Turkish tech firm TOGG unveils smart device-integrated digital asset wallet

ANKARA

Türkiye's Automobile Joint Venture Group (TOGG) has introduced smart device-integrated digital asset wallet to connect mobility technology to the Avalanche blockchain, the company announced on Monday.

"This innovative solution is the first of its kind in the world, providing bank-grade security for users and enabling unlimited use cases such as Smart Device Passport, service history, valuable part tracking, carbon footprint and emission record, and insurance claims and supply chain authentication via smart contracts," TOGG said in a statement.

In June 2022, TOGG and blockchain platform Ava Labs signed a partnership deal to develop and launch safe and secure mobility services powered by smart contracts on Avalanche as a reliable and fast platform that is deeply rooted in technological innovation.

Gurcan Karakas, the CEO of TOGG, said the firm is working to create an open and accessible ecosystem for everyone surrounding its smart device and digital products.

"We aim to take the mobility experience of our users with our product, the digital asset wallet, which we developed on the blockchain of our strategic partner Ava Labs, to the next level. The mobility ecosystem has no limits, it will go wherever we take it,” he added.

Moreover, TOGG is launching a non-fungible token (NFT) marketplace on Avalanche for users to buy, sell, and swap a wide range of NFTs, including art, collectibles, and more.

The TOGG NFT marketplace is accessible through the digital asset wallet, which allows users to safely store, access and transfer their digital assets on the go.

It will offer an "Art Mode" feature that transforms the car's ambiance to match the NFT artwork being displayed on the in-car digital asset wallet.

TOGG's Avalanche-based solutions will open a new perspective for mobility enabling people to easily rent various modes of transportation – such as cars, scooters and parking spots – via one platform with payments for each step of the users' journey securely automated through smart contracts with the digital asset wallet, the company said.

TOGG is a technology company which also developed Türkiye's first homegrown electric car.