A question we get asked often is “How can I protect my non-fungible tokens (NFTs) from malicious attacks? So far the solutions have required KYC and insurance to be purchased separately for each protocol. However, the NFT ecosystem is evolving at a frantic pace with newer solutions and as such we are delighted to partner with dART, the world’s first decentralized, peer-to-peer NFT insurance coverage platform.
How it works
The rapid rise in the popularity and valuation of NFTs make these digital assets essential to protect against unforeseen security risks. dART’s platform enables users to receive coverage for NFTs by acting as an insurance intermediary between buyers and sellers such as independent artists, brands, and institutions.
dART’s decentralised insurance ameliorates the issues that currently plague the traditional insurance market such as time consuming KYC requirements, inability to secure refunds or modifications, and other rigidities with having to purchase insurance for pre-specified amounts.
Its smart contract enabled protocol circumvents KYC requirements and tracks NFTs in real time as well as allocates an exact amount of insurance to the asset, thus protecting it at an optimal rate. Moreover, its tokenized feature opens up a secondary marketplace to resell insurance to interested buyers.
Says Reda S, CEO of dART:
“This partnership brings value to both — Blind Boxes and dART, but more importantly to users and NFT asset buyers. For the client — it makes it easier to access insurance of NFT.”
Blind Boxes x dART
dART will integrate their platform with Blind Boxes, thus allowing custodians of rare, digital collectibles as well as creators to insure their assets and mitigate unforeseen risks.
Says Anita Angelica Moore, co-founder & CEO, Blind Boxes:
“We are always striving to enhance the user experience on the Blind Boxes platform and adding an extra layer of safety through a seamless integrated insurance protocol is the natural step forward. Hence we are pleased to partner with a strong project like dART”
dART is the first decentralized, peer-to-peer NFT insurance coverage platform. With the exploding interest in NFTs around the world, it is time users are able to fully protect their digital treasures, which can easily hold multimillion-dollar price tags. If you owned a physical piece of art, it would be foolish to have it uninsured, as if it gets damaged or stolen, you have no recourse. We apply the same concept to the blockchain world, offering insurance and assurance to NFT holders on various platforms. This will eliminate the user’s fear of losing the value they have accrued in their NFT collections.
About Blind Boxes
Blind Boxes is a gamified curation platform and launchpad for NFTs (non-fungible tokens). This highly scalable dApp enables brands and creators to diversify their revenue streams, increase the liquidity of their creative assets, and to become leaders in decentralized global economies, while engaging fans and buyers to discover and collect rare, limited edition NFTs.
Via the Blind Boxes Marketplace, buyers experience the thrill of time-released curated NFT collections. Here collectors unlock sealed packages of exclusive items, curated by tastemakers across the arts, music, & entertainment. Curation is at the core of our value proposition. The platform offers a commission structure that incentivizes independent contributors to produce bespoke blind box collections that feature top-tier talent and emerging artists and designers from around the world.
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