Thursday, June 20, 2024
HomeNFTsRomania Launches ICI D|Services NFT Marketplace

Romania Launches ICI D|Services NFT Marketplace

The National Institute for Research and Development in Informatics in Romania is set to launch its own NFT trading platform to improve Web3 adoption within the country. The institutional NFT platform, known as ICI D|Services, will be launched on April 26 and aims to connect private and public sector users and institutions. This NFT marketplace will allow both institutional and public users to trade, mint, and manage non-fungible tokens.

Exploring Web3, blockchain, and NFTs has become a priority for ICI Bucharest in recent years, thanks to their worldwide growth. The institution has been concentrating on research and development for the past five years, but it has now shifted its focus towards these technologies.

Non-fungible tokens have gained immense popularity over the last few years due to their ability to create exclusive and limited digital assets that can be used in various scenarios. They have turned into valuable assets for institutions, which is why ICI Bucharest proposed the NFT platform in late 2021.

The ICI Bucharest blockchain laboratory coordinator, Paul Niculescu-Mizil Gheorghe, said that the Romanian government is supporting the project through the secretariat-general and the Ministry of Research, Innovation, and Digitalization. He also added that the institute aims to bridge the gap between young generations and public institutions to create a comfort zone that allows interactions with the digital space.

ICI Bucharest collaborated with MultiversX midway through 2022 to develop and implement the architecture of the marketplace system. This strategic project using the blockchain infrastructure provider is the first of its kind.

Romania Exploring Web3

The collaboration includes the development of a decentralized DNS (Domain Name System) and TLD (top-level domain) ecosystem. The platform’s launch will feature five rare NFT collections developed in collaboration with several key Romanian organizations, sportspeople, and institutions, including the Romanian Olympic and Sports Committee, David Popovici, the 18-year-old 100-meter freestyle swimming world record holder, Agerpres, the Romanian news agency, Romfilatelia, the national philately organization, and Bucharest’s Central University Library.

Gheorghe believes that the Romanian government’s support for advanced projects such as ICI D|Services will improve the country’s economic ability by generating new revenue options, promoting economic growth, and fostering a culture of innovation and entrepreneurship.

Blockchain technology can enhance institutions’ ability to approach critical use cases related to digital asset management, transparency, and security in several institutional operations, including health, supply chain management, education, land registration, and transport.

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