Providing assurance to digital assets owners
While the demand for digital assets insurance is growing, the insurance sector is complex, fragmented and not yet adapted to this type of new risks.
Avata solves this problem by offering a plug and play global solution specifically designed to insure digital assets such as NFTs and gaming-specific digital assets from the risk of theft. For companies that sell digital assets directly or through marketplaces, Avata is an innovative way to generate ancillary revenue.
Whether embedded or opt in insurance, Avata’s got you covered.
The story of Avata starts with a discussion at a restaurant table between Sung Feng Wu, a seasoned executive with a long career in Fintech and Joachim, a former professional gamer and coach, now multi-entrepreneur in gaming-related ventures. The problem they identified was that while gamers’ digital assets were becoming vital for professional gamers as well as for casual gamers, the risk of losing them because of theft or technical disruption was increasing - and nothing was available to cover that risk!
This realisation led to the idea of an insurance solution specially designed to cover the risk of digital assets losses. Their initial idea transformed into an innovative solutions that provides a customised local insurance offering for every digital asset owner.