banq Improves NFT Infrastructure for Royalties, Storing, Purchase, and even Fraud Prevention

Calling all digital artists, influencers and publishers! banq, the financial management app and the wallet for crypto, now lets you store, purchase, and share non-fungible tokens (NFTs). Cutting-edge features like automated IP enforcement and in-network storage help NFT creators enjoy the full potential of this thrilling medium.

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Building Business Solutions for NFTs

Like early cryptocurrency, NFTs are in their messy teen years. Batteries not included; some assembly required.

nft solutions

Purchasing: Purchases involving cryptocurrency are notoriously complex. Buying NFTs generally means purchasing Ethereum from a crypto exchange or on the marketplace, which means you must first create an account on the crypto exchange (which means extensive identity verification processes). Then, you have to pay a fee to transfer those funds to your wallet in the NFT marketplace, which can take a week. Only then do you bid on a transaction, and when complete, you’re finally done.

Storing: A blockchain is not a database, it’s merely a record of transactions. As such, the blockchain only stores the link to your NFT asset. The actual item is hosted elsewhere. This exposes NFTs to the risks of purposeful or accidental deletion, the host site shutting down, or alteration.

Sharing: By design, you have to pay a fee—called gas—for every action you take on the Ethereum network, even sharing NFTs you already own. Using a platform like banq, that is much more than a smart wallet, gives you a social ecosystem where you can share and promote your beautiful assets.

Enforcement: While smart contracts allow for sellers and buyers to agree on a potentially infinite range of terms, owners must often handle enforcement themselves. And once traded on a second-hand market, the new owner may simply decide to not go through the trouble.

Security: NFTs, like everything that is stored and accessed on a computer, must be secured property. All assets and exchanges are subject to hacks, password stealing, and phishing scams.

Bringing Order and Efficiency to the Budding World of NFTs

banq helps users organize their financial life—business, personal, and anything else. Our NFT and crypto integration brings these capabilities to the NFT and crypto world. What we solve:

nft gas fees

No gas fees

View, share, or gift NFTs to other users in the banq network without costly fees. Our simple interface lets you accomplish all that in a few taps.

nft storage and ownership

Secure storage

All assets are secured on banq’s content vault, ensuring the integrity of tokens and the network at-large. This fulfills NFT’s initial promise of guaranteeing asset ownership, not merely ownership of a related token with an asset address.

banq nfts

Verified by banq

Our Anti-Counterfeiting technology verifies each NFT and the asset owner, preventing fraud and issues with royalties. This users to purchase NFTs on partner platforms simply and effectively, all of which carry the benefits of being on banq’s network.