This is exclusive information that we deliver to you here. O2feel, a French brand innovates in the world of cycling. To our knowledge, it is the first bicycle manufacturer in Europe to equip its bicycles with this NFT technology with the proposal of a digital passport (based on the expertise of another French company, O’Code. We explain to you.
Before talking about O2feel, NFTs in two-two
NFTs (Non Fungible Token) have been in the news for a few months (4-5 years to be precise). This technology, which is based on the principle of the blockchain, had not yet found its useful application in the world of cycling. With O2feel and their electric bikes, there it is. Let’s first try to explain to you what NFT technology is.
Simply translating Non Fungible Token to its exact Non Fungible Active translation and leaving you on that won’t get you much further. So a non-fungible asset is a unique, non-interchangeable asset. It is unique because it has its precise identifier. Your passport could, in theory, be a non-fungible asset. Unique and tamper-proof.
Except that a well-equipped and unscrupulous counterfeiter can relatively easily (and at these risks and perils) copy your passport one, two, three times… By blockchain technology, a non-fungible asset is a product that becomes unique , since its identifier code changes all the time (literally all the time). Only its owner has the digital key to manage his NFT.
Fields of application of NFTs
Appearing less than 5 years ago, NFT technology is an application of what is called Web 3.0. The world of sport, gaming, luxury and art have plunged into the NFT. For example, the Roland Garros tournament put on sale in 2022 5,000 tokens (“RG Game, Seat & Match”), representing a numbered virtual seat on the Philippe-Chatrier center court.
Each non-fungible token was displayed at a unit sale price of 200 euros. We have not verified if the 5000 units have been sold. If so, that’s 1 million euros in turnover. Still in sport, the French company Sorare1 is hot right now. She has just signed a partnership with the NBA (go read our post on LeBron James if necessary). In the art world2luxury3consumer goods4 NFTs are a new El Dorado.
The rationale for NFTs?
Initially, NFT applies mainly to digital and virtual products. It is also a technology that makes it possible to identify (and protect) products with high added value. A bottle of vintage Cheval Blanc, a Louis Vuitton bag, a Cartier jewel… Products that need to be secure, authenticated, impossible to copy, impossible to steal.
Oh wait! Products that need to be secure, authenticated, impossible to copy, impossible to steal, with high added (service) value, wouldn’t that look furiously like your bike? Well if. And obviously, the French company O2feel has understood this well.
And so concretely for O2feel, what are these NFTs for?
Bike theft, this brake
An identified and recurring obstacle to the possession (and therefore the use) of the bicycle is the theft of it. Theft, concealment. In France, it’s even a kind of baptism, dubbing. You’re only a real cyclist if you can proudly announce that you’ve had at least one bike stolen. It is pathetic.
The public authorities are trying to find solutions with a few veloboxes placed here and there, 10 secure bicycle parking spaces at the foot of the station, with the creation of a gas plant around the Bicycode and the obligation to mark your new bicycles. . Bicloune manufacturers offer connected bikes (which aren’t really often, they just have a tracker and a little app). A set of essential and yet not totally effective devices.
What if your bike became an NFT?
It is in a way the proposal of O2feel. Their bikes remain very real. On the other hand, they will integrate from this month and little by little, on each bike that comes out of their production line, from the design and manufacture of the bike, the NFT technology via a French supplier, OCode. Concretely, for you, the owner of the bike, you will have a unique and tamper-proof digital passport linked to your bike.
What is the O2feel NFT digital passport?
“It is first of all a recognition of ownership” tells us Chloé Lapadu, communication and press relations manager for the brand. This blue O2feel iVog in size 54 left the factory on September 20, 2022, which you bought in the “Les rois de la petite reine” shop this Saturday, October 29 2022 is yours. Blockchain technology proves it. If it is stolen from you, anyway, it is theoretically unsaleable. The day this bike returns to the After-Sales Service system, for electronic maintenance, it is automatically and immediately recognized as stolen.
“predictive and anticipatory maintenance of the bike”
Also, the digital passport is a way for O2feel to know exactly, without possible error, the life of the bike. His maintenance in particular. If, unfortunately, a series of bicycles equipped with this technology has a design defect (eg the connectors of the rear lamp must be changed), O2feel can send a message to the owner: “Urgent, for your safety, go to your bike dealer“.
Ultimately, this O2feel digital passport will make it possible, and this is comparable to what is happening in the car world, to have predictive and anticipatory maintenance of the bike. The bicycle dealer “Les rois de la petite Reine” will know exactly what to do on your blue iVog that you bought on October 29, 2022. Exactly maybe not, he will still have to check the pressure in the tires!
A digital passport is not…
Xavier Moleux, marketing director of the brand, certifies it; it is not an intrusive technology. “We will never communicate ourselves with the user and the owner of the bike, on the other hand we will be able to communicate with the bike, nuance.” ; he adds : “And then in France, there is the GDPR law which prohibits it. The owner’s data is anonymous and protected.“.
On the other hand, and this is also where it is interesting, “if the owner wishes to communicate with us, via his digital key, he can do so”. Also, since the entire history of the bike is tamper-proof, when you resell your bike, it does not have talkative value, but value based on its history. And you when you buy it, you know you’re not buying a stolen bike.
But then, the NFT techno, what to think about it?
As always, especially in digital, an innovation, a break can be perceived as a step towards even more futility. It’s ultimately just a matter of applying the innovation.
Today, everything and anything is now likely to be exchanged in NFT (you have to buy them in cryptocurrency, but US dollars are also often accepted). For example, the very first tweet by Jack Dorsey, founder of Twitter, was valued before it went on sale (April 2021) at $48 million. It was finally acquired for the sum of 2.9 million USD.
One year later (April 15, 2022) its owner do not arrive to resell it beyond 7000 dollars. Big deal !
Long live progress?
As much, it is difficult to understand the interest of spending close to 3 million dollars to own the first tweet in history; as we understand the interest of NFT technology to fight against counterfeiting and concealment in particular.
When we see O2feel’s proposal, we say to ourselves that this technology may have found a useful application in our universe of the little queen. In this case, we put a big yes. It is not yet known if your O2feel iVog will be cool in the metaverse. We are investigating this.
1 Sorare, their site is the. NBA news the.
2 Want to know more about the NFT business in the art world, an article from Le Figaro is the (subscriber).
3 an NFT application in the world of luxury, Givenchyfor example.
4 In the world of consumer products, Budweiser sits there (in English)
We would like to give thanks to the writer of this write-up for this amazing content
NFT – O2feel will equip its electric bikes with a digital passport
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