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Romania Makes Web 3.0 Move, Launches NFT Trading Platform

UTC by Mayowa Adebajo · 2 min read
Romania Makes Web 3.0 Move, Launches NFT Trading Platform
Photo: Depositphotos

There is now a high expectation that Romania will see a big boost, especially in the area of the adoption of Web 3.0 and blockchain technology.

Romania, keen on driving Web 3.0 adoption in the country, is set to launch a national non-fungible token (NFT) trading platform through the National Institute for Research and Development in Informatics (ICI Bucharest). According to reports, the NFT marketplace, dubbed ICI D|Services, will go live on April 26. That is, public and institutional users may begin to mint, manage and trade their unique NFTs from the said date.

One of the things that Romania will be looking to achieve with the launch is to bridge the gap that exists between private and public sector institutions and users.

Per the report, five unique NFT collections have been developed in collaboration with some prominent Romanian individuals and organizations. So, they are expected to go live alongside the launch of the platform on Wednesday.

Romania Keys into Worldwide NFT Trend

As explained by ICI Bucharest blockchain laboratory coordinator Dr. Paul Niculescu-Mizil Gheorghe, it wasn’t until recently that Romania started focusing on exploring the endless possibilities of blockchain and Web 3.0 technologies. ICI Bucharest was primarily invested in research and development, says Gheorghe. However, as global trends began showing a growing interest in these technologies, particularly with NFTs, it was only a matter of time before it happened.

Gheorghe further explains how NFTs have come to gain so much traction in recent years. According to him, their uniqueness, rarity, and the fact that they have a wide range of use cases, have all contributed to their increased popularity. And as such, they are now assets of great value, even for institutions such as ICI Bucharest.

The coordinator also praised the Romanian government for its role in bolstering adoption. Gheorghe claims that ICI’s NFT project has the full support of the Romanian Ministry of Research, Innovation, and Digitalization. The project is also backed by the Secretariat-General as well.

The proposal of the NFT platform by ICI Bucharest first came in late 2021. And by mid-2022, the institution partnered with MultiversX as efforts to develop the marketplaces architecture went into top gear.

Now that the platform is set to launch, there is a high expectation that Romania will see a boost. Especially in the area of the adoption of Web 3.0 and blockchain technology. And if all works as planned, the move might even pave the way for a more decentralized future in Romania.

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