"Safe Luxury Purchases Online" ... SSG.com Introduces 'Digital Warranty'

Utilizing Blockchain-Based NFT Technology

[Asia Economy Reporter Jo In-kyung] SSG.com announced on the 25th that it will implement the digital warranty service 'SSG Guarantee,' which certifies the authenticity of luxury goods sold online, starting from the 26th.

This service proactively prevents counterfeit controversies when purchasing luxury goods online by issuing a warranty using NFT (Non-Fungible Tokens) technology directly to smartphones, enhancing security. The digital warranty contains product information, purchase history, warranty period, and security details.

SSG.com issues digital warranties for products bearing the SSG Guarantee logo among luxury brand official store items and verified parallel import luxury goods sold by trusted sellers. It will initially apply to about 20 carefully selected sellers, 90 brands, and 5,000 products, with plans to expand to 10,000 products by the end of the year.

The digital warranty provided by SSG.com uses NFT-based technology developed on the blockchain platform 'Klaytn' by Ground X. Each luxury item is assigned a unique serial number recorded on the warranty, and once created, the warranty cannot be duplicated or tampered with, ensuring excellent security. Instead of traditional paper or plastic cards, the digital warranty can be accessed anytime via the digital asset wallet 'Klip' embedded in KakaoTalk, reducing the risk of loss and making management easier.

Given the high frequency of resale and secondhand transactions in luxury goods, a warranty transfer function is also provided for easy transfer of the warranty. The 'Send' button located at the bottom of the warranty allows transfer to others, certifying the product as an authentic luxury item purchased from SSG.com and enhancing product trustworthiness.

SSG.com also offers a discounted 'Luxury Physical Appraisal Service' conducted by the Korea Luxury Appraisal Institute for luxury goods with digital warranties. Additionally, it operates a 'Counterfeit Compensation Program' that compensates 200% of the purchase price if an SSG Guarantee product is determined to be counterfeit.

Gu Hyo-jung, head of the luxury goods MD team at SSG.com, said, "This service was implemented reflecting the increasing luxury purchases by the MZ generation, who are familiar with digital devices, and their high interest in the presence of warranties. We will introduce various services related to luxury goods to establish ourselves as a platform with both high reliability and product competitiveness."

This content was produced with the assistance of AI translation services.