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Marque Luxury launches verified pre-owned program

By Kristopher Fraser

Jun 11, 2021

Retail

Marque Luxury, a wholesale industry provider of certified pre-owned goods, introduces the Marque Verified Pre-Owned Program (VPO) in cooperation with the artificial intelligence-based authentication provider Entrupy. The two are collaborating on Marque Luxury’s added layer of blockchain technology security in the form of a digital NFT for those purchasing luxury goods in the secondary market.

The VPO program will soon be available to add a digital NFT to authentication certifications, free of charge to Marque’s wholesale clients and Mentor Members. The NFT will act as a digital certificate, assuring both the current and future owners of the item’s authenticity by storing the record indefinitely on the blockchain. With each NFT is a guaranteed authenticity triple check through seasoned authentication experts, A.I. microscopic technology, and third-party macro reviews. The digital certificate will also include a proprietary objective condition grading analysis, plus confirmation that the item is considered sustainable and in the “circular economy.”

Marque Luxury has included Entrupy’s A.I. technology in its authenticity certification process. Entrupy will continue to act as a third-party authentication provider in the VPO program’s authentication process. Entrupy will also add the power of digital fingerprint identification technology to the goods purchased alongside other third-party identification solutions for the physical object. These identification solutions will tie the physical item to the VPO digital NFT certificate.

“We are committed to bringing cutting-edge, innovative solutions to the forefront of the resale space. From our VPO program to Marque Mentor and beyond, our customer base trusts us to be experts on best practices in the resale industry,” said Quentin Caruana, Marque luxury president and co-founder, in a statement. “By implementing this highly anticipated VPO program and using Blockchain and NFT technology solutions, we’re going to continue modernizing the industry for the better.”

“Entrupy upholds our reputation for being the best in the business when it comes to technology and authentication,” said Vidyuth Srinivasan, co-founder and CEO of Entrupy, in a statement. “We’re excited to be a part of the VPO collaboration with Marque because it is groundbreaking for the resale industry at any relevant scale. We believe the VPO program will redefine what trust means in the luxury goods industry and are thrilled to join our trusted partner, Marque, for this pioneering journey.”

Image: Artem Beliaikin / Unsplash