Wert & Avata partner to offer Fiat-to-Crypto NFT transactions
Avata has recently teamed up with Wert, a recognized provider of payment solutions to offer a secure and convenient NFT buying experience. Established in the year 2020, Wert offers its clientele the opportunity to acquire non-fungible tokens through smart contracts, using fiat currencies as a payment method. This eliminates the need for customers to exchange funds in crypto, which can be a challenging task for some users.
The increasing incidence of hacks and breaches in the Web3 space has emphasized the importance of digital asset security. To address this challenge, Wert, a provider of Web3 payment solutions, has partnered with InsurTech firm Avata to introduce a non-fungible token (NFT) guarantee service. This strategic alliance seeks to strengthen the protection of NFT transactions and offer an additional layer of security for digital assets. The NFT guarantee service promises to provide cover and protection 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 provides 95% payment approval when purchasing NFTs with fiat currencies, which is a significant improvement over traditional payment methods.
However, AvantGuard is an additional service provider that provides personal insurance products to individuals who hold digital assets securely and economically. By offering protection against cyber threats, theft, loss and fraud, the company seeks to protect owners of digital assets from various risks prevailing in the market. AvantGuard’s ultimate goal is to instill trust and confidence among holders of digital assets by ensuring their comprehensive protection.
Wert and Avata’s partnership
The new feature offered by Wert and Avata aims to offer customers first-class protection when purchasing non-fungible tokens. The partnership is a significant milestone for the NFT industry as it addresses one of the biggest concerns of NFT collectors. It is important to note that this option will be exclusively available on platforms that rely on Wert’s payment solution, which is currently used by more than 80 marketplaces, such as Rarible and KnownOrigin. In addition, eBay has recently purchased 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 use 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 alternatives is essential for the rapid acceptance of NFTs.
Prior to the collaboration with Avata, the absence of collateral security for digital assets, including NFTs, had a significant negative impact on the security and expansion of the industry. With the integration of Avata’s guarantee option into Wert’s effortless payment solution, users will have greater security and an even smoother transaction process within the blockchain ecosystem.
The new feature offered by Wert and Avata provides a good deal of protection to NFT collectors. In the event of unforeseen circumstances, such as hacking or theft, the additional warranty option will ensure that collectors are protected against potential losses. The guarantee option will also provide customers with 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 towards the widespread acceptance of NFTs. Together, they strive to provide a smooth and protected NFT buying experience, keeping potential risks at bay. This partnership gives customers comfort, creates a sense of safety and security, thereby facilitating their investment in non-fungible tokens. With the exponential growth of the NFT industry, we can foresee the emergence of innovative solutions that address the concerns of NFT collectors, guaranteeing a more secure and seamless experience.
Ken Emmanuel is a blockchain content writer, a Web3 enthusiast and a social media management strategist, he enjoys writing educational content to help people become more knowledgeable and inspired. The growth of any organization he works with is always his priority. He is a geographer by profession and loves to read.
