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Romania Launches National NFT Marketplace

Romania’s Informatics Institute is to launch an institutional NFT trading platform, which is supposed to link the public and private sectors

Romania NFT

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The institutional NFT platform from Romania’s National Institute for Research and Development in Informatics (ICI Bucharest), dubbed ICI D|Services, will go live on April 26. It aims to link private and public sector institutions and users with the help of Web3.

The marketplace enables the trading, minting and management of NFTs for both public and institutional users.

ICI Bucharest blockchain laboratory coordinator Dr. Paul Niculescu-Mizil Gheorghe explained that ICI Bucharest had shifted its attention to blockchain, Web3 and nonfungible tokens as their capability of creating unique and scarce digital assets could be applied across numerous use cases.

The institution began developing and implementing the marketplace system’s architecture in late 2021. It partnered with MultiversX blockchain infrastructure provider for the new project, backed by the Romanian Government through the Secretariat–General as well as the Romanian Ministry of Research, Innovation and Digitalization

Except for the marketplace, the partnership also includes the development of a decentralized Domain Name System (DNS) and Top-Level Domain (TLD) ecosystem.

At launch, the platform will feature five unique NFT collections developed in collaboration with prominent Romanian sportspeople, organizations and institutions (e.g. Romanian Olympic and Sports Committee, David Popovici, Agerpres, Romfilatelia and Bucharest’s Central University Library).

Gheorghe believes Romanian government support of innovative projects enhances the country’s economic potential, generates new revenue streams and fosters a culture of innovation and entrepreneurship.

Last year, crypto started affecting the broadcasting industry of Romania, as the first national Bitcoin-based live streaming service, Bitcoin TV, began operations in the country.

Nina Bobro

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Nina is passionate about financial technologies and environmental issues, reporting on the industry news and the most exciting projects that build their offerings around the intersection of fintech and sustainability.