VanEck Starts Digital Asset Management Platform and NFT Marketplace

• VanEck has started a digital asset management platform and NFT marketplace called SegMint.
• The platform uses a model called "Lock & Key," which allows users to share access and ownership of an asset with others in a safe way.

Global asset manager VanEck has rolled out a digital asset management platform and NFT marketplace with the goal of making it easier to share ownership and access of self-custodied assets.

Called SegMint, the platform uses a model called "Lock & Key," which allows users to share access and ownership of an asset with others in a safe way while keeping control of it, the company said in a press release on Wednesday.

“We identified a significant pain point in the digital assets ecosystem—the challenge of sharing access and ownership in a self-custody world,” said Matt Bartlett, founder of SegMint in the statement.

The idea behind the "Lock & Key" model is for a user to be able to issue keys to a secure vault. "Imagine having a secure vault where you can store your digital assets, and then effortlessly issue keys to others, granting them shared ownership without compromising security," the company explained.

Initially, the platform will be targeted towards crypto-native users who are familiar with the use of blockchains, VanEck said, but its ultimate goal is to make it user-friendly enough for everyone to be able to use it.

Bartlett expects most interest for the platform to come from Europe and Asia, as access will be limited to some countries.

VanEck has long been a big TradFi participant in crypto. In May 2022, the almost 70-year-old firm launched its first collection of NFTs. Earlier this year, it became one of the ten issuers of a spot bitcoin exchange-traded fund (ETF), which has since seen huge demand from investors.