USAA has been granted a patent for systems and methods designed to insure NFTs and other digital assets. Invented by Neetu Jain of Coppell, the approach outlines how a lost NFT could be recovered by locating a digital twin and minting a replacement, or—if recovery isn’t possible—by determining compensation for the owner.
According to the patent, a loss of an NFT may be determined and a search conducted to identify a digital twin; if the twin is found, a replacement NFT may be minted using that twin. If the digital twin is not found, compensation may be determined for the NFT owner. The invention highlights new risk-management approaches for digital assets as NFT markets evolve, potentially impacting owners, insurers, and collectors.
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