Dubai, UAE, February 20, 2024 – In an industry-defining move, Pixpel.io, a pioneering multiplatform in the Web3 space, has announced the launch of an industry-first NFT insurance policy for gamers. This groundbreaking initiative, showcased at the AIBC Summit in Dubai, cements Pixpel.io’s position as a leader in the Play-to-Earn (P2E) and NFT sectors.
The newly unveiled NFT insurance represents Pixpel.io’s commitment to security and trust in the volatile world of digital gaming assets. This innovative insurance policy is designed to provide an extra layer of security for users’ NFTs, ensuring that gamers are compensated in case their assets are affected by specified conditions. This move is particularly significant in the context of Web3 games, where NFTs are not just digital assets but also serve as lucrative revenue generators.
Pixpel.io’s NFT insurance is based on smart contract technology, which is central to its functionality. These self-executing contracts, stored on the blockchain, are used to automate transactions and enforce the terms of the insurance policy. The transparency and reliability of these smart contracts are crucial in establishing Pixpel.io as a transparent and trustworthy platform.
The insurance policy works as follows: when a player purchases an NFT from a developer, the transaction doesn’t move directly from buyer to seller. Instead, it’s governed by a smart contract, valid for three months, with a 10% fee for contract creation. This contract can be renewed up to three times, with incremental renewal fees, ensuring extended protection for the gamers’ investments.
To claim the warranty, certain conditions must be met, such as game downtime, unavailability of the NFT in-game, lack of communication from game developers, withdrawal issues, a significant drain of the game’s token supply, or any form of developer malpractice like rug-pulls. This comprehensive set of criteria is designed to cover a wide range of potential issues that gamers might face.
The announcement of this insurance policy comes at a time when Pixpel.io is expanding its presence in the Web3 ecosystem. The platform, known for its specialized services to both gamers and developers, has recently been selected for the AIBC Startup Pitch and will exhibit at the AIBC Dubai event. These developments highlight Pixpel.io’s growing influence and commitment to enhancing the gaming experience in the Web3 space.
In addition to the NFT insurance, Pixpel.io is also set to introduce two distinct CIS-2 wallets – one each for developers and gamers. These wallets are tailored to meet the specific needs of their users, streamlining the process of game creation, NFT trading, and gaming experiences. This initiative, backed by Concordium’s advanced wallet and identity features, further demonstrates Pixpel.io’s dedication to providing secure and efficient solutions in the GameFi sector.
Moreover, Pixpel.io’s collaboration with Concordium has empowered the platform to address key challenges in the GameFi industry, particularly concerning regulation and security. The partnership aims to create a trustworthy and protected ecosystem for both gamers and developers, addressing the concerns that have long plagued the sector.
As Pixpel.io prepares to unveil its innovative NFT insurance at the AIBC Summit, the platform reaffirms its position as a leader in providing secure and comprehensive solutions for the Web3 community. With a focus on transparency, security, and user-centric services, Pixpel.io is poised to redefine the gaming landscape in the blockchain era.
About Pixpel.io
Pixpel.io is a cutting-edge multiplatform in the Web3 space, dedicated to revolutionizing the Play-to-Earn gaming sector. The platform offers a range of services for gamers and developers, including a specialized wallet, a centralized exchange for NFT trading, and an industry-first NFT insurance policy. Backed by Concordium’s blockchain technology, Pixpel.io is committed to establishing a secure, transparent, and thriving ecosystem for the GameFi industry.
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Website: https://www.pixpel.io/
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