That internet of things thing is promising, but imho no one has yet identified which problems the people really want to solve.
Ultra-cheap wifi/sensors/little_but_not_too_much_cpu/extensible modules are yet to come, what will happen when 4-5$ modules will be available?
I have had similar ideas for a long time, ever since I was passed the possession of the (defunct) skivsamling.nu. One idea, as a motivator, is for insurance purposes.
I can see a lot of applications, but for it to take off it has to be fun to do it.
Also, do you have an idea of how to identify each object?