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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.

AMSTERDAM, 16 March 2023: Avata, the leading ancillary InsurTech service provider and expert in digital asset insurance solutions is proud to announce that Authic Labs will be the first white-label marketplace for digital assets on Avata’s platform. Avata provides customized insurance and warranty solutions to digital asset owners, and thanks to this partnership, sellers on Authic Labs’ marketplace will be able to offer customized warranties for the NFTs they are selling.

Despite the market value growth of NFTs, the fast-evolving needs of digital assets owners for insurance products are not yet being addressed by the traditional insurance industry. This is why Avata’s solution sets out to connect insurance providers with the world of Web3, and with the digital citizens of today, to co-create the new insurance ecosystem of tomorrow.

Wouter Kloosterman, the CEO of Authic Labs, said: “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.”

Together, Authic Labs and Avata are offering digital citizens reassurance that the value of their digital assets, such as NFTs, are protected – in particular, bringing security and trust to Authic Labs’ customers.

“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.” – Joachim Rittfeldt Hofvenschiöld, Co-Founder of Avata.

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