Fireblocks Deploys ‘Web3 Engine’ for Firms Eyeing GameFi, NFTs

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).

The appetite for decentralized web services seems to be growing among institutions with the likes of Japanese bank Nomura reported being 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 in partnership with Aave Arc, said Fireblocks CEO Michael Shaulov. Web3 Engine targets a larger community of developers, he stated.

“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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