The NFT-based physical product identity recognition company colletID has completed a $3.5 million financing round, with participation from SeventySix Capital and others

ChainCatcher news, according to sporttechie, the NFT-based physical product identity verification company colletID announced the completion of a $3.5 million financing round, with participation from U.S. sports venture capital firm SeventySix Capital, European sports investment firm Hellens Rock Capital, and Swiss and Japanese crypto banks Sygnum/SBI. The company completed its seed round financing in December 2021 and is currently still in the pre-A round financing stage.

It is reported that colletID has opened a digital dimension for physical products by embedding small NFT tags into physical products, giving each product a unique identity, which is then stored as a non-fungible token through smart contracts, that is, an NFT on the blockchain, thereby creating a digital twin identity for each product. (sporttechie)