Can insurance products for Web3 be built?

Yes, we think so

While we believe that insurance products for Web3 can be built, a key concern is whether they are affordable and how to address potential issues such as fraud.

We are confident that these issues can be addressed and use insurance for NFT holders as a test case. We aim to protect NFT holders, like Kevin Rose, against smart contract risks. To achieve this, we need to deeply understand smart contracts and build user-friendly interfaces that help them understand the agreements they sign. Insurance serves as a final fail-safe measure.

By focusing on NFT holders, we aim to build a gateway to more general insurance products for Web3 businesses and protocols. However, we recognize that protocols are complex and messy, so we need to gain traction and deepen our understanding before we can offer insurance for them.