LABS Group Announce its Partnership with Polkacover on DeFi & NFT Products
Hong Kong, Feb 7, 2021 — LABS Group, a Digitized Real Estate Investment Ecosystem, announced a strategic partnership with Polkacover to provide DeFi and NFT insurance products. Polkacover is the First DeFi insurance marketplace for the global crypto ecosystem. The partnership will bring DeFi and NFT insurance products to the untapped Digitised Real Estate Ecosystem market.
Being built on Polkadot, PolkaCover is creating the first insurance marketplace for securing crypto, DeFi & NFT assets for retail crypto users, as well as providing crypto focused insurance products backed by both traditional and decentralized insurance providers. With the ever-increasing number of hacks, scams and rug pulls in the DeFi/ crypto sector, the growing demand for crypto insurance products is inevitable.
Recently, LABS Group has partnered with Enjin to create fractionalized NFT Property Assets, which are freely tradable and easily accessible, allowing people to invest in real estate for as little as US $100. LABS also work with Centrifuge to provide Defi collateralized property backed lending to LABS token holders.
Polkacover will be collaborating with LABS Group to provide insurance products like homeowner insurance, property insurance against catastrophes, Landlord personal liability cover and impermanent loss cover on the NFT Property Assets.
“Our vision is to bring the crypto ecosystem as a whole, enhanced security, and unparalleled end-user ease of interaction”, said Kunal Sadani, CEO of Polkacover. “We are excited to work with LABS Group, who has a potential massive community base in the untapped Digitized Real Estate Investment market. The partnership will help us to align with our mission to bring insurance products to the masses.”
“It’s rare to find an insurance marketplace for crypto, especially for DeFi and NFT assets. Through this partnership, we will provide innovative crypto insurance products with easy-to-use interface for our LABS tokens holders, mitigating their risks and offering them the protection through transforming insurance products”, says Yuen Wong, CEO of LABS Group.
LABS Group has gained strategic partnership in the blockchain and real estate space around the world, covering America, Europe, Greater China Region, Middle East, etc. For now, LABS has received strategic investment from some top property fund companies. LABS Chairman is a member of the Harilela family, one of the most prominent families in Hong Kong.
About Labs Group
LABS is a digital investment platform that provides access to fractionalized property ownership and enables the continuous trading of real estate assets-backed tokenized shares on a regulated security exchange.
LABS uses blockchain technology and smart contracts to ensure complete transparency over a borderless ecosystem where property developers and investors can interact seamlessly and with unprecedented efficiency.
Real estate and blockchain professionals have brought together their expertise to devise an ecosystem of services that make property investment more accessible, more secure and more liquid. For more information on LABS, feel free to find us on https://labsgroup.io.
About Polkacover
Polkacover is a global Defi-Insurance marketplace that provides will several insurance products geared in providing safeguards for Crypto, DeFi & NFT asset users from over 120 countries. Individuals can use the upcoming Polkacover marketplace to search, compare & buy multiple insurance products backed by traditional insurers or through our community governed P2P insurance platform.
Polkacover is being built on the polkadot ecosystem, Polkacover aims to be the missing link that will connect the mass crypto market users with a unique marketplace to provide them insurance coverage on their crypto, DeFi & NFT Assets.
