Fireblocks, a blockchain security provider, has introduced a new Web3 Engine to aid developers in building NFT, DeFi and GameFi products. The platform also allowed access to decentralized applications and exchanges as well as non-fungible token markets for alternative asset managers and capital market participants.
The New Fireblock Web3 Engine
A recent announcement by the platform stated that its new Web3 Engine will enable developers and companies to build infrastructure for dApps that involve NFTs and decentralized games (GameFi). Fireblocks is used by leading companies like Animoca and Stardust to offer maximum protection against cyber-attacks and human error.
The newly unveiled feature, which includes Web3 custody technology, provides connectivity across more than 35 DLT networks, including OpenSea and Uniswap. The Web3 Engine also allows for safe storage, transfer, yield, and management of treasury. The Web3 Engine offers advanced policy control and risk management.
Michael Shaulov, CEO of Fireblocks, stated that Web3 was “the future” and that society has “entered into a new era on the Internet.
“This community must solve a critical problem in order to ensure that the ecosystem continues to grow. We already offer a secure platform as well as a suite development tools that allow businesses to create digital assets and crypto-businesses. Unlocking Web3 was an important step.
The executive stated that the company now has a customized experience for connecting with Web3 and aims to accelerate the launch a new wave super apps.”
Kevin Lehtiniitty, Co-Founder of Fortress Blockchain Technologies, also commented on the subject. He said that Fireblock’s greatest quality is its ability to be used by developers as a building block, and then create new innovations.
He concluded that “without Fireblocks’ Blockchain Security and Key Management in the Background, we couldn’t call ourselves an Enterprise-Grade NFT platform.”
Fireblock’s Recent Progress
The cryptocurrency custodian secured a $550m Series E round of venture capital funding, increasing its value to $8 billion. The platform became the “highest-valued provider of digital assets in the world” thanks to the financing.
Shaulov said that some of the capital could be used to acquire other ventures. Fireblocks bought the Israeli crypto company “First Digital” for $100 millions a few weeks later.
The digital asset custodian joined forces with FIS, an American multinational Fortune 500 corporation, to offer crypto solutions for institutional clients.
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