day, whether the user has paid a fixed amount, etc. The same applies to access to rooms, buildings, lockers, and other smart objects.

SmartKey is already being used in such projects. Last year, the city of Olsztyn in Northern Poland became the first in the world to successfully introduce SmartKey-controlled building access for municipal emergency services.

SmartKey in the Real World

SmartKey will be the connective tissue for the smart cities of the future, and will provide the universal platform on which partners, companies, and individuals can build their own applications.

Here’s a few of our latest partners and projects:

Invest in SmartKey (SKEY)

SmartKey is quickly becoming a leading project in the IoT space. Our successful real-world projects and partnerships, experienced team, and enthusiastic community has led many backers of SmartKey to believe SKEY will become a top 10 crypto-asset by market valuation.

SmartKey (SKEY) is available through KuCoin, Uniswap, and ProBit. To learn more about SmartKey, please read our whitepaper: https://smartkeyplatform.io/white-papers/SmartKey-WP-EN-LATEST.pdf

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Skey Network

Skey Network is universal, standardized communication system. Connector that combines the IoT devices with blockchain.