Aside from transfers, the only practical application that comes to mind for Ethereum or other chains is luxury goods traceability.
This is also why I chose to create a traceability system on Ethereum for my undergraduate design project. It's relatively simple, but the basic logic has been implemented.
Currently, there are several well-known traceability projects utilizing blockchain:
The Aura Blockchain Consortium initiated by LVMH. Although Aura supports Ethereum, it ultimately relies on a private chain to provide digital certificates for brands like LV and Prada.
Nike launched the CryptoKicks NFT in 2021, which was once very popular, binding NFTs to sneakers. However, it has basically stagnated now. The reason is that this method is difficult to adapt to mass-selling shoe models and is only suitable for use with a 'niche capital' approach. Once the NFT trend fades, this route will also cool down.
Arianee is more practical; they bind watches to NFTs, and their collaboration with Breitling has been quite successful, having partnered with over 50 brands and secured 20 million euros in financing.
At the end of the day, luxury goods are aimed at those who are wealthy, have leisure time, and are keen to try new things.
In fields like pharmaceuticals that require serious traceability, centralized platforms like AntChain have long been in operation; handling large batches on public chains is also challenging.
But if we think deeper, what are the true demands of wealthy groups? Essentially: not to be forgotten by the world.
So what can blockchain provide? It precisely offers a capability for 'permanent traceability'.
These platforms on the market focus too much on origin and authenticity but do not address the real needs of wealthy individuals. They don't need to prove that their bag or watch is real; instead, they want others to inadvertently know that they own this bag or watch, as it symbolizes their status.
Here's a thought: hold a luxury purchase quantity challenge on an Ethereum-based platform, paired with traceability. Whoever buys the most will top the leaderboard and be seen by more people (of course, just a hash address or consider social media).
Of course, we also need to consider ordinary players—mapping them out and coordinating with TGE expectations for token issuance. It's essential to elevate the front-end design and add advertisements in upscale venues, creating a consumer psychology where being on the leaderboard makes me feel impressive.
Doesn't this satisfy both 'the novelty for the rich + application'? Hahaha, I always have these crazy ideas; everyone can pay attention to teams doing this kind of thing.
