This new AI-powered insurance platform merges NFTs and DeFi

  • Day By Day, a Web3/AI-driven insurance platform, merges NFTs with DeFi to create a global decentralised insurance network.
  • Day By Day’s asset register app allows users to protect valuables, earn DBD tokens for proof of ownership, and convert NFTs into physical insurance policies.
  • CEO Bill Angelidis emphasises Day By Day’s mission to provide transparent, personalised asset protection.

Day by Day, an insurance platform driven by Web3/AI, aims to disrupt the insurance market by combining NFTs with DeFi, creating a decentralised global insurance platform.

Day By Day unveils AI-powered multichain Web3 insurance platform

Day By Day is an AI-powered multichain Web3 insurance platform that aims to transform the insurance industry by fusing blockchain, real-world assets (RWAs), and AI. Users of the site may protect their valuables by downloading the asset register app from the App Store or Google Play.

After registering, individuals can photograph their valuables and include them in the platform’s consensus proof of ownership. After registering an asset, users are rewarded with the DBD token, which is the platform’s native digital asset.

Nonfungible tokens (NFTs) are converted into physical insurance policy instruments by Day By Day. People can use this strategy to hold NFTs as an investment and a way to obtain insurance coverage.

Also read: Google Play allows developers to incorporate NFTs into their apps

Day By Day offers lower prices on NFT insurance in return for the ability of customers to burn DBD tokens, hence reducing the overall supply.

The Underwriting DeFi Pool model is the foundation of Day By Day’s organisation. A large percentage of insurance premiums are distributed under the model into locked and accessible liquidity pools.

By ensuring that half of the underwriting is always protected, this method guards against weaknesses in smart contracts.

Also read: Renowned Director Stephen Chow Ventures into Web3+AI with OKX Collaboration

Day By Day CEO’s future insight

Encapsulating Day By Day’s philosophy, CEO and founder Bill Angelidis stated, “We don’t sell insurance. People come to us to get protection for real-world assets that are valuable to them in a transparent, on-demand, personalised way like never before.”

Furthermore, Day By Day intends to launch a decentralised autonomous organisation (DAO) initiative soon in order to democratise the insurance sector by granting people complete control ability.

Sylvia-Shen

Sylvia Shen

Sylvia Shen, a news reporter at BTW media dedicated in Fintech and Blockchain. She graduated from University of California, Davis. Send tips to s.shen@btw.media.

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