Rapid Insights: Examining Azuki's Scan-To-Own Narrative

Chiru Labs, the creator of Azuki, has made a splash in the market after unveiling Physical Backed Token (PBT), a new token standard, on Monday this week. The new primitive is intended to straddle the line between the physical and the digital realm by forging a digital token that is linked to a physical product.

Although the physical-digital nexus is a burgeoning field that has enjoyed growing interest through brands dipping their toes in the water, Chiru Labs appears to be eyeing a particular problem that the field has been grappling with for a while, that is, maintaining congruence between the physical and the digital product throughout the entire lifecycle.