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Avata and Authic Labs Announce New Partnership, Enabling Customized warranties for NFTs

Avata and Authic Labs are joining forces to bring Authic Labs’ customers peace-of-mind that the value of their NFTs is covered against loss
By Matias Rodsevich
March 16, 2023

Avata, a prominent InsurTech service provider specializing in insurance solutions for digital assets, has partnered with Authic Labs to create the first white-label marketplace for digital assets on Avata's platform. As a result of this collaboration, sellers on Authic Labs' marketplace can offer customized warranties on the NFTs they sell. This will enable digital asset owners to access tailored insurance and warranty solutions that cater to their specific needs, further enhancing the security and value of their digital assets.

Authic Labs is a software company that offers a straightforward and user-friendly platform for Web2 businesses seeking to venture into the Web3 space to sell and manage digital assets. The exceptional features of the company's platform include its fully customizable interface, integration with a wide range of payment methods, and KYC/AML tools that ensure secure and compliant transactions. The potential of Authic lies in its ability to provide businesses with a powerful tool for connecting with customers and building long-term relationships.

Although the market value of NFTs has been on the rise, the traditional insurance industry has not yet adequately addressed the evolving insurance needs of digital asset owners. As a result, Avata aims to bridge the gap between insurance providers and the world of Web3 and today’s digital citizens to co-create a new insurance ecosystem that addresses these needs.

“Many of the companies we’ve spoken with are hesitant to get started in Web3 due to the complexity of some of the risks surrounding theft and technical failure. Therefore, we are thrilled to partner up with Avata, who is able to offer bespoke risk solutions for the NFTs that are sold by our clients. By offering solutions such as Avata, Authic Labs can address those concerns and pursue our mission of making Web3 accessible to anyone,” - outlines the CEO of Authic Labs, Wouter Kloosterman

Authic Labs and Avata have joined forces to assure digital citizens that the value of their digital assets, including NFTs, is safeguarded. This partnership is particularly beneficial for Authic Labs' customers, as it brings a greater sense of security and trust to its transactions.

“Joining forces with Authic, Avata is bringing the power of Web3 and NFTs to the insurance industry, enabling a new era of secure and transparent transactions for both creators and insurers,” - comments Joachim Rittfeldt Hofvenschiöld, Co-Founder of Avata

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