In response to the growing need for digital asset protection, web3 payment provider Wert and insurtech service Avata have introduced a groundbreaking NFT warranty service designed to safeguard collectors’ investments against smart contract hacks.
In the first quarter of 2023, the web3 domain experienced a series of cyber attacks, with hackers exploiting more than $320 million. Ensuring the safety of digital assets is of paramount importance, especially for potential users.
Web3 payment provider Wert, in collaboration with insurtech service Avata, has introduced a novel nonfungible token (NFT) warranty service to address the security concerns of both existing and potential collectors.
The announcement stated that the optional NFT warranty would cover up to 90% of the digital asset’s value in the event of a smart contract breach.
In a recent interview, George Basiladze, Wert’s co-founder and CEO, emphasized that such a solution helps bridge the “trust” gap while providing essential protection for a diverse group of collectors.
Basiladze asserted that offering warranties for
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Author: Bralon Hill
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