The blockchain security service provider – Fireblocks – introduced a new Web3 Engine that will aid developers’ efforts to build NFT, DeFi, and GameFi products and services. 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
According to a recent announcement, the platform’s new Web3 Engine will allow developers and companies to create infrastructure for dApps involving NFTs and decentralized gaming (GameFi). Fireblocks is used by leading companies like Animoca and Stardust to offer maximum protection against cyber-attacks and human error.
The company revealed that the new feature features Web3 custody technology. It also provides connectivity across 35 DLT networks like OpenSea. Uniswap. Aave Arc and dYdX. The Web3 Engine allows safe storage, transfer and yield opportunities, as well as treasury management. The Web3 Engine offers advanced policy control and risk management.
Michael Shaulov – CEO of Fireblocks – opined that Web3 is “the future” and society has already “entered a new era of the Internet.”
“In order for this ecosystem to continue to grow, the community is tasked with solving a very critical problem: security. Access to Web3 is an important step after we have provided a secure platform for businesses to build crypto assets and businesses with a range of tools to develop them.
Now, with a fully tailored experience for connecting to Web3, we aim to accelerate the launch of a new wave of super apps,” the executive added.
Commenting on the matter was also Kevin Lehtiniitty – Co-Founder of Fortress Blockchain Technologies. He argued that Fireblock’s best quality is that developers can employ it as a building block and create innovations on top of it.
“Without Fireblocks’ blockchain security and key management in the background, we couldn’t call ourselves an enterprise-grade NFT platform,” he concluded.
Fireblock’s Recent Progress
The cryptocurrency custodian secured a $550m Series E round of venture capital funding, increasing its value to $8 billion. What’s more, the financing turned the platform into the “highest-valued digital asset provider in the world.”
Shaulov suggested that some capital might be given to other ventures. A few weeks later, Fireblocks purchased the Israeli crypto firm “First Digital” for $100 million.
Last month, the digital asset custodian teamed up with the American multinational Fortune 500 corporation – FIS to introduce crypto solutions for the latter’s institutional clients.