Digital asset custodian Hex Trust has launched a secure way of storing valuable non-fungible tokens (NFTs).
- In an announcement Wednesday, Hex Trust, which is licensed as a trust company in Hong Kong, said its NFT Safe service provides custody support to NFT collectors and investors within its Hex Safe platform.
- NFTs, digital tokens widely used for collectibles such as art, are soaring in popularity, with prices recently reaching into the millions of dollars for rare or desirable items.
- Thus, Hex, which says NFT Safe is a "world first" service, believes it has become important to provide collectors and institutions with safe custody of valuable NFT assets.
- The Hex Safe platform supports NFTs from multiple blockchain platforms, including Ethereum and its ERC-721 and ERC-1155 token standards.
- “Given the demand and market growth [of NFTs], Hex Trust is fully committed to focus on this sector and stay at the forefront of industry developments,” said Alessio Quaglini, CEO of Hex Trust.