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Can NFTs be insured, and who carries the risk?

Nike and RTFKT launched Nike CryptoKicks in the beginning of the year which is a collection of NFT sneakers called the “RFTKT X Nike Dunk Genesis,”. Owners can personalize these sneakers using ‘skin vials’ from different designers by adding new patterns and effects such as flashing lights and floating swooshes. Some of the NFT sneakers have already fetched more than $100,000. With so much spending in the NFT space, the biggest question that needs to be answered is ‘Can NFTs be insured?’

Nike CryptoKicks

The Past and Present

The first NFT-Quantum was published in 2014, but the NFT world has gained a lot of traction in the past year. The Merge created by an anonymous digital artist Pak was sold for a record-breaking $91.8 million in December’21, making it the most expensive Non-Fungible token (NFT) transaction to date. Beeple’s latest masterpiece artwork was sold for $69 million. 

The Merge

According to NFT stats compiled by Chainalysis Inc., the NFT marketplace grew to almost $41 billion in 2021, closing in on conventional art sales. 

The Scam Game

According to a report in Decrypt, the designers of the Big Daddy Ape Club scammed investors out of $1.13 million, making it the largest ‘rug pull’ in Solana blockchain’s history.

Recently, an attacker hacked into the Instagram account of the Bored Ape Yacht Club (BAYC) and stole about $3 million in NFTs. The hacker used a phishing link to steal tokens from victims’ cryptocurrency wallets. 

Non-Fungible Tokens can’t be traded interchangeably due to their unique numbers and codes. Because NFTs are so expensive, hackers and scammers have been actively eyeing the NFT world for their monetary gains. For buyers, digital security has become a serious concern.

Ensuring digital assets is an absolute necessity now, so the question here is whether NFTs can also be insured? The answer is, yes. Buyers may get compensated for fraudulent activities in the following situations:

a)In case, the private key is lost by the owner.

–When an NFT is created, it has dual keys: private and public. The blockchain ledger maintains the public key whereas the private key acts as proof of ownership.

b)When scammers sell replicas and fake digital assets.

c)Damages caused by intervention on the blockchain.

What’s happening in the NFT Insurance space?

Coincover provides corporate and consumer protection for NFTs through an insurance-backed solution. The company protects its partners’ wallets and the NFTs they possess from hacking, phishing, and other illegal activity, while also providing an insurance-backed guarantee in the event that something goes wrong. This is in addition to their disaster recovery service, which is a backup key recovery service that allows NFTs to be recovered in the event of lost passwords.

Due to increased demand from NFT holders seeking security against hacking and theft, Hong Kong-based virtual insurer OneDegree has teamed up with Munich Re to insure digital assets.

Recently, Amulet has secured $6m in its first funding round to provide insurance coverage in the Web 3.0 world which includes NFTs as well. The first Rust-based decentralized finance (DeFi) insurance protocol will utilize Solana’s PoS network to provide insurance service and stable returns. Using its unique Protocol Controlled Underwriting and Future Yield Backed Claim mechanisms, the firm will reduce the risk for underwriting capital providers.

The Challenges

A report by Technavio predicts that the NFT market will grow by $147.24 billion from 2021 to 2026 at a CAGR of 35.27%. With this growing demand for NFTs, there is a pressing need for NFT protection in the virtual world. Ensuring an NFT would be very different from insuring a conventional product or service. Insurers have three key challenges that they need to address when it comes to insuring NFTs:

  1. Uncertainty is involved in the valuation of NFTs since there isn’t any fixed market price. 
  2. Lack of structured and unified legal framework for ensuring NFTs.
  3. Ambiguity in the scope of the risks associated with NFTs is compounded by the fact that technology is evolving at a rapid pace.

The Road Ahead

The dynamics of the NFT market has changed in the past few months. After witnessing a fall in the NFT prices, user expectations have also changed dramatically where NFT utility is the latest lookout for the NFT customers. One of the most common utility is NFT being used as a gaming asset. Be it an art NFT or utility NFT, its loss may have serious repercussions not just for the owner, but also for the entire ecosystem, as NFT may lose its value if it is not secured. Open Sea – the world’s largest NFT marketplace lost $1.7 million worth of NFTs due to a phishing attack. A Bengaluru-based caricature artist found that one of his artworks was listed on Open Sea, without his knowledge. The media and insurance companies have been paying close attention to massive losses like these. NFT owners and creators will seek insurance to protect them as they become more aware of the risks involved in owning digital assets. With pioneers such as Coincover and Amulet leading the way, it’d be intriguing to see how the development unfolds in the NFT insurance space.

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Sales Applications Are Disrupting More Than Just Sales

Sales success today isn’t about luck or lofty goals—it’s about having the right tools in your team’s hands, wherever they go. Following our earlier in-depth exploration of sales technology, we will now examine how cutting-edge sales apps are becoming the backbone of modern industries, transforming complex workflows into seamless, growth-driving machines.

From retail to healthcare, logistics to real estate, businesses are deploying sales applications to enhance operational transparency, cut redundant tasks, and build intelligent sales ecosystems. These tools are not only digitizing workflows—they’re driving growth, improving engagement, and redefining how field teams operate.

Lead Ecosystems: Unified visibility across channels

One app. Five workflows. Zero friction.

A leading insurance brand relaunched their app—a sleek, powerful sales companion that’s turning everyday agents into top performers.

No more paperwork. More time to sell.

Here’s what changed:

  • Every visit is tagged, tracked, and followed through. Renewals? Never missed. Leads? Fully visible.
  • Attendance and reimbursements went on autopilot. No more manual logs. No more chasing approvals.
  • New business and renewals are tracked in real time, with accurate forecasting that sales leaders can finally trust.
  • Dashboards are clean, configurable, and useful—insights that move the business, not just report on it.
  • Seamless Integrations. API connectivity with Darwin Box, IMD Master Data, and SSO authentication for a unified experience.

The result? A field team that moves faster, sells better, and works smarter.

Retail: Taking Orders from the Frontline—Smartly

Field sales agents in retail, especially FMCG, used to rely on gut instinct. Now, with intelligent sales applications:

  • AI recommends what to upsell or cross-sell based on previous order patterns
  • Real-time stock availability and credit status are visible in the app
  • Geo-fencing ensures optimized route planning
  • Built-in payment collection modules streamline transaction closure

Healthcare: Structuring Sales with Compliance and Precision

Healthcare leaders don’t need more reports—they need better visibility from the field.  Whether it’s engaging hospital networks, onboarding clinics, or enabling diagnostics at the last mile, everything needs precision, compliance, and clarity. 

Mantra Labs helped a leading healthcare enterprise design a sales app that integrates knowledge, compliance, performance, and recognition, turning frontline agents into informed, aligned, and empowered brand advocates. 

Here’s what it delivers:

  • Role-based onboarding that keeps every level of the field force aligned and accountable
  • Escalation mechanisms are built into the system, driving transparency across commissions and performance reviews
  • A centralized Knowledge Hub featuring healthcare news, service updates, and training modules to keep reps well-informed
  • Recognition modules that celebrate milestones, boost morale, and reinforce a culture of excellence

Now, the field agents aren’t just connected—they’re aligned, upskilled, and accountable.

Real Estate: From Cold Calls to Smart Conversions

For real estate agents, timing and personalization are everything. Sales applications are evolving to include:

  • Virtual site tour integration for remote buyers
  • Mortgage and EMI calculators to increase buyer confidence
  • WhatsApp-based lead capture and nurture sequences
  • CRM integration for inventory updates and automatic scheduling

Logistics: From Chaos to Control in Field Coordination

Field agents in logistics are switching from clipboards to real-time command centers on mobile. Modern sales applications offer:

  • Live delivery status and route deviation alerts
  • Automated dispute reporting and issue resolution tracking
  • Fleet coordination through integrated GPS modules
  • Customer feedback capture and SLA dashboards

What’s new & what’s next in Sales Applications?

Here’s what’s pushing the next wave of innovation:

  • Voice-to-Text Logging: Agents dictate notes while on the move.
  • AI-Powered Nudges: Apps that suggest next-best actions based on behavior.
  • Omnichannel Communication: In-app chat, WhatsApp, email—unified.
  • Role-Based Dashboards: Different data views for admins, managers, and field reps.

What does this mean for Business Leaders?

Sales Applications are not just tactical tools. They’re platforms for transformation. With the right design, integrations, and analytics, they:

  • Replace guesswork with intelligence
  • Reduce the cost of delay and manual labor
  • Improve agent accountability and transparency
  • Speed up decision-making across hierarchies

The future of field sales lies in intuitive, AI-driven applications that adapt to every industry’s nuances. At Mantra Labs, we work closely with enterprises to custom-build sales applications that align with business objectives and ground-level realities.

Conclusion: 

If your agents still rely on Excel trackers and daily call reports, it’s time to reimagine your sales operations. Let us help you bring your field operations into the future—with tools that are fast, field-tested, and built for scale.

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