New Chip Could Finally End Luxury Fakes

Counterfeit luxury goods are a huge problem, and fakes are getting harder to spot. A startup called Veritas wants to help with a tiny chip that proves a product is real. Unlike a QR code that can be copied, Veritas's chip creates a unique secure response each time it's scanned and has a tamper-detection wire, making it much harder to fake.

The second-generation chip can now be used on metal surfaces and scanned through glass. That means it can go into jewelry, trophies, and even fragrance bottles. Brands can embed the chip directly into products, and customers can tap their phone to see a certificate of ownership and other experiences like exclusive events or early access to new items.

Veritas just announced a partnership with ATHLOS, a women's track-and-field competition founded by Alexis Ohanian. All 18 championship crowns will include the chip, so winners can verify their prize. The company also put a chip in a pair of LeBron James's first Nike shoes reimagined by an artist, letting people tap to see the shoe's history.

So far, Veritas has raised $1.75 million from investors including Ohanian and DoorDash's co-founder. The company has an iOS app for consumers and a portal for brands. While the chip adds a layer of security, it's not foolproof—determined counterfeiters might still find ways around it, and widespread adoption will take time. But for now, it's a promising tool in the fight against fakes.