With the NFT industry gaining more popularity and acceptance, collectors now give more attention to assets’ functions rather than aesthetics. To this end, in a remarkable exhibit of utility, an individual named Chris linked his Tesla model 3 to a non-fungible token.
This incredible display of blockchain sorcery is now a reality courtesy of the powerful Lit Protocol. The Lit Protocol is a decentralized utility that allows distinct access points to an entire realm of experiences. Basically, the protocol offers tools to link devices operated remotely to the blockchain.
Lockable Interactive Token (Lit Protocol)
Lit Protocol is an open-source ecosystem that makes use of blockchain technology and high-level encryption. The protocol enables decentralized apps (Dapp), Non-fungible tokens (NFTs), and blockchain developers to create applications online. The idea behind this is to facilitate ownership of digital assets and community building as hoped for under the reality of Web 3.0.
The co-founder of Lit Protocol, Davis Sneider during an interview with GamesBear, talked positively about the project. He affirmed that the tech allows any individual to store their data in equivalence of gated communities present on the internet.
So far, Lit Protocol has been able to crowdfund about $2.2 million to develop its decentralized network. The network will allow NFTs to function as keys that will give individuals access to exclusive experience and content both in the real world and online.
The round of funding was led by Sfermion and Collab+Currency. Other notable participants in the funding include CMT Digital, G1 Ventures, Tribe Capital, Shima Capital, Lattice Capital, LongHash Ventures, Crowdcreate, Kleiner Perkins, Cryptos Capital, Gumi Protocol Labs, as well as top angel investors.
Chris’s Ingenious
To everyone’s surprise, the initiative behind Lit Protocol has been rapidly adopted by an individual named Chris. Chris Tesla adopted this remarkable tech by linking it to an application launched on Cloudflare. This then enables the platform to establish a safe double encrypted pathway to the controls of his Tesla Model 3. Therefore to have access to the app, the user must link a wallet containing the non-fungible token to the app. If not, the user gets locked out.
In summary, the non-fungible token can unlock and lock the car, start the engine, flash the lights and enable all functionalities to get in and have a smooth ride. All in all, the 10k “Chris’ Tesla“non-fungible token is live and all the items presently belong to the man of the hour.
