Use NFTs to "amplify" IRL furniture by giving each piece a non-fungible code that may be generated on the blockchain.

IKEA's Space10 research and design team recently developed a completely novel concept aimed at fusing NFTs and furniture. The novel idea is to use NFTs to "amplify" IRL furniture by giving each piece a non-fungible code that may be generated on the blockchain. Eliminating the costly "purchase-to-waste" cycle of most furniture is one of the main objectives of IKEA's project known as Carbon Banks. IKEA furniture is compared to a "carbon sink" in the Carbon Banks idea by Space10, which stops carbon dioxide from entering the atmosphere.

After scanning a code on the furniture, a customer is given the option to mint an NFT, which mostly shows up in their wallet as a tiny seed that will eventually develop into a large, lovely tree. The idea behind the morphing tokens is to link wooden furniture to digital trees that mimic how owners care their home furnishings. An augmented reality component of the NFT artwork shows the tree from which the piece of furniture is built.

Space10 described the technique using the example of buying an IKEA wooden Forest chair for $120. So, when a person purchases a chair from IKEA, they also purchase a morphing NFT, which evolves over time and responds to certain occurrences, such as, for instance, chair repairs. The NFT tied to the chair will also pass to the new owner if the original owner chooses to trade in their piece of furniture. The best proof that NFTs extend the shelf life of IRL objects is provided by this.

Being an environmentally conscious business, Space10 works to lessen its impact on the environment by keeping, fixing, and trading its furniture, most of which is made of wood. Carbon Banks NFTs use the environmentally friendly proof-of-stake protocol, just like the eco-friendly materials used in furniture making.

IKEA's Space10, design and research lab WINT, and interface design and soft robotics researcher Anna Schaeffner have teamed up to bring the creative concept to life.

Therefore, Space10's Carbon Banks idea is a wonderful illustration of how manufacturing organizations may increase the lifespan of their products, lessen their ecological impact, and provide consumers a new immersive way to interact and engage with the things they own.

While the concept is advantageous from all angles, we may anticipate that other businesses would follow IKEA's lead as soon as possible.