Fireblocks Deploys ‘Web3 Engine’ for Firms Eyeing GameFi, NFTs
The custody and wallet tech provider is looking to expand beyond institutions involved in DeFi to a broader developer community around gaming, social media and entertainment.
May 17, 2022 at 11:03 a.m. UTC:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/BQKVUYPXL5DFFAIHCGU63PIIPY.jpg)
Fireblocks sign at Miami airport during Bitcoin Miami conference 2022 (Danny Nelson/CoinDesk)
/arc-photo-coindesk/arc2-prod/public/LXF2COBSKBCNHNRE3WTK2BZ7GE.png)
Cryptocurrency custody firm Fireblocks has launched its “Web3 Engine,” a software developer kit (SDK) to let companies create infrastructure for applications involving non-fungible tokens (NFTs) and decentralized gaming (GameFi).
Appetite for decentralized web services seems to be growing among institutions with the likes of Japanese bank Nomura reported to be creating a subsidiary that will handle decentralized finance (DeFi) and NFTs for clients.
Banks and institutions looking to get into DeFi is something Fireblocks has been working on for some time including by forming a partnership with Aave Arc, said Fireblocks CEO Michael Shaulov. Web3 Engine targets a broader community of developers, he said.
“I think the most obvious clients here, beyond financial institutions that are already working with DeFi, are developers around gaming, social media and entertainment,” Shaulov said in an interview. “Firstly, it’s an SDK for securely managing NFTs at scale, and secondly, to be able to connect to a broad ecosystem of marketplaces, exchanges and other bridges.”
Disclosure
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.
:format(webp)/www.coindesk.com/resizer/ItRkgszFoOqrh5fc7U9BwFgNCog=/arc-photo-coindesk/arc2-prod/public/TH3RMSRO55A43EIYWV4MJAWMLY.png)
Ian Allison is an award-winning senior reporter at CoinDesk. He holds ETH.
Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.