Zetrix, a Layer 1 public blockchain network that facilitates smart contracts and delivers privacy, security and scalability has announced the launch a new NFT-based insurance product, Covinsure.
Covinsure offers insurance with blockchain technology and cryptos as rewards. This is a first for the industry. 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.
Zetrix makes it easy to obtain insurance (and get paid out) by using blockchain technology. Users simply need their passports and a Zetrix wallet. After the initial 14-day qualification period, the coverage begins and can last up to one year. If a person tests positive to covid-19, they are eligible for insurance. They will receive 20 ZTX along with a commemorative NFT.
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. Zetrix has created a new product called NFT Insurance to pilot NFTs. It also opens the door for other opportunities in crypto.
NFTs created on the Zetrix blockchain are one of the most eco-friendly options available. The energy required to mint them is 100,000 times less than the Ethereum blockchain. Because of the lower computational energy required to process transactions, there are lower gas fees and lower overall costs for Zetrix-based NFTs. This results in lower overall cost to traders as well as a smaller 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 contract and provides privacy, security and scalability. Zetrix’s cryptographic infrastructure can be used in many industries to link governments, businesses, employees, and citizens to a global blockchain-based economy.
Zetrix’s foundations are cross-border and crosschain integrations that can be achieved by quickly deploying solutions to the market, with significant benefits and real economic impact.