The Day By Day team are excited to announce the launch of our Web3 insurance platform testnet! The platform went live to early waitlist members last night at 7:45pm AEST and had over 350+ testnet NFTs minted overnight.
Day By Day have developed a unique use case for NFTs in the form of decentralised insurance policies. This is the first part of a web3 App which will disrupt the global insurance industry for real world assets with on-demand, trustworthy and transparent insurance.
The platform, which uses Polygon Mumbai faucet funds, enables users to test the function of building insurance policy NFTs from a selection of asset categories, events to insure against, and time periods.
Insurance Policy Attributes
Day By Day are launching the decentralised insurance platform testnet with 6 asset categories and 4 insurance events:
- Vehicle Impact
By holding a Day By Day insurance policy NFT, you are not taking out insurance cover, but rather, investing in an income-generating assets that insurance customers use to protect their assets, paying you a percentage of their premium for the use of your policy.
The Day By Day insurance policy NFT holder does not take on the risk of the asset coverage, but rather, is backed by DeFi underwriting and staking pools.
Day By Day insurance policy NFT holders become what we call an ‘insurepreneur’, promoting the use of their NFT to insurance customers whose assets match the assets in the NFT policy.
Early players on the testnet have the opportunity to earn rewards by:
Step 1: Follow @daybydayio on twitter
Step 2: Share a screenshot of your NFT and tagging @daydydayio on twitter
Step 3: Fill out the feedback form from the Feedback and Suggestions button on the testnet with a link to your twitter post and your Polygon wallet address
Disclaimer: The Day By Day team will ensure eligibility requirements are met to airdrop the 250 DBD rewards. Accounts sharing others’ NFTs will be disqualified from the competition. Testnet rewards will only be for those who complete eligibility requirements and submit their feedback before 11:59pm AEST 30th September 2022.
You can access the testnet at https://testnet.daybyday.io