The recently concluded Miss IMX witnessed the use of blockchain technology in the selection of winners. The inaugural version of the contest, which ended on December 11, was organized by International MotorXpo Hong Kong (IMXHK). Thanks to a collaboration between IMXHK and iSHANG, an NFT-as-a-service (NaaS) company that specializes in Web3 solutions, NFTs were used in the voting process of the contest.
Overcoming the limitations of traditional voting
According to a release by the company, the NFT voting technology has the merits of overcoming the limitations inherent to traditional voting systems.
Miss IMX is Hong Kong’s most prominent automotive-themed event. The winner of the contest as announced by the organizers is @Copy, while the 1st runner-up is @MiFan. Two contestants, @Wendy and @Selina are jointly 2nd runner-ups.
In her comment on the partnership that made Web3 NFT voting possible, Dora Li, Business Development Director at IMXHK, said:
“We are very delighted that through strategic partnership with iSHANG, we can deploy the latest Web3 technology to ensure the fairness and excitement of voting experience of the first Miss IMX Contest, and breakthrough the limitations of traditional voting systems.”
The president and co-founder of iSHANG, Michael Leung, said that NFT is growing to have more use cases beyond in-game collectibles. According to Leung, the adoption of the technology in question represents the missing link between the digital space and the physical world:
“NFT has developed from game-based items – 1.0 – to digital art – 2.0 – to now being a multi-purpose decentralized application that is adopted and used by brands, enterprises, financial institutions, public organizations, and governments – NFT 3.0.”
Leung added that the partnership between the IMXHK and iSHANG is just one way that the company has reified the digital world through its metaverse, which opens new opportunities for businesses as they target new customers.
Web3 NFT featuring real-time voting and transparency
The pioneer NFT voting used in the first Miss IMX contest involved the minting of s new NFT by each voter. This ensured fairness and transparency in the exciting new voting system. All the newly minted NFTs were done at the contest’s website and gave each voter a vote. This means that NFTs are equivalent to one vote and each voter is permitted to mint only one NFT.
The NFTs cannot be resold and are effectively tracked using blockchain technology. The iSHANG voting system encourages transparency by displaying voting status in real time. Another merit of the system is its confidentiality. Voters can choose to be anonymous in the tamper-proof system. The collation and processing of voting demand little effort since it is automated. The voting can also be subjected to an audit to make sure that it is correctly calculated.
Voters rewarded with a collector edition NFT
iSHANG also announced the creation of its Royal Series and said that a collector version would be given to all participants who voted in the Miss IMX contest. A statement from the company said:
“Royal Series NFT” will feature dynamic gifs or short videos of the Miss IMX winners, and can be freely priced and resold on the iSHANG NFT marketplace and other NFT marketplaces (i.e: OpenSea).”
iSHANG describes its operation as the first NaaS (NFT-as-a-Service) business providing enterprise-grade solutions to businesses through its launchpad.