Partnering with Entrupy, the most advanced technological solution for authentication, the VPO program will create NFT’s on the blockchain which will store the authentication certificate and condition rating.
From the Press Release:
Prominent pre-owned luxury resale and technology disruptors join forces to introduce added purchase protection with new blockchain-powered authentication technology.
IRVINE, Calif., June 10, 2021 /PRNewswire/ — MARQUE Luxury, the wholesale industry’s leading provider and authority of certified pre-owned goods, introduces the Marque Verified Pre-Owned Program (VPO) in cooperation with the artificial intelligence-based authentication provider Entrupy. The two are collaborating on MARQUE Luxury’s added layer of blockchain technology security in the form of a digital NFT for those purchasing luxury goods in the secondary market.
The VPO program will soon be available to add a digital NFT to authentication certifications, free of charge to MARQUE’s wholesale clients and Mentor Members. The NFT will act as a digital certificate, assuring both the current and future owners of the item’s authenticity by storing the record indefinitely on the blockchain. With each NFT is a guaranteed authenticity triple check through seasoned authentication experts, A.I. microscopic technology, and third-party macro reviews. The digital certificate will also include a proprietary objective condition grading analysis, plus confirmation that the item is considered sustainable and in the “circular economy.”
MARQUE Luxury has included Entrupy’s A.I. technology in its world-renowned authenticity certification process. Entrupy will continue to act as a third-party authentication provider in the VPO program’s authentication process. Entrupy will also add the power of digital fingerprint identification technology to the goods purchased alongside other third-party identification solutions for the physical object. These identification solutions will tie the physical item to the VPO digital NFT certificate.
“We are committed to bringing cutting-edge, innovative solutions to the forefront of the resale space. From our VPO program to MARQUE Mentor and beyond, our customer base trusts us to be experts on best practices in the resale industry,” added Quentin Caruana, MARQUE Luxury President and Co-Founder. “By implementing this highly anticipated VPO program and using Blockchain and NFT technology solutions, we’re going to continue modernizing the industry for the better.”
“Entrupy upholds our reputation for being the best in the business when it comes to technology and authentication. We’re excited to be a part of the VPO collaboration with MARQUE because it is groundbreaking for the resale industry at any relevant scale. We believe the VPO program will redefine what trust means in the luxury goods industry and are thrilled to join our trusted partner, MARQUE, for this pioneering journey,” said Vidyuth Srinivasan, Co-Founder and CEO of Entrupy.
About MARQUE Luxury
MARQUE procures authentic pre-owned designer goods through direct purchase from the public and industry-specific dealer auctions and was established to support high demand globally. It primarily sells items through various wholesale channels, Re-Commerce Hubs, omnichannel distribution online, and joint venture partnerships. The company has multiple showrooms and fulfillment locations across the United States, including Las Vegas, Dallas, Atlanta, Los Angeles, New York, and Miami, with corporate headquarters in Irvine, California. Internationally, the company maintains locations in Indonesia, Japan, Hong Kong, and Korea, with headquarters in Singapore. Learn more about MARQUE Luxury by visiting https://www.marqueluxury.com/ or following the company on Instagram @MarqueSupply.