- Romania is doubling down on web3 with an institutional NFT platform.
- The platform is developed by Romania’s National Institute for Research and Development in Informatics (ICI Bucharest).
- It will allow both public and institutional users to mint, manage and trade NFTs.
Romania is doubling down on its web3 campaign with a new NFT platform that links the public and private sectors. The Eastern European country’s National Institute for Research and Development in Informatics (ICI Bucharest) has built an institutional NFT marketplace that allows both public and institutional users to mint, manage and trade NFTs.
The NFT platform dubbed ICI D|Services is developed in partnership with blockchain infrastructure provider MultiverseX and is scheduled to go live on April 26, 2023. The collaboration also includes a decentralized Domain Name System (DNS) and Top-Level Domain (TLD) ecosystem according to MultiversX CEO Beniamin Mincu.
The project is backed by both the Romanian Government through the Secretariat–General and the Romanian Ministry of Research, Innovation and Digitalization.
ICI Bucharest has concentrated on research and development over the past five years, however, last year, it started developing ICI D| Services amid the rapid adoption of blockchain technologies and the growing popularity of NFTs.
Commenting on the decision to build an institutional NFT platform, According to Dr Mihnea Gheorghe, Director General of ICI Bucharest highlighted the growing interest in NFTs because of their ability to create unique and scarce digital assets. Gheorghe added that the ability to apply NFTs in multiple use cases makes them valuable assets for institutions.
In a separate comment sent to Cointelegraph, Gheorghe said: “Our institute wants to create a bridge between the young generations and the public institutions’ values, initiating a comfort zone for the interactions with the digital space.”
The NFT marketplace will debut with five inaugural NFT collections developed in partnership with notable Romanian sportspeople, organizations and institutions including the Romanian Olympic and Sports Committee, the 18-year-old 100-meter swimming freestyle world record holder David Popovici, Romanian news agency Agerpres, national philately organization Romfilatelia and Bucharest’s Central University Library.
According to Gheorghe, the Romanian government could create more income opportunities for the economy by backing projects that promote innovation and entrepreneurship.
“Blockchain technology increases the efficiency of the institutions, to approach solid use cases based on digital asset management, transparency, security in various institutional operations, such as in education, health, transport, land registration, supply chain management,” said Gheorghe.
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