YAS and Avata announce partnership for NFT cyber risk cover

The two are onboarding several well-known NFT merchants to cover the risk.

Insurance-on-a-blockchain YAS and insurtech firm Avata have joined hands to launch an embedded NFT warranty service worldwide.

The warranty service is purchased and issued at the check-out stage of NFT purchases, to cover certain cyber hacks and risks associated with the potential exploitation of smart contracts of digital assets.

ALSO READ: What an on-demand insurance product looks like

Together, the two are onboarding merchants, including NIBIRU, Pluck, Bapes, Wert and iKonic whose combined NFT transactional value exceeds $500m. The warranty for the NFTs typically ranges in price from 0.05 - 0.1 ETH. Both YAS and Avata intend to focus on making NFT warranty service essential for every NFT transaction. Their target clients are game publishers, individual artists, museums, and audited NFT project

NFT warranty typically insures the transfer of valuable assets to cover the risk of the asset being intercepted during the process by hackers, a common type of digital crime experienced by game publishers and gamers.

Follow the link for more news on

YAS MicroInsurance

Also Read

Insurance firms lag in climate committees

Howden acquires Storfield to boost Hong Kong operations

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit