Secondary market model

If the owner of the luxury item decides to sell the item, they have to place an NFT token to the Futugo Marketplace. Only items having NFT can be sold on the secondary market. The seller might be additionally asked to take pictures of the current item, showing that the unique label is still in place, or is possessed by the seller. The selling procedure on the secondary market is the same as it is on the primary market – the seller puts the NFT token on the Futugo marketplace, and then the token is sold and transferred to the new owner, the seller has to send the item to the buyer. After receiving the item, the buyer confirms that the item is received. Such a secondary market process can be repeated many times.

Secondary market process scheme