Galileo Protocol is a Multichain, peer-to-peer community platform created with QRC-20 token and QRC-721 tokenisation technology. Its platform lets brands, owners, and customers discover, browse, purchase, and create NFTs tied to physical assets. These NFTs are called pNFTs. The term pNFTs refers to ‘physical Non-Fungible Tokens’, tokenised physical assets. These can apply to almost anything where ownership is essential, like real estate, luxury watches, and cars. The pNFT is a digital representation of the physical object to which it is linked, a digital twin. It provides all the advantages of a conventional NFT (unique, traceable, immutable, and secure) while abstracting much of the complexity involved in trading a physical asset.
Galileo's pNFTs provide a valuable tool for buyers and sellers to establish the authenticity of the underlying asset. The Galileo protocol will allow most people and businesses to tokenise real-world assets into NFTs. These NFTs are obtainable with fiat or cryptocurrencies, such as $USDC, $LEOX, $QNT, and more. Galileo Protocol offers a plethora of services under its umbrella, including:
- An open source marketplace
- Cheaper and faster transactions
- Currency and pNFT transfer
- A wide variety of pNFTs to collect
- Redemption and escrow system
- Fiat & Crypto payment options
- DeFi lending protocol