Introducing Neo’s Consensus 2023 activation: OneBand — A phygital NFT device
Neo has long evangelized its vision of a Smart Economy. Way back in 2017, we described a future where “Smart Contracts + Digital Assets + Digital Identity = Smart Economy”. With the flourishing of what we now call Web3, that Smart Economy vision is becoming more and more a reality as each day goes by.
With the onset of Web3, and other concepts such as the metaverse, people have become increasingly enamored with how we can build interconnected virtual worlds. This exciting frontier has spawned all manners of innovation that change the way we organize ourselves, do business together, play as communities, and connect with each other where data and assets are truly our own.
As we have explored these new ways of connecting, we have also looked for ways to represent our physical world within this new virtual universe. But to date, most of the work that has been done has not been to bridge worlds, but to simply transpose what exists in our physical universe. The connection between the two is often implied, not explicit.
We have seen NFTs representing ownership of estates, art, or collectibles, NFTs that allow owners to redeem physical items, and objects that display digital NFT art — but when it comes to binding real world objects to the digital world in a tactical way, the surface has barely been scratched.
To this end, we are really proud to announce an activation that Neo is bringing to Consensus 2023 in partnership with COZ and AxLabs — the OneBand.
OneBand is a physical ring that is cryptographically bound to an NFT. The two are intrinsically linked. The ring itself is embedded with a secure NFC chip, the same standard as you would find in credit cards or passports. OneBand houses a censored BIP32 master key which supports BIP44 derivations to private keys for most modern blockchains. This allows the ring to cryptographically assert its authenticity across the entire Web3 market segment.
This open hardware technology was developed by two of our amazing communities, COZ and AxLabs, and offers many possibilities. Picture an in-game item that you can only use if you have the physical object. Or, consider leveling up your character by joining real-world events. Imagine collectibles or luxury items being forgery-proof, as they need a secure digital counterpart. Or, how theft of these items would be useless, as proving or transferring ownership without the digital match would be impossible.
There are so many things you could do in the worlds of POAP, brand activations, game interactions, verifications, financial transactions, and more. The ability to securely embed a NFT asset within a physical asset and have it interact with the real world is an nascent frontier.
This technology will be demonstrated at Consensus 2023 in Austin, TX, allowing attendees to collect their own DK1 version OneBand and interact with ecosystem projects within the Neo booth.
Visitors to Neo’s 150 square meter installation will be provided with a paper wallet enabling them to claim an ITEM NFT, GAS, and a commemorative Texas Horned LIZARD NFT. The owner will bind the ITEM NFT to the OneBand in a non-custodial manner, and then be able to affect change on the LIZARD NFT by visiting ecosystem groups exhibiting at the event.
Nine pods will be set up in the Neo booth with different groups from within the ecosystem showcasing their projects to Consensus show-goers. At each pod, OneBand owners can tap-scan their ring to acquire new traits on their LIZARD NFT. It is a simple and fun, but powerful demonstration of how a cryptographically bound physical asset can be bridged into the digital world. It’s all real, and it’s all on MainNet.
As an added incentive, participants leveling up their LIZARD NFTs can use their assets in a post-Consensus online game for a chance to win more Neo ecosystem tokens, with a total prize pool of over US $6,000.
Each OneBand comes bundled with a DevKit, enabling users to instantly delve into creating projects using this innovative technology. Developers can promptly envision novel applications, leveraging Neo’s numerous developer-centric features, including multi-language smart contract support, single-block finality, and native storage, oracle, and name service solutions.
Come visit us!
We eagerly invite all Consensus attendees to check out the Neo booth. The OneBand is a great example of the ongoing work within the Neo ecosystem in creating new blockchain technologies — don’t miss the chance to collect one of your own.
Our booth will have ecosystem projects, developers, and NGD team members ready to meet you and answer any questions about our Neo, its features, and our friendly community.
We’re excited to see you there!