The last week saw practical real-world applications of NFTs grow with the certification of CaseMail’s NFT postage technology, as well as the development of an insurance system for NFTs, solidifying their growing importance in the blockchain industry.
CaseMail’s NFT postage labels first to be certified by USPS
The United States Postal Service (USPS) has certified CaseMail’s NFT-based postal tracking and content verification technology.
CaseMail tokens can be digitally stamped on USPS ePostage labels, which are then printed out and used across the United States. The unique digital stamp records all data about the shipment and mailing history on the blockchain, creating a verifiable chain of custody for both digital and physical assets.
CaseMail’s postal technology is already being used by law firms and legal departments across the US to provide certified proof of legal correspondence in courts.
“USPS certification of CaseMail provides additional credibility to the debate about the future of NFTs and the wider adoption of blockchain into everyday life,” said Joe Ruiz, founder and CEO of CaseMail.
“Using NFTs to help protect a process that’s familiar and important to everyone – mailing a letter or package – helps demystify this important new technology,” he added.
YAS Insurtech launches world first NFT insurance system
Hong Kong-based insurtech YAS has announced the launch of ‘NFTY’, an NFT microinsurance system in co-development with Generali’s Hong Kong branch.
This microinsurance product will be first used to cover the NFT of ‘Nobody Gets Me’, a non-released song by Hanjin Tan, a Singaporean songwriter and music composer. The policy covers the theft and loss of the NFT for its buyer.
YAS co-founder Andy Ann said that “the launch of ‘NFTY’ demonstrates the potential of microinsurance marketplaces and insurtech companies like YAS, which is far beyond the digital distribution channels of traditional insurers. YAS is planning to launch a series of microinsurance products covering various NFT assets, such as famous paintings, animations, songs, lyrics, audio visual works, watches, cigars, red wines and more, offering the necessary protection for the world’s new economies.”
CryptoSlam receives investment from Mark Cuban and others in first round of funding
Owner of the Dallas Mavericks NBA team and US entrepreneur Mark Cuban has invested substantially into CryptoSlam, an NFT marketplace and data aggregator.
Additional investment was also received from strategic partners Aloomii Inc., Troon Technologies, and GeoAds LLC.
CryptoSlam was founded in 2018 to organise early NFT data, and now tracks over fifty different NFT projects from three different blockchains.
Speaking on his investment, Cuban said that “CryptoSlam has become the industry leader in tracking transactions for NFTs — from watching in real-time what is being listed and sold to being able to trade your NFTs.”
“Mark’s investment comes at the perfect time for us, as we scale up to support the accelerating growth of the NFT industry,” added founder and CEO of CrytpoSlam Randy Wasinger.