PluralFi releases their first product: Insurance for NFT holders

First things first, if you are interested join the waitlist here

Plural Finance combines Decentralized Finance (DeFi) and insurance to cover anyone with an NFT portfolio.

The Plural Ecosystem is a symbiosis between Plural DAO, a decentralized member governed organization that provides insurance underwriting capacity, and Plural DATA, a privately held company responsible for insurance product development and claims management.

Insurance may not be as sexy or interesting as AI but risk is the biggest unsolved problem within Web3. If we ever want the general public to start using Web3 technology, we need to be able to provide a safety net.

NFT and wallet holders have suffered from hacks, rug pulls, phishing attacks,…and despite there being over $1b digital assets owned privately, less than 1% are currently insured.

That’s why Plural Finance was born.

Plural’s aim is to make Web3 resilient by providing a safe, decentralized insurance protocol. Plural’s ecosystem is comprised by makers and takers:

On the maker’s side of the market there are two distinct groups: product creators that build risk models and evaluate the risks of issuing a policy contract to a potential insurance taker and underwriters that provide the capital in order to service an insurance policy or a collection of them.

Insurance takers are the “policyholders” in the ecosystem. Using Plural’s platform a policyholder can select the digital asset for which they want insurance; and obtain coverage for the asset from our underwriters.

Plural’s suite of products includes: NFT coverage, DeFi depositors, and other Web3 to Web2 insurance use cases.

The team includes co-founder and tokenomics experts, Viroshan Naicker, CTO and co-founder Gavin Marshall, international experts in Product development, marketing, community as well as Web3 and insurance advisors.

For more information about Plural, please visit http://plural.fi, read our whitepaper and join our Discord @pluralfi