Fireblocks’ New Web3 Engine and Enterprise Tools to Aid NFT, DeFi Developments

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. Additionally, the platform enabled access to exchanges, decentralized applications, and non-fungible token marketplaces for capital market participants and alternative asset managers.

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 allows leading entities like Animoca, MoonPay, Stardust, Xternity Games, and Celsius to provide maximum protection against human error and cyber-attacks.

The organization revealed that the newly-unveiled feature includes Web3 custody technology and provides connectivity across over 35 DLT networks such as OpenSea, Uniswap, Aave Arc, and dYdX. In addition, the Web3 Engine allows treasury management for safe storage, transfer, and yield opportunities. Advanced policy control and risk management are also among the advantages.

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. As we already provide a secure platform and a suite of development tools for businesses to build digital assets and crypto businesses, unlocking access to Web3 was an important next step.

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

At the beginning of 2022, the cryptocurrency custodian closed a $550 million Series E venture capital round, boosting its valuation to $8 billion. What’s more, the financing turned the platform into the “highest-valued digital asset provider in the world.”

Back then, Shaulov stated that some of the capital might be distributed into possible acquisitions of 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.