April 27, 2023

Romania Eyes Joining Web3 World by Launching Its NFT Marketplace

Romania NFT Marketplace

Romania NFT Marketplace

Romania’s National Institute for Research and Development in Informatics (ICI Bucharest) decided to take a step further in the Web3 world by establishing a national NFT marketplace, according to Cointelegraph.

The NFT trading platform, named “ICI D|Services” allows institutional and public users to mint, manage, and trade NFTs in an attempt to create links between private and public sectors in the company.

According to Paul Niculescu-Mizil Gheorghe, the ICI Bucharest blockchain laboratory coordinator, Romania plugged into Web3-powered technologies due to the popularity gained by the Web3 and NFTs over the past years as they can create unique and scarce digital assets that can be applied across various use cases.

Therefore, these digital collectibles became more valuable for institutions, a matter which pushed ICI Bucharest to think about the NFT trading platform, 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,” he noted.

The NFT marketplace will feature five unique NFT collections developed in cooperation with a handful of leading Romanian sportspeople, institutions, and organizations, including Romanian news agency Agerpres, the Romanian Olympic and Sports Committee, Bucharest’s Central University Library, and freestyle swimming world record holder David Popovici, in addition to Romfilatelia, a national philately organization.

He also pointed out that the Romanian government would support such innovative initiatives, as new ways to generate revenues and boost economic growth, adding the blockchain enhances the efficiency of the institutions, transparency, and security in various institutional operations.

It is worth mentioning that the NFT marketplace is established in partnership with MultiversX as ICI Bucharest cooperated with it to set up the trading platform’s system architecture in 2022. The partnership also includes a top-level domain (TLD) ecosystem and the development of a decentralized Domain Name System (DNS).

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