Digitals assets are influencing the virtual world with blockchain’s decentralized technology. The steady rise in digital assets tends to offer a series of digital asset management solution. Blockchain’s anonymity, transparency and security gain the attraction of sovereign investors to invest in digital assets rather than the physical assets for blockchain phenomenal features and benefits. As the crowd towards the investment surges to peak, the solution and new innovation to the digital investment opportunities experienced turbulence in the decentralized ecosystem. The sudden spike of NFTs became the most valuable digital asset which costs billions for its unique nature and scarcity. As smart contracts are prone to hacks, to mitigate the risk of accidental failures and theft of such valuable assets DeFi plans to incorporate traditional insurance into the decentralized environment.
What is the necessity of Insurance?
Insurance is the life-saving system during the risk of asset destruction and theft. The value of assets increases with the rise of DeFi services in the blockchain. Providing the cover solution for such valuables builds trust among sovereign investors to invest in digital assets and also allows the investors to cover their digital assets with your insurance protocol. Claiming insurance for your assets is a time-consuming process in traditional insurance, DeFi modernizes the traditional Insurance sector in the decentralized ecosystem by omitting the intermediaries present in traditional finance and fast and reliable claims processing.
Following are digital assets protected by our insurance protocol:
- Digital assets
- Crypto tokens
- Crypto wallets
Benefits of NFT insurance protocol:
- Protection of NFT investments.
- Protection against crypto volatility and flash crash.
- Immediate redemption of NFTs
- Protection against the risk of theft and attack on NFT wallets.
- Protection of funds from hacks on exchange platforms.
- Covers technical and financial risks.
- Immediate claim payouts.
- Trustless claim and risk assessment.
Blockchain App Factory’s expertise in decentralized business development keeps track of the evolution of blockchain and its upcoming services to empower the blockchain community. our proficient team finds NFT based insurance enriches DeFi to experience the benefits of NFT also attracts the NFT owners and creators to the platform. we offer End-to-end Insurance platform development solution for NFT in the decentralised ecosystem with reliable security, transparency and efficient performance for the success of your business journey in DeFi with NFT.