NFTs in Auto Parts: Autentica’s Innovative Platform – NFT News Today

Autentica Car Parts, a start-up based in Sci-Tech Daresbury, has launched a digital marketplace that allows Original Equipment Manufacturers (OEMs) to sell 3D-printable car parts designs to authorized dealers and repair centers. This new platform employs NFTs to protect and certify the designs.

Digital Transformation in the Auto Parts Industry

The platform offers a different approach to how spare parts are manufactured and distributed. Through the use of NFTs, the platform aims to certify that buyers are purchasing genuine OEM replacement parts that can be 3D printed on demand locally. This not only helps the OEMs maintain control over their designs but also helps in preventing intellectual property infringement.

Additionally, the Autentica platform brings forth notable environmental and financial benefits. It claims to reduce non-production costs, such as storage, by up to 70% and also cut down the carbon footprint of transportation by 40%. The platform received funding from Innovate UK and has been tested with 500 customers, including OEMs and car dealers. It also has an international network of 600 3D-printing service providers.

Developed in Partnership

The platform is not a solo effort but the result of collaboration between several parties. The University of Sheffield’s Advanced Manufacturing Research Centre (AMRC) and cloud technology company Oracle partnered with Autentica Car Parts in its development. According to Irma Gilbert, CEO of Autentica Car Parts, the platform integrates three major digital technologies: additive manufacturing, distributed ledger, and artificial intelligence.

Launch Event and Future Prospects

Autentica Car Parts will host a full-day event at Sci-Tech Daresbury on November 1st, 2023, to formally introduce this new offering. This event is expected to feature keynote speeches, presentations, roundtable discussions, and live platform demonstrations.

Irma Gilbert elaborated on the platform’s solutions to current challenges:

“The aftermarket in the automotive spare parts supply chain globally is facing several perennial challenges, such as costly warehouse storage of spare parts; high logistics costs due to time-intensive production and shipping; and low-risk resilience due to cross-border transport, which can affect delivery times significantly. She continues, “Digital technologies are catalysts in delivering a radical transformation to global supply chains by leveraging, among others, the power of automation, analytics and intelligence to improve efficiency, visibility, sustainability and resilience.”

In summary, the Autentica platform is positioned as a solution to various challenges in the automotive spare parts supply chain. These include costly warehouse storage, high logistics costs, and low-risk resilience due to cross-border transport. With the backing of Innovate UK and key industry partners, it aims to offer a more efficient and sustainable model for auto parts distribution and is a great example of the real-world applications of blockchain technology.

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• Source: https://nftnewstoday.com/2023/10/24/nfts-in-auto-parts-autenticas-innovative-platform/?utm_source=rss&utm_medium=rss&utm_campaign=nfts-in-auto-parts-autenticas-innovative-platform