Safety. Security. Preservation. Quality. Care.
These are among the words that immediately come to mind when thinking of how to store valuable items. From precious jewelry to fine works of art, preserving the quality of an item is an important piece of maintaining its intrinsic value. And when it comes to museum-quality perfection, one of the most prestigious storage facilities is Hollywood Vaults.
From its first day, Hollywood Vaults has been a purpose-built facility meant to house the film, tape and photography of our culture’s most celebrated artists. Fine art, fine wine, rare books, maps, manuscripts, gold diamonds, jewelry, wardrobe, antiques, heirlooms, cherished guitars, data, and digital media line the military-grade security-level interiors. Hollywood Vaults has created a high-tech utopia dedicated to protect priceless collections and preserve its clients’ peace of mind.
As far as security, the facilities are virtually impenetrable, unless you’re a client. Each vehicle is recognized to allow automated entry. Access to vaults are recognized through biometric fingerprint readers designed for aerospace. The vaults are held at regulated temperature and humidity levels, while air purification systems constantly scrub the vault’s environment, with filtration systems to kill any microbes, bacteria, and viruses.
With such security around physical property, what would a company like Troika IO—a technology platform that offers crypto products and services for global brands using Bitcoin, non-fungible tokens (NFTs) and other digital assets—want to do with physical vault storage?
For one, storing servers, hard drives, and data in a climate controlled, untouchable, and secure location is a must for sensitive information. Troika IO, however, wants to provide the most untouchable and precise storage for the physical items that its tokens represent, otherwise known as asset-backed NFTs. Like fungible tokens, NFTs can be backed by physical assets.
If you own the NFT, you own the underlying physical asset—often held in custody by a trust company in a secure safety deposit box. Each token is proven to be scarce, non-interchangeable and authentic. Once the physical asset is redeemed from the vault, the token is typically burned.
Artists can interact with luxury items without leaving the vault, and security access is accessible, traceable and transparent—similar to a blockchain.
Rare items like Chanel Handbags or these Jordan x Travis Scott sneakers can be minted as asset-backed NFTs and made available on NFT marketplaces to own as a form of stored value. These items can be backed by items stored at secure locations around the world like Hollywood Vaults to ensure their security, preservation of value, and verification of authenticity.
As Troika IO continues to expand its asset-backed NFT marketplace—whether it's handbags, watches or sports cards—the need for security and accessibility will expand along with it. The sanctuary for preservation provided by Hollywood Vaults and others will ensure that all the items will be cared for with the precision and quality the items stored inside a vault demands.