Payment solution provider Wert partners with Avata to offer a secure and seamless NFT purchase experience. Founded in 2020, Wert enables its customers to purchase non-fungible tokens directly from smart contracts. Individuals can pay by using credit cards without any need to swap funds in crypto. The company focuses on resolving fiat-to-crypto transaction failures that often occur due to users’ residence, location, and other reasons. The tool reportedly offers a 95% payment approval when purchasing NFTs with fiat currencies.
Avata is an ancillary service provider that offers customized insurance solutions to digital asset holders securely and cost-effectively.
Wert and Avata’s new feature offers customers first-of-its-kind protection when purchasing non-fungible tokens. It’s worth noting that the option will only be supported on platforms that leverage the checkout solution provided by Wert. The solution is currently used by over 80 marketplaces, including Rarible and KnownOrigin. eBay, which is developing its web3 strategy, has also recently acquired Wert’s solution.
Generally speaking, the partnership aims to provide NFT collectors peace while scaling the adoption of web3. The companies believe that security and smooth experience are the keys to the vast adoption of non-fungible tokens and crypto.
“We’ve always believed that mass adoption of NFTs will happen quickly when blockchain technology is neatly placed ‘under the hood’ and traditional services and options are weaved in. Until this partnership with Avata, the lack of warranty protection on NFTs, or any digital asset, was heavily holding the industry back in terms of security and growth. With Avata’s added warranty option to Wert’s seamless payment solution, customers will have peace of mind and experience a more seamless process within the blockchain space,” said the CEO and Founder of Wert, George Basiladze.
Avata is a digital asset insurance platform that offers customizable coverage for cryptocurrency and non-fungible tokens (NFTs). Founded in 2020, the platform aims to provide a secure and cost-effective solution to the increasing risks associated with the ownership and storage of digital assets. One of the key features of Avata is its customizable coverage options, which allow customers to select the specific assets they want to insure and the coverage amount. This flexibility ensures that customers only pay for the coverage they need, and they can adjust their coverage as their asset portfolio changes.
Avata's insurance policies cover a range of risks, including theft, hacks, and other types of loss or damage. The platform uses a combination of on-chain and off-chain data to determine the value of the insured assets and to validate claims. This approach ensures that claims are processed quickly and efficiently, reducing the potential for fraud or errors.
Avata is a part of our Batch 8 Financial Services Program in APAC.
Written by: Valeria Goncharenko
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