The first products – YPB tracer embedded labels - have been delivered and the company has received first revenues of around 33% of the minimum contracted year-1 revenues.
This marks the commercial launch in the massive collectable sneaker market, initially in the USA.
Over the five-year life of the Master Services Agreement (MSA) with Wireless Applications Pty Ltd (WAPL), YPB is to receive minimum revenue of A$1 million with progressive annual step-ups over the five years.
“Leveraged to US collectables market”
Group chief executive officer John Houston said: “In initially announcing this contract, I emphasised its importance to YPB, being the first monetisation of our large investment in MotifMicro and an explicit acknowledgement of its commercial value, relevance and appeal.
“The receipt of first revenues is early confirmation of that claim.
“Partnering with WAPL gives us leveraged access at negligible cost to an exciting opportunity in the USA collectables market.
“Our technology is based on years of advanced materials science development and Artificial Intelligence (AI) skills in smartphone app development.
“I’ve been convinced of MotifMicro’s enormous nascent value for years and with our first implementation being in an area of such need and scale I’m excited that we are starting to now crystalise that value for shareholders via a leveraged model of partnering with innovators in big markets such as the upcoming launch of SLiiP.”
The maiden commercialisation plan has two steps, the first of which has now been completed:
- Phase one: Supply of labels and scanners
YPB has supplied scanners and a serialised, branded, anti-tamper and anti-counterfeit QR label embedded with YPB tracer. This allows WAPL’s USA based retailers to confirm product authenticity in-store and attract customers in-store. The serialised tags and labels assign a unique digital identity to each collectable item and YPB’s tracer is a physical means to prevent the substitution of fake digital IDs by interjecting fake QR codes. This combined digital and physical counterfeit protection is unique to YPB.
In anticipation of the MM launch, YPB has also embedded MM1 technology in the first supplied products so that when MM goes fully live in the next few months, consumers will be able to self authenticate sneakers tagged prior to MM1’s launch.
The following link demonstrates the scanning of the labels by both smartphone and YPB’s scanner to confirm the presence of both MM1 and YPB trace - www.ypbsystems.com/news.
The second step is:
- Phase two: MM1 smartphone authentication
MM1 technology will roll out when YPB releases an enhanced 'B2C' MM1 consumer app, expected next quarter, and WAPL completes its own specialised collectables app with embedded blockchain records, also due imminently.