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What is NFT Protect?
NFT Protect is a decentralized, non-custodial protocol designed to protect digital assets from theft, phishing attacks, social engineering, and accidental transfers, creating a more secure and reliable market for all participants.
NFT Protect utilizes Protected NFT technology and decentralized dispute resolution layers (like Kleros.io) to provide a secure and seamless self-custody solution for digital asset owners, which allows them to confidently manage and transfer their assets, knowing they have a reliable means of protection in case of theft or compromise. NFT Protect offers a unique solution that combines the convenience of the traditional world with the advancement of the DeFi ecosystem.
With NFT Protect, users can easily send their original NFT to the protocol and receive a "protected NFT" (pNFT) in return. The pNFT can be used like the original NFT, including in supported protocols and marketplaces for transfer and sale. In the event of theft, phishing attack, or wallet compromise, the original owner can initiate a dispute in a decentralized court and request that the pNFT be burned and reissued while keeping the original safe.
The clients of NFT Protect primarily include:
- 1.Digital Asset Owners: Individuals or entities who own digital assets such as non-fungible tokens (NFTs) and seek to protect them from theft, phishing attacks, social engineering, and accidental transfers.
- 2.Traditional Art Owners: Individuals or entities owning traditional art assets who wish to tokenize their assets using NFT technology, creating a secure and traceable record of ownership while benefiting from the added protection offered by NFT Protect.
- 3.NFT Marketplaces: Platforms facilitating the buying, selling, and trading of NFTs that can integrate NFT Protect's solutions to provide additional security and protection to their users.
- 4.NFT Projects: Projects operating within the NFT and blockchain space that can leverage NFT Protect's technology to add an extra layer of protection for their assets, enhancing the overall value proposition for their users.
- 5.Digital Art Creators: Artists who create digital art and other digital assets and want to ensure the security and protection of their work when minted as NFTs.
The mission of NFT Protect is to safeguard people from losing their digital assets and make the digital asset market safer and more reliable, increasing trust and attracting new users. To achieve this, we offer a user-friendly decentralized application that is easy to use, even for those unfamiliar with the NFT world.
The core values of NFT Protect include the following:
- Security: Ensuring that digital assets are protected from theft and compromise is at the core of NFT Protect's mission. By offering a decentralized, self-custody solution that utilizes protected NFT Technology and decentralized dispute resolution, NFT Protect aims to provide a high level of protection for digital asset owners.
- Transparency: NFT Protect is committed to building trust in the digital assets market by making it safer and more reliable for all participants. By utilizing decentralized dispute resolution, NFT Protect aims to create a fair and transparent system for resolving disputes and protecting the rights of digital asset owners.
- Inclusivity: NFT Protect believes everyone should be able to safely and securely participate in the market for digital assets. By offering a simple and accessible solution for protecting digital assets, NFT Protect aims to make the market more inclusive and welcoming to new players.