Pranksy, the popular NFT collector and influencer, is launching an NFT vault as part of his latest NFTBoxes launch. This new feature is possible through a partnership with Coincover, a leading digital asset protection company. All NFTBoxes bought on the primary market will include a subscription to Coincover’s NFT consumer protection. This is entirely free of charge and will last up to one year. The NFTBoxes are launching soon and cost 0.65 ETH.
What is NFTBoxes by Pranksy?
Pranksy and his team created NFTBoxes to showcase NFT art worldwide. Carefully curated by Pranksy, series 2 of NFTBoxes is launching this week. It is a monthly subscription service that celebrates technology, art and the artist. The project aims to ensure artists are recognised for their hard work, providing fair pay and ethical treatment.
Along with supporting lesser-known artists and creatives worldwide, NFTBoxes has worked with some of the biggest NFT and traditional artists, such as XCOPY and Pussy Riot.
Every box is a tradable NFT. Each box costs 0.65 ETH, and a maximum of 500 are available. Furthermore, each one contains ten or more NFTs. Notably, this will include one headliner, special edition NFT and NFTs from other incredible artists.
Each NFTBoxes NFT comes with access to the NFT vault!
Don’t forget, purchasing an NFTBoxes by Pranksy also gives you access to the brand new, world’s first NFT vault in partnership with Coincover.
Josephine Dwyer-Mann at NFTboxes said, “Pranksy is always looking for a new way to bring inspiring 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. Offering them protection through this partnership was a way to give back to our fantastic NFTbox customers and the wider community overall.”
It is a long-term partnership for Coincover, Pranksy and the NFTBoxes. They will continue to ensure the product evolves alongside the ever-changing needs of the NFT market.
How does the NFT Vault work?
The NFT Vault will protect NFTBoxes holders from both thefts and lost access. These are the two most common ways people lose their NFTs, so prioritising this makes the most sense. The new protection solution by Coincover addresses some of the major concerns around the ‘safety’ of NFTs.
Basically, Coincover offers you protection, using their innovative technology to keep your digital assets safe. Significantly, they also provide financial security and will protect your NFTs with a reclaim option. Depending on the subscription, this can reach up to $20,000.
The length of the subscription depends on the amount of NFTBoxes users purchase. For example, one NFTBox provides access for one month and allows you to reclaim up to $5000 if your NFTs are lost or stolen. However, if you purchase nine NFTBoxes, you will have cover protection for a year and a total reclaim value of $20,000.
Pranksy NFTBoxes offers quick and easy protection
To register for the Coincover protection service is simple. NFTbox collectors need to contact Coincover to activate their NFT Vault protection at no additional cost.
David Janczewski, co-founder and CEO at Coincover, said, “We are thrilled to partner with NFTboxes and Pranksy to launch the first product that offers protection for NFTs. Digital assets have soared in popularity, but as our research shows, there is still warranted concern about the safety of these assets. As a result, we have expanded our crypto protection offerings to give artists, marketplaces and consumers the confidence and peace of mind to buy NFTs and store them safely.
Who is Pranksy, the NFTBoxes creator?
Pranksy is one of the most prominent members of the NFT community. He has one of the most prominent and sought-after collections of NFTs. Significantly, he was an early adopter of NFTs and helped people to learn about the technology.
Because of this and other factors, he is highly influential in the NFT space. He is one of Fortune Magazine’s top 50 most influential people in NFTs.
Now, Pranksy and his NFTBoxes team are working with Coincover’s secure NFT vault technology as they look at ways to help protect people’s NFTs.
Coincover research suggests NFT security is a rising concern
NFT security is a massive concern for those involved in the NFT space and those wanting to join.
As part of their research into NFT security and what people need, Coincover carried out a survey in March this year, asking 1000 people in the UK and US about NFT traders’ main concerns.
The survey contains shocking results, showing how widespread NFT security issues are.
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- Almost two-thirds (65%) are worried about the rise of crypto fraud and want to guard themselves against purchasing fake NFTs and entering scams.
- Nearly three-quarters (70%) of all consumers would be more open to purchasing NFTs if there was better protection.
- All NFT owners (100%) said they would consider buying another NFT if there was more protection against loss and theft.
The research and results show a massive demand for safer ways to protect NFTs. Significantly, NFT scams constantly in the news will discourage new people from entering the space. Hackers and scammers are always coming up with new ways to steal NFTs. Companies like Coincover are working hard to protect users and make the space safer for everyone.
NFT scams are on the rise
Even people who have been in the NFT space for a while can sometimes make mistakes regarding NFT safety and scams. In 2021, Pranksy paid over $300 thousand for a fake Banksy NFT. Although the scammer did return the money, it could have ended differently and for many people, it does.
Now, thanks to Coincover and Pranksy, NFTBoxes holders will have peace of mind about the security of their NFTs.
All investment/financial opinions expressed by NFTevening.com are not recommendations.
This article is educational material.
As always, make your own research prior to making any kind of investment.
