Avata has recently joined forces with Wert, a reputable payment solution provider in order to provide a secure and convenient NFT purchasing experience. Wert, established in the year 2020, offers its clientele the opportunity to procure non-fungible tokens through smart contracts, using fiat currencies as a payment method. This eliminates the need for customers to swap funds in crypto, which can be a challenging task for some users.
The rising incidence of hacks and breaches in the Web3 space has underscored the importance of digital asset security. To counter this challenge, Wert, a Web3 payment solutions provider, has partnered with InsurTech firm Avata to introduce a non-fungible token (NFT) warranty service. This strategic alliance seeks to strengthen the protection of NFT transactions and offer an additional layer of assurance for digital assets. The NFT warranty service pledges to provide coverage and safeguarding against potential threats and risks in the Web3 arena.
The organization is dedicated to mitigating the challenges that often arise during fiat-to-crypto transactions, including complications resulting from user residency, location, and other factors. The tool reportedly offers a 95% payment approval when purchasing NFTs with fiat currencies, which is a significant improvement over traditional payment methods.
However, AvantGuard is a supplementary service provider that delivers personalized insurance products to individuals who hold digital assets securely and economically. By offering protection against cyber threats, theft, loss, and fraud, the company endeavors to safeguard digital asset holders from various risks prevailing in the market. AvantGuard’s ultimate objective is to instill confidence and peace of mind among digital asset holders by ensuring their comprehensive protection.
Wert and Avata’s Partnership
The new feature offered by Wert and Avata aims to offer customers first-of-its-kind protection when purchasing non-fungible tokens. The partnership is a significant milestone for the NFT industry, as it addresses one of the major concerns of NFT collectors. It is important to note that this option will be exclusively available on platforms that rely on Wert’s checkout solution, which is presently used by more than 80 marketplaces, such as Rarible and KnownOrigin. Additionally, eBay has recently acquired Wert’s solution as part of its web3 strategy.
The partnership between Wert and Avata is an excellent step towards achieving mass adoption of NFTs. The two companies are of the opinion that the widespread adoption of non-fungible tokens and crypto will be driven by security and seamless user experience. George Basiladze, Wert’s CEO and Founder, stated that the integration of blockchain technology with conventional services and options is critical to the swift acceptance of NFTs.
Prior to the collaboration with Avata, the absence of warranty safeguarding for digital assets, including NFTs, had a substantial adverse impact on the security and expansion of the industry. With the integration of Avata’s warranty option into Wert’s effortless payment solution, users will have greater peace of mind and an even smoother transaction process within the blockchain ecosystem.
The new feature offered by Wert and Avata provides a great deal of protection to NFT collectors. In the event of any unforeseen circumstances, such as hacking or theft, the added warranty option will ensure that the collectors are protected from potential losses. The warranty option will also offer customers peace of mind and a sense of security, making it easier for them to invest in non-fungible tokens.
Final Thoughts
The collaboration between Wert and Avata is a critical milestone toward the widespread acceptance of NFTs. Together, they are striving to provide a smooth and protected NFT purchasing experience, keeping potential risks at bay. This partnership brings comfort to customers, instilling a sense of security and peace of mind, thereby simplifying their investment in non-fungible tokens. With the NFT industry’s exponential growth, we can anticipate the emergence of innovative solutions that cater to the concerns of NFT collectors, guaranteeing a more secure and seamless experience.