It can be difficult for even the most sophisticated authenticator to be sure that a pair of sneakers is legitimate. Entrupy augments their existing expertise … so they know this item is 100% genuine.
NEW YORK (PRWEB)
November 16, 2021
Product authentication technology provider Entrupia announced today that it is expanding a beta testing program for its new sneaker authentication app, which brings the same highly accurate, artificial intelligence-based product verification technology used by businesses and big places market to small and medium-sized organizations.
For the final stages of its application development process, the company invites qualified sellers and resellers of frequently counterfeit sneaker styles, including Nike Air Jordan 1, Adidas Yeezys and Gucci, to join the beta testing program, which will allow them to use the technology for free for the remainder of 2021, at a minimum. The service will include certificates of authenticity and Entrupy’s financial guarantee for the sneakers Interested parties who buy or sell more than 10 pairs per month can request participation through Entrupy’s website.
The Entrupy Sneaker Authentication app brings the same powerful technology that until now was only available to large enterprises as a hardware solution called Legit Check Tech. By releasing an application-only version, Entrupy is making the technology accessible to a wider range of resellers and markets participating in the large and lucrative sneaker economy. Like the enterprise version, the mobile app leverages advanced imagery and a proprietary database with millions of records collected from real and fake products to instantly verify the authenticity of the world’s best-selling styles.
In addition to verifying authenticity, the new Entrupy app provides the imprint and product registration with every item scanned, making them foolproof against exchange. The immutable identifier is created from characteristics invisible to the human eye and unique to each shoe. At any time in the future, the exact identity of this item can be reconfirmed by rescanning and re-checking against the records in Entrupy’s secure cloud database.
The full launch of the Entrupy Sneaker Authentication application is scheduled for 2022. In addition, Entrupy is actively working on building API integration capabilities for third-party markets. This would allow marketplaces that function as intermediaries between sellers and buyers to ensure the authenticity of products sold on their platform without physically owning or inspecting the items. Not only will this increase the confidence of buyers, but it will reduce friction by speeding up shipping times.
In 2020, more than $ 1.3 billion worth of counterfeit goods were seized by U.S. customs and border control (CBP) officials. Further large-scale meltdowns throughout 2021 have led some experts to theorize that the global pandemic has exacerbated the problem, as violators exploit changes in purchasing behavior as well as disruptions in cross-border supply chains to distribute. counterfeit products to unconscious consumers. Since its inception in 2016, Entrupy alone has secured over $ 600 million of customer inventory based on the value of genuine merchandise in the secondary market.
âThe rapid growth and high profits of sneaker resale, especially combined with fragmented and distant digital sales channels, is a big driving force and motive for bad players. As the quantity and quality of their counterfeits continues to increase, it can be difficult for even the most discerning authenticator to have absolute certainty that a pair of sneakers is legitimate. Entrupy augments their existing expertise, giving authenticators the ability to âseeâ things that might otherwise escape notice so that they know that, 100%, this item is genuine, âsaid Vidyuth Srinivasan of Entrupy.
âA few years ago, no one spoke of a ‘circular economy’. Today it’s at the top of the list of ways we can continue to enjoy fashion while taking care of the planet, âSrinivasan said. âFor the circular economy to continue its healthy growth rate, we need to foster confidence in secondary markets, which means strengthening our ability to detect counterfeits and remove them from circulation. The more confidence people have in the products they buy, the more those products – and the market as a whole – can reach their full potential.
To learn more, visit Entrupy Sneaker authentication.
Entrupy is a hardware-based SaaS company that uses computer vision algorithms and microscopy to bring trust in transactions of high-value physical goods. Currently used by hundreds of retailers, secondary brand resellers and marketplaces around the world, Entrupy provides the only scalable technology capable of authenticating luxury goods from brands such as Louis Vuitton, Chanel and HermÃ¨s, among others. The service was launched in 2016, after four years of research led by Ashlesh Sharma, Vidyuth Srinivasan and Lakshminarayanan Subramanian, professor at New York University. Investors include DG Lab Fund, deep learning pioneer and director of Facebook AI Research (FAIR), Yann LeCun, entrepreneur and serial investor Zach Coelius, cloud computing pioneer and vice president of Google Infrastructure Eric Brewer, and Japanese venture capital firm Accord Ventures. The company is a private company based in New York. For more information visit http://www.entrupy.com.
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