Today, fintech start-up Vaultik launches to unite brands and customers, safeguard luxury products, and overcome the challenges of theft, loss, damage, and product authentication in the luxury market. Vaultik’s solutions are linked to a unique ‘digital vault’ that safely houses, verifies and adds benefits to a digitally-linked certification of ownership for your luxury products. Vaultik is the latest evolution of the 2022-launched Mintouge, the Web3 Luxury platform that was one of eight chosen for the inaugural Dream Assembly Base Camp by FARFETCH and Outlier Ventures.
With a mission to enhance the after-sales experience for brands and customers alike, Vaultik also offers a pioneering warranty and insurance scheme, along with a range of benefits that can be agreed with individual brands and marketplaces.
Once a brand implements Vaultik’s solution – based on a single line of propriety code, with one of the shortest onboarding times in the industry – their customers can immutably record and protect the ownership of their luxury assets like never before. Now, customers’ valued possessions can be enjoyed, or kept, with greater peace. Vaultik’s blockchain-based solution also does not require the use of any crypto currency or NFT wallet, ensuring it is easy to use for any existing customer base. The seamless integration of Vaultik’s plug-and-play solution creates a blockchain link between customers and products with a simple click at the point of transaction – whether in retail or e-commerce environments. From there, customers can track their ownership, access product benefits, and insure the products in a digital vault through a Vaultik mobile app.
Having refined their approach since launching Mintouge, former Meta Global Business Marketing Manager Pietro Novelli, in charge of business partners as well as luxury, fashion and e-commerce, and Bloomberg Digital Strategist Kunaal Chande, proudly launch Vaultik after a successful seed funding round of $2.5 million, led by Ken Cron’s The Operating Group.
Vaultik solves a long-standing challenge for luxury brands and their customers seeking to authenticate and protect their products after a sale has taken place. By offering a unique, easy-to-use solution to some of the industry’s biggest challenges – theft, loss, damage, and authentication – Vaultik reconnects brands, customers and products during the full ownership life cycle.
Certification, Protection, Benefits
By establishing e-certificates on the blockchain at the point of sale, this immutable, brand-validated, record of ownership allows for the authentication, protection and verification of the product no matter how many times it may change hands. From there, a range of benefits can be unlocked.
Vaultik’s insurance-backed protection offers an impressive coverage of up to 90% against potential risks, including loss, theft, damage, and counterfeit products, achieved through a range of trusted brokers, InsurTech solutions, and insurance providers to deliver the best solution for clients and brands. Customers can now confidently embrace their luxury possessions, fully assured that they are shielded from any potential loss, theft, or damage, enabling them to enjoy a lifetime of after-sales benefits and repairs – either directly with the brand, or the brand’s approved suppliers.
Commenting on the launch of Vaultik, Co-Founder and CEO Pietro Novelli said, “Vaultik provides the much-needed solution that protects and connects luxury brands and their clients through every product purchase. Whether you remember your grandmother taking her treasured jewelry and valuable items to a safety deposit box, or you are one of the thousands of people who have been the victim of theft or product damage, we are here to ensure that you have a modern form of protection for your most valuable possessions.
We create a Digital Vault that protects your belongings via cutting-edge blockchain technology like an invisible shield, while preserving luxury brand equity and unlocking incredible new opportunities and experiences. Giving you the peace of mind to wear, carry and enjoy your luxury possessions as the brands intended.”
The Operating Group’s CEO, Ken Cron added, “We are thrilled to support Vaultik in their mission to revolutionize the luxury industry and provide modern, innovative solutions for brands and consumers alike. Vaultik’s pioneering use of blockchain technology to protect and connect luxury products aligns perfectly with The Operating Group’s vision for investing in cutting-edge technologies that drive positive change.”
For Vaultik’s ambitious co-founders, warranty and insurance protection is simply the beginning. In addition to offering a comprehensive record of partner brand purchases and their market values for potential resale and credit opportunities, Vaultik’s future plans encompass a range of enhancements, including the introduction of a specialized repairs service and AR functionality, allowing the holder to wear the product in augmented reality.
Vaultik is the first scale-up globally to combine EU digital ID regulation compliant, blockchain secured certificates and e-Certificates of ownership (unlocking benefits and tracking the post-sale product lifecycle) with on-chain risk coverage that protects against loss, theft, damage and counterfeit products.