"No. As long as a user keeps the NFT, Courtyard will maintain custody of the physical asset in the Brink's vault. If a user decides to receive the physical asset, we will burn the corresponding NFT.
Should a user want to re-create an NFT for an asset that has already been redeemed in the past, we would create a brand new NFT that is not associated with the original."
Can I already burn my NFT to get the asset shipped to me?
You will not be able to burn your Courtyard NFT by interacting directly with Courtyard’s smart contracts or by sending it to the null address. The redemption process, once available, includes some legally necessary procedures to follow on our website.
How do you handle KYC/AML?
As of now, there is no solution to guarantee KYC for each transaction on the blockchain. Owners of Courtyard NFTs can sell to any wallet holder on any marketplace, and we do not have control of or visibility to the person behind that wallet.
Because of this, we require users to go through a KYC process before redeeming their NFT for the physical asset associated with it. We will not be able to ship the physical collectible if the KYC process has not been fulfilled.
Have fun on your bachelor's! :D
Thank you! It was a blast, yesterday was a bit of a struggle haha
So much promise for hoarding unopened packs
There's definitely something there!
Interesting read tpan!
One of my main questions is - what happens if a) I lose the physical or b) I sell or lose the nft
How are these two created to guarantee the connectivity in the long term?
Great question! In its current form, these aren't meant to be connected if redeemed.
From their FAQ: https://docs.courtyard.io/courtyard/logistics-and-legal/asset-redemption-and-shipping
Can I get both my IRL asset and the NFT?
"No. As long as a user keeps the NFT, Courtyard will maintain custody of the physical asset in the Brink's vault. If a user decides to receive the physical asset, we will burn the corresponding NFT.
Should a user want to re-create an NFT for an asset that has already been redeemed in the past, we would create a brand new NFT that is not associated with the original."
Can I already burn my NFT to get the asset shipped to me?
You will not be able to burn your Courtyard NFT by interacting directly with Courtyard’s smart contracts or by sending it to the null address. The redemption process, once available, includes some legally necessary procedures to follow on our website.
How do you handle KYC/AML?
As of now, there is no solution to guarantee KYC for each transaction on the blockchain. Owners of Courtyard NFTs can sell to any wallet holder on any marketplace, and we do not have control of or visibility to the person behind that wallet.
Because of this, we require users to go through a KYC process before redeeming their NFT for the physical asset associated with it. We will not be able to ship the physical collectible if the KYC process has not been fulfilled.