NFT – O2feel will equip its electric bikes with a digital passport –

This is exclusive information that we present to you here. O2feel, a French brand that innovates in the world of cycling. As far as we know, they are the first bike manufacturer in Europe to equip their bikes with this NFT technology with a digital passport proposal (based on the experience of another French company, O’Code. We show you.

Before talking about O2feel, NFTs in two parts

NFT (Non-Fungible Token) has been in the news for a few months (4-5 years to be exact). This technology, which is based on the principle of blockchain, has not yet found its useful application in the world of cycling. With the O2feel and their electric bikes, there is. Let’s first try to explain to you what NFT is.

Simply translate the Non Fungible code into its exact “Non Fungible Active” translation and leaving that won’t make you much more. So a non-fungible asset is a unique non-exchangeable asset. It is unique because it has its exact identifier. Your passport could, in theory, be a non-exchangeable asset. Unique and tamper resistant.

Except that a well-equipped and unscrupulous forger can relatively easily (and with these risks and risks) copy your passport once, twice, or thrice… the ID code changes all the time (literally all the time). Only its owner has the digital key to manage his NFT.

Application areas of NFTs

NFT technology appeared less than 5 years ago, and is an implementation of the so-called Web 3.0. Immerse yourself in the world of sports, games, luxury and art at NFT. For example, the Roland Garros Championships for sale in 2022 has offered 5,000 tokens (“RG Game, Seat & Match”), representing a virtual numbered seat at Philippe-Chatrier Center Court.

Artwork for sale at NFT on SuperRare

Each non-fungible token was offered at the unit selling price of €200. We did not check if 5,000 units were sold. If so, that represents 1 million euros in trading volume. Still in sports, the French company Sorare1 hot now. I just signed a partnership with the NBA (go to read our post on LeBron James if needed). in the art world2, luxury. luxury3consumer goods4 NFTs are the new El Dorado.

Rationale for NFTs?

Initially, NFT mainly applies to digital and virtual products. It is also a technology that makes it possible to identify (and protect) products with high added value. A vintage Cheval Blanc bottle, a Louis Vuitton bag, a jewel from Cartier … Products that must be safe, documented, impossible to copy, impossible to steal.

Uh wait! Products that need to be safe, validated, impossible to copy, impossible to steal, and high value-added (service), doesn’t that sound very much like your bike? okay then. And the French company O2feel clearly understands this.

And concretely for O2feel, what is the purpose of these NFTs?

Bike theft, these brakes

Stuck in the flag, a thief puts his hands on your bike

A specific and frequent barrier to owning (and thus using) a bike is theft. Theft and concealment. In France, it is a kind of baptism and dubbing. You are only a true cyclist if you can proudly announce that you have had at least one bike stolen. It’s pathetic.

Public authorities are trying to find solutions with a few veloboxes placed here and there, 10 safe parking spaces for bikes at the foot of the station, with a gas plant set up around Bicycode and a commitment to tag your new bikes. Biklon manufacturers offer connected bikes (which isn’t often, they only have a tracker and a small app). A set of basic but not fully functional devices.

What if your bike became an NFT?

It’s somehow O2feel’s suggestion. Their bikes remain very real. On the other hand, from this month they will incorporate NFT technology through a French supplier, OCode, on every bike that comes out of their product line, from the design and manufacture of the bike, to little by little. Concretely, for you, the bike owner, you will have a unique and tamper-proof digital passport attached to your bike.

What is the O2feel NFT Digital Passport?

It is first and foremost a recognition of ownership“Chloe Labado, director of communications and press relations for the brand, told us. He left the 54-size O2feel iVog factory on September 20, 2022, which you bought at Les rois de la petite reine on Saturday, October 29, 2022. It is yours. Blockchain technology proves it.” If it is stolen from you, however, it is theoretically unsalable.The day this bike is returned to the aftermarket service system, for electronic maintenance, it is automatically and immediately recognized as stolen.

Predictive and proactive bike maintenance

The digital passport is also a way for O2feel to know the exact age of a bike, without any possible error. Its maintenance in particular. If a bike chain equipped with this technology, unfortunately, has a design flaw (for example, the taillight connectors need to be changed), O2feel can send a message to the owner: “Urgent, for your own safety, go to your bike dealer“.

Ultimately, the O2feel Digital Passport will make it possible, similar to what is happening in the automotive world, to have predictive and predictive bike maintenance. Les rois de la petite Reine will know exactly what to do on the blue iVog I bought on October 29, 2022. They probably should still check the tire pressure!

A digital passport is not…

Endorsed by Xavier Moleux, Brand Marketing Manager; It is not an intrusive technology. “We will never communicate with the user and the owner of the bike, and on the other hand we will be able to communicate with the bike, nuance.” ; Add : “Then in France, there is the General Data Protection Regulation (GDPR) law that prohibits it. Owner data is anonymous and protected.“.

On the other hand, this is also very interesting,”If the owner wishes to communicate with us via his digital key, he can do so.” Also, since the entire history of a bike cannot be tampered with, when you resell your bike, it doesn’t have a talkative value, but a value based on its history. And when you buy it, you know you’re not buying a stolen bike.

But then, NFT technology, what to think about?

As always, especially in digital innovation, the break can be seen as a step towards more absurdity. In the end, it is just a matter of applying innovation.

Today, it is now possible to exchange everything and anything in NFT currency (you have to buy it in cryptocurrency, but US dollars are often accepted). For example, the first tweet written by Jack Dorsey, founder of Twitter, before it was put up for sale (April 2021) was valued at $48 million. It was finally acquired for $2.9 million USD.

Jack Dorsey, tweet it Not was worth Not 48 million dollars

After a year (April 15, 2022) its owner cannot sell it for more than $7,000. Big deal!

Live progress?

As hard as it is to fathom the benefit of spending nearly $3 million to own the first tweet in history; We also understand the interest of NFT technology in combating counterfeiting and steganography in particular.

When we see O2feel’s proposal, we tell ourselves that this technology may have found a useful application in our little queen’s world. In this case, we put a large “yes”. It is not yet known if your O2feel iVog will be cold in the metaverse. We are investigating this.

1 Sorari, their site is there. NBA news here.
2 Want to learn more about NFT’s work in the art world, an article from Le Figaro is here (shared).

3 NFT application in the world of luxury, Givenchy, for example.
4 In the world of consumer goods, Budweiser lands there

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