UAE Based Web3Wed has carried out the first wedding on the Polygon Blockchain with NFT rings that incorporate Bitcoin. According to the press release, Web3Wed allows couples to formalize their relationships using smart contracts on the blockchain which is then updated in case of divorce.
The Blockchain marriage is not considered legal obligation though.
The first blockchain wedding marked the official launch of the Web3Wed.io platform. “The world is changing so fast, but marriages are still the same as centuries ago,” said Yury Reut, the founder, and CEO of Web3Wed.io. “Why can’t we connect people using blockchain? Co-living defeated the old matrimony system; it is a fact.”
Couples choose NFT wedding rings that symbolize their participation in the marriage. Additionally, the service can add Bitcoin to the NFT wedding ring, making it an asset for the couple that would be returned in the case of divorce to the wallet of the ring owner.
“We’re excited to offer an innovative solution to couples who are looking for a new way to formalize their relationship,” said Reut. “Our platform offers a decentralized, secure, and transparent way to record and manage marriages, making it the ideal solution for modern couples.”
The first-ever NFT engagement rings collection by Web3Wed.io will be available in June. Couples can purchase NFT wedding rings and initiate their blockchain marriage with them, while NFT engagement rings will allow them to make a beautiful proposal.
The Blockchain marriage service, Web3Wed.io, hosted the first blockchain wedding on April 28, 2023, at Bali’s K-Club, Ubud. Ilya and Elizabeth tied the knot and recorded their union in a smart contract on the Polygon blockchain.
Could this be the future of all marriage arrangements without the hassle of lawyers.