Discover how Romania is pioneering Web3 integration with the launch of ICI D|Services, a national NFT trading platform developed by ICI Bucharest, aiming to bridge the gap between public and private sector institutions while fostering innovation and economic growth.
As the world accelerates towards Web3 integration and blockchain technology adoption, Romania is taking a bold step forward by introducing a national nonfungible token (NFT) trading platform. Developed by the National Institute for Research and Development in Informatics (ICI Bucharest), the institutional NFT platform, dubbed ICI D|Services, aims to bridge the gap between public and private sector institutions and users. With the scheduled launch on April 26, Romania is set to become a frontrunner in the Web3 era, fostering innovation and boosting its economic potential.
The National Institute for Research and Development in Informatics (ICI Bucharest) is set to propel Romania into the Web3 era by introducing an exclusive nonfungible token (NFT) trading platform.
The institutional NFT platform, known as ICI D|Services, is scheduled to go live on April 26, with the goal of bridging the gap between public and private sector institutions and users. As an NFT marketplace, the platform will enable public and institutional users to create, manage, and trade NFTs.
ICI Bucharest’s Blockchain Laboratory Coordinator, Dr. Paul Niculescu-Mizil Gheorghe, spoke to Cointelegraph about the motivation behind Romania’s push to adopt Web3-enabled technologies.
Over the past five years, ICI Bucharest has primarily focused on research and development but has recently shifted its attention to blockchain, Web3, and nonfungible tokens as the field gains global momentum.
Gheorghe highlights the increasing popularity of NFTs in recent years due to their ability to generate unique and scarce digital assets with diverse applications. This has made NFTs valuable assets for institutions, leading to the proposal of the NFT platform within ICI Bucharest in late 2021.
ICI Bucharest began developing and implementing the marketplace system’s architecture in collaboration with MultiversX in mid-2022, marking their first strategic project utilizing the blockchain infrastructure provider.
The partnership also encompasses the creation of a decentralized Domain Name System (DNS) and Top-Level Domain (TLD) ecosystem, as explained by MultiversX CEO Beniamin Mincu in communication with Cointelegraph.
Gheorghe, who holds a PhD in Blockchain Technology and Industrial Engineering, states that the project has received support from the Romanian Government through the Secretariat-General and the Romanian Ministry of Research, Innovation, and Digitalization:
“Our institute aims to establish a connection between young generations and the values of public institutions, initiating a comfortable space for interaction within the digital realm.”
The platform’s launch will showcase five distinctive NFT collections developed in partnership with several renowned Romanian athletes, organizations, and institutions.
Collaborators include the Romanian Olympic and Sports Committee, world record holder in the 100-meter freestyle swim David Popovici, Romanian news agency Agerpres, national philately organization Romfilatelia, and Bucharest’s Central University Library.