Photo - Smart Jewelry Lab
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Smart Jewelry Lab

Smart jewelry, platform

Ukraine, Kyiv city
Market: Another
Stage of the project: Prototype or product is ready

Date of last change: 09.01.2020
Min investment
$  90.000
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Total required
$ 180.000
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Idea

Things around us became smart. The old phone is a smartphone now. The TV is a SmartTV. Even home is a Smart Home.
We will change everything. With SJL your jewelry is smart.
We want to disrupt the current paradigm and the entire jewelry market. Your jewelry will not be a simple piece of gold but a business card, key/access card, payment card etc.
We believe that we may help to protect jewelry designers and brand owners from fakes and replicas which undermine trust in their work. We give trust to the secondary jewelry market.

Current Status

under developing

Market

Jewelry market.

Problem or Opportunity

We will change everything. With SJL your jewelry is smart.
We want to disrupt the current paradigm and the entire jewelry market. Your jewelry will not be a simple piece of gold but a business card, key/access card, payment card etc.
We believe that we may help to protect jewelry designers and brand owners from fakes and replicas which undermine trust in their work. We give trust to the secondary jewelry market.

Solution (product or service)

Smart Jewelry Lab (SJL) is the best way for anyone to check if the jewelry is genuine or fake. SJL combines NFC chips, which are embedded into jewelry ring, the SJL app, and the SJL network to provide a fast, simple, and secure way to provide jewelry authenticity.
By facilitating a secure tokenized version of a physical product, SJL allows product-specific services to operate such as transferring ownership, theft prevention, insurance, but also brand activation campaigns and product analytics.
Smart Jewelry Lab lets brands earn money every time their products change owners. For the first time in history, brands can earn money from items sold through the secondhand trade, while simultaneously protecting their markets from counterfeiters. Using the power of the blockchain, authenticity can be checked and ownership can be transferred decades from now, even if the product itself is discontinued, as long as people contribute to the decentralized SJL network.
Smart Jewelry Lab wants to bring back confidence to consumers and allow for jewelry brands to interact with their most heavily vested customers in the most direct way the internet has ever seen. Together, we build a better world in which consumers appreciate the creative work of makers and stop feeding the counterfeit economy.
SJL is the best way for anyone to check if the jewelry is genuine or fake. SJL combines NFC chips, which are embedded into physical products, the SJL app, and the SJL Network to provide a fast, simple, and secure way to provide product authenticity and other services.
SJL wants to bring back confidence to consumers and allow for brands to interact with their most heavily vested customers in the most direct way the internet has ever seen. Together, we build a better world in which consumers appreciate the creative work of makers and stop feeding the counterfeit economy.

Competitors

https://www.luxtag.io - no usability so adoption problems. No NFC functionality, easy to counterfeit.
https://seal.network - no working product. ICO, so no possibility for venture market expansion. Not tailored to the jewelry market specifically.
http://jakcom.com - provide very basic functions for NFC enabled rings. No real solution for jewelry market/trust.

Advantages or differentiators

The Smart Jewelry Lab (SJL) mobile app allows anyone to check if a product is genuine if this product is secured by the SJL chip. Scan it with an NFC-ready smartphone and you’ll get information about the product secured by the blockchain.

SJL NFC chip, mobile app, and blockchain behind it provide trust to jewelry brands. NFC chips provide much better security vs QR-codes and RFID.

SJL creates a token for each individual piece of real jewelry. These tokens are similar to titles to property. We can transfer ownership to the item, block its further sales if the item is stolen, etc. Brands also get detailed information on a product life cycle after it was sold - never before this was done.

As each registered secondary market transaction may cost a fee paid by buyers, brands get a new revenue source. They can choose whether this fee is zero (we can get it done e.g. on EOS based blockchain) or they can make it any amount they see fit and earn money from items sold on the secondary market.
And, most importantly, tokenized items become virtually impossible to counterfeit, solving the biggest market problem.

Finance

With a projected price of hardware and software complex of $ 20 per unit, gross income will be $ 2 million per year.

Brands also pay a monthly fee to maintain the validity of brand accounts and to make changes in case of e.g theft of the item. The fee depends on the number of items sold.

Brands are free to select a fee they want to charge customers to transfer ownership of their items. As some brands may wish to select a very high commission level (like hundreds of dollars) to both get an additional income stream and discourage speculation in rare items, we get a cut (30-50%) of every transaction.

Business model

B2B

Money will be spent on

We are looking for investments of $ 180,000
salary - 53%, marketing - 11%, due diligence pentest - 7%, trips to conferences, exhibitions, hackathons, materials, and R&D -19%, contingent liability - 10%

Offer for investor

We offer 18% equity to the investor with company valuation c. $ 1 million.

Team or Management

Aleksey Chusov
Owner
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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
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Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
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Lead investor
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