Safeguarding Physical Sneaker Sale Through a Decentralized Medium

Marwan Zeggari; Aydin Abadi; Renaud Lambiotte; Mohamad Kassab

Paper 2023/727

Safeguarding Physical Sneaker Sale Through a Decentralized Medium

Marwan Zeggari

, Lyzis Labs

Aydin Abadi

, University College London

Renaud Lambiotte

, University of Oxford

Mohamad Kassab

, Pennsylvania State University

Abstract

Sneakers were designated as the most counterfeited fashion item online, with three times more risk in a trade than any other fashion purchase. As the market expands, the current sneaker scene displays several vulnerabilities and trust flaws, mostly related to the legitimacy of assets or actors. In this paper, we investigate various blockchain-based mechanisms to address these large-scale trust issues. We argue that (i) pre-certified and tracked assets through the use of non-fungible tokens can ensure the genuine nature of an asset and authenticate its owner more effectively during peer-to-peer trading across a marketplace; (ii) a game-theoretic-based system with economic incentives for participating users can greatly reduce the rate of online fraud and address missed delivery deadlines; (iii) a decentralized dispute resolution system biased in favour of an honest party can solve potential conflicts more reliably.

Metadata

Available format(s): PDF
Category: Applications
Publication info: Published elsewhere. ArXiv
Keywords: Blockchain Distributed Systems Marketplace Matching Incentives NFT Sneakers Game Theory Smart Contract Trustless
Contact author(s): marwan zeggari @ lyzis tech
aydin abadi @ ucl ac uk
lambiotte @ maths ox ac uk
muk36 @ psu edu
History: 2023-05-22: approved; 2023-05-20: received; See all versions
Short URL: https://ia.cr/2023/727
License: CC BY

BibTeX

@misc{cryptoeprint:2023/727,
      author = {Marwan Zeggari and Aydin Abadi and Renaud Lambiotte and Mohamad Kassab},
      title = {Safeguarding Physical Sneaker Sale Through a Decentralized Medium},
      howpublished = {Cryptology {ePrint} Archive, Paper 2023/727},
      year = {2023},
      url = {https://eprint.iacr.org/2023/727}
}