Cryptocurrency custodian Fireblocks has launched its "Web3 Engine," a software developer kit (SDK) that allows companies to create infrastructure for applications that include non-fungible tokens (NFTs) and decentralized games (GameFi).
The appetite for decentralized web services appears to be growing among institutions such as Japanese bank Nomura, which reportedly plans to create a subsidiary that will handle decentralized finance (DeFi) and NFTs for customers.
Banks and institutions looking to get into DeFi is something Fireblocks has been working on for some time, including in collaboration with Aave Arc, Fireblocks CEO Michael Shaulov said. Web3 Engine is aimed at a broader community of developers, he said.
"I think the most obvious customers, besides the financial institutions that are already working with DeFi, are developers in gaming, social media and entertainment," Shaulov said in an interview. "First, it's an SDK for securely managing NFTs at scale, and second, the ability to connect to a broad ecosystem of marketplaces, exchanges and other bridges."