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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.
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.
STORY CONTINUES BELOW
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.”
Ian Allison
Ian Allison is a senior reporter at CoinDesk, focused on institutional and enterprise adoption of cryptocurrency and blockchain technology. Prior to that, he covered fintech for the International Business Times in London and Newsweek online. He won the State Street Data and Innovation journalist of the year award in 2017, and was runner up the following year. He also earned CoinDesk an honourable mention in the 2020 SABEW Best in Business awards. His November 2022 FTX scoop, which brought down the exchange and its boss Sam Bankman-Fried, won a Polk award, Loeb award and New York Press Club award. Ian graduated from the University of Edinburgh. He holds ETH.
