Blockticity, a blockchain business, has created certificates on layer 1 Avalanche for products valued at $275 million. Hemp, hallucinogenic mushrooms, and kratom are all used in the first stage of minting. Through its Certificate of Analysis (COA) non-fungible token (NFT) verification mechanism, Blockticity offers certifications of authenticity for belongings. The first minting is for the ACS Laboratory, which conducts potency tests on hemp and cannabis products and verifies that they are free of pesticides and toxins.
With the certifications, fraudsters will not be able to utilise the COAs by altering data or tampering with the QR code since users will be able to track the COAs back to the original laboratory and view product test results. On the products, Blockticity prints a QR code that connects to a COA issued as an Avalanche NFT. Blockticity was employed by ACS Laboratory to create over 35,000 COAs, with a total market value of over $275 million.
The following 120,000 COAs from ACS Laboratory are for cannabis. The work with Blockticity has pleased Roger Brown, president of ACS Laboratory, who noted that the technology enables any COA viewer to track the COA’s origins and identify any inconsistencies. In November 2021, ACS Laboratory and Blockticity worked together to introduce the nation’s first hemp COA as an NFT on the Moonwalk NFT platform.