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.”
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