An AssetDID is a new type of identifier that can help reduce the risk of counterfeit digital assets (like NFTs) on any blockchain network, adding an extra layer of verification.
The AssetDID is a unique string of letters and numbers generated from existing datapoints about the asset, including related standards, identifiers, and the blockchain it was generated on.
Using AssetDIDs, anyone can link public credentials to any asset on any smart contract and on any blockchain describing attributes or properties of that asset. Anyone can read these credentials, which are stored publicly on the KILT blockchain.
This means the credentials always stay with the NFT, even if ownership of the NFT changes.
AssetDIDs may also be used to certify properties of physical items, like luxury goods, by linking the physical item with an NFT or smart contract in the digital space.
See KILT founder Ingo Rübe demo AssetDIDs at Polkadot Decoded 2022, learn more about public credentials, and watch a video about AssetDIDs and music NFTs.
