NFTBoxes are monthly boxes containing expertly curated NFTs from legendary NFT collector pranksy. Yesterday, they announced the launch of NFT Vault.
This is the world’s first NFT protection service, developed in collaboration with Coincover. Coincover is a company that specifically focuses on the protection of digital assets such as NFTs.
It is especially important given the fact that the NFT market has seen various unfortunate events. Recently, the Premint NFT platform lost about half a million worth of Ether to attackers due to a malicious link. Also, Pranksy himself fell for such incidents and mistakenly paid more than $300,000 for a fake Banksy NFT.
However, things are going to be different on the NFT vault. Users purchasing the NFTboxes will receive consumer protection from Coincover for up to 12 months. In addition to that, existing NFTbox collectors can also avail themselves of the protection via contacting Coincover at no additional cost.
This innovative service offers solutions such as protecting consumers from the theft and loss of NFTs. All this will evolve along with the changing needs of this market. It is essential given that the current offerings are deemed insufficient on the security aspect.
On this announcement, Josephine Dwyer-Mann of NFTboxes said:
“Pranksy is always looking for a new way to bring truly exciting ideas to the NFT market and Coincover’s world’s first NFT protection is a revolutionary step within the space. The NFT community is important to us and, by offering them protection through this partnership, it was a way for us to give back to our fantastic NFTbox customers and the wider community overall”.