dART — Enabling NFT Insurance Coverage and Protection for All
NFTs are rapidly expanding, growing from a relatively obscure market to generating hundreds of millions of dollars in monthly trading volume. With the NFT market’s continuous growth, already valued at approximately $250 million at the end of 2020, dART is introducing the first platform built to protect against exploitation and hacks of NFTs through the utilisation of a decentralised insurance protocol.
The NFT market has begun to cement itself as a major player within the cryptocurrency space, but not a single NFT platform has incorporated a risk coverage solution for its users. We will be the first platform to address this, providing everyone a safe and secure ownership experience.
Using Insurance to Protect Your NFTs
If you’re reading this, you’ve probably heard of Beeple’s $69 million NFT sale through Christie’s Auction House, CryptoPunks worth millions of dollars each, and the countless other art pieces and digital collectibles that are worth five, six, or seven-figure sums. Considering these rare and highly sought-after pieces command incredibly high prices, it doesn’t make sense to leave them unprotected and uninsured.
Regardless of the sector, whether it be art, real estate, sports cards, or something more niche, any intelligent investor should take out an insurance policy to limit their downside risk. This rings especially true for decentralized markets, as there is a lot less accountability available if a problem arises and there is no centralized party to help resolve it. This is where dART comes in, offering NFT owners peace of mind through our user-centric platform.
Why Do NFTs Need Protection?
NFT protection should be at the forefront of any investor, speculator, or collector’s mind. There is a famous idiom in the blockchain community, “not your keys, not your coins”, with this also remaining true for any tokenized digital asset.
Even NFT platforms that offer their users the ability to store NFTs on a non-native wallet like Metamask present major risks, as hot wallets connected to the internet always have potential vulnerabilities. In the event that the NFT storage platform is compromised, if you accidentally download a virus, or if you experience an exploitation resulting in the loss of your asset, you need risk coverage. dART provides straightforward options with the sole goal of financially empowering NFT owners, picking up the slack that NFT platforms are unwilling or unable to offer their user bases.
All-in-all, if you have any form of significant wealth tied up in NFTs, whether that be hundred, thousands, or millions of dollars, asset insurance is the only way to truly protect yourself in this decentralised economy. Many have made life-changing money through their NFT collections and investments; they are at risk of losing everything they’ve worked for with zero repercussions if they do not take the proper safety precautions. As NFTs continue to establish themselves as a true value-generating asset and store of wealth on par with traditional physical art and collectibles, dART provides the key to make sure they are safe, with their value always accessible to the owner regardless of circumstances.