[PR – British Virgin Islands, 30th May 2022]
Zetrix, the Layer 1 public blockchain network facilitating smart contracts and delivering privacy, security, and scalability, has announced the launch of an innovative NFT based insurance product, Covinsure.
Covinsure breaks new ground by providing insurance using blockchain technology and cryptocurrencies as rewards. Covinsure is the techiest Covid-19 insurance users can acquire, to add the insurance requires 1 USD or 1 USDT payable where individuals can receive a payout of 20 ZTX tokens and an NFT when claiming.
With the help of blockchain technology, Zetrix has simplified getting insured (as well as being paid out), as users only require their passport and a Zetrix wallet. The coverage is valid for up to 1 year and starts after an initial 14-day qualification period. After the qualification period, If a person tests positive for covid-19, they can claim the insurance and receive 20 ZTX, with a new commemorative NFT and a personalized message.
To claim the insurance, users must get tested at one of the Zetrix approved testing labs, upload the certificates’ QR code positive result to the wallet with their NFT certificate, to receive 20 ZTX. This NFT insurance product is an innovative product by Zetrix to pilot application NFTs and has opened the doors for new opportunities within the crypto space.
The minting of NFTs on the Zetrix blockchain is one of the most environmentally friendly options on the market as the energy utilized to mint is 100,000 times lower compared to the conventional option of the Ethereum blockchain. Therefore, the reduced computational energy needed to process the transaction results in lower gas fees for the minting of Zetrix-based NFTs, and in turn lower overall cost to existing traders, as well as a minimal carbon footprint.
To understand more about the NFT Insurance Product, visit https://covinsure.zetrix.com/#/
Zetrix is a layer-1 public blockchain that facilitates smart contracts and delivers privacy, security, and scalability. The cryptographic infrastructure in Zetrix can be introduced in multiple industries to connect governments, businesses, and their people to a global blockchain-based economy.
The cross-border and cross-chain integrations enabled by deploying rapid solutions to the market with meaningful benefits and real-world impact for economic sectors form the foundations of Zetrix, which aims to make native blockchain and cross-chain solutions truly accessible and effortless.