A pioneer in the field of digital physics, CEO of Phygital Labs Huy Nguyen believes that digital physics is the next step of technology and is an integral part of digital life, even a huge part of the digital economy. in the near future.
Fate with digital physics
While working for Google in Silicon Valley (USA), Huy Nguyen returned to Vietnam during the COVID-19 epidemic and fell in love with work in Vietnam. With early experience in accessing blockchain from years of working in many countries around the world, in 2020, Huy Nguyen co-founded a start-up on the blockchain platform.
In 2021, this start-up began launching a few solutions related to blockchain technology. In October 2023, Phygital Labs Company with Nomion digital physics solution was born, immediately followed by a race to bring digital physics into applications and explore the market.
Huy Nguyen explained that digital physics (Phygital) is a fairly new concept in the world, combining physical products (Physical) and digital products (Digital). This is a solution to move the real world to the digital space to create new values in the digital space from data and assets in the real world.
Phygital Labs' core solution is Nomion - formed through the application of RFID technology (Radio Frequency Identification - object identification using radio waves) and blockchain (block chain technology) to help connect real products with the digital world, thereby creating valuable digital products, ensuring transparency and uniqueness of products in both real and digital space.
At the same time, Phygital Labs' ecosystem applies LiDAR technology (Light Detection And Ranging - infrared light scanning and measuring technology) and VR/AR (virtual reality, augmented reality). Thus, Nomion creates identities for real products, even intangible products, and from creating unique digital products and then bringing this product to the digital space, providing a visual product experience with a compelling story. With product history guides, global customers can easily access both physical and digital products.
Explaining how the Nomion solution creates digital value in real life, Huy Nguyen gave the example that customers who want to buy goods sold in India or Egypt must go to the place to buy them. If buying on e-commerce platforms, online sites
It is very difficult to distinguish between real and fake. Having a digital ecosystem and products having digital identities will greatly increase the value of the product. The product value can increase 5 or 7 times because this is a product that has been identified by the owner and the owner's reputation, guaranteed by digital identification.
"The Nomion solution not only identifies objects but also identifies cultural products, spaces, architecture... to create a new source of revenue and add value to real-life products" - Huy Nguyen emphasized.
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Nomion solution has contributed to increasing product value by 50% for Le J' - a specialty coffee brand established in 2018 under The Le's Brothers Coffee Corporation. At the time when the chip was not installed, the price of each bag of specialty coffee was 800,000 VND/package/200g.
After installing the chip and conducting identification, the unique story of the farm with an area of over 10 hectares cultivating special standard coffee quickly spread globally.
Immediately after that, the product value of Le J' coffee brand increased and was sold for 1.2 million VND/package/200g. Or Ortho, one of the pioneering digital fashion brands, has applied the Nomion solution to the Starlight sweater collection, allowing owners to embroider their own NFT with
The frame is 3D printed on the shirt and the shirt is embedded with a chip to create the uniqueness of the product... 300 limited edition Ortho Starlight sweaters were sold out within 24 hours at a price of 660 USD/piece.
"For the Vietnamese market, unique Vietnamese fine art products alone are a huge "warehouse" to go to the world via physical and digital routes and bring outstanding value" - Huy Nguyen said.