Spl.yt Core Foundation’s token moved on the hot ICO’s list

Splyt Core is the first Shoppable E-Comm NFT infrastructure powered by POLKADOT. The team built it to turbo-charge decentralized finance and e-commerce markets. The platform has launched its token on April 1, 2021, and since then, it rapidly gained investors’ attention. Currently, SHOPX is one of the hot ICOs. The sale’s end date is TBD thus far, but the token is trading for 3.25 USD during the initial coin offering.

SHOPX is an ERC-20 token based on Etherium Blockchain. The platform accepts ETH and BTC in exchange for SHOPX. Splyt Core offers users various advantages. And its eNFT is one of them.

What is SPLYT’s eNFT, and how does it work? 

Splyt’s eNFT tokenizes off-chain products on the blockchain. It streamlines digital sales, thus enabling lifetime product data tracking that wasn’t possible previously. Furthermore, the eNFT empowers a transparent and robust e-commerce ecosystem.

The platform assigns every product a unique eNFT. The latter eliminates the double-sell problem with live-updating inventory tracking across all online stores.

Besides, the eNFT carries sales metadata and history, acts as a digital proof of authenticity, and even delivers data points across the lifetime of a product in the resale market.

Various brands can set a bounty for each eNFT paid or traced on the blockchain for perfect attributions; thus, they eliminate counterparty risk.

Splyt’s TCP/eNFT creates a universal and standardized protocol for how customers share funds and data securely in e-commerce transactions.

According to the team, they tokenize all inventory on the blockchain as eNFTs. Each one contains metadata describing the item’s properties, affiliate requirements, profit share terms, as well as internal SKU or tracking data.

After an eNFT’s mint, the Splyt network broadcasts it, synchronizing inventory across all marketplaces and affiliates. Furthermore, the platform bakes Smart Contracts into each eNFT, thus escrowing all funds to protect customers throughout the e-commerce transaction lifecycle.

If the buyer wants to sell the item, they can relist it on the global database. After that, the eNFT will update and retain its purchase history.