A digital assets custody platform Fireblocks has launched a new Web3 Engine for the development of the Web3 ecosystem. It comes with a set of tools for developers to create products and services in decentralized finance (DeFi), GameFi, and NFT space. Fireblocks also offers decentralized apps(DApps), NFT marketplaces, and exchanges, and has alternatives for asset managers and capital market participants.
Michael Shaulov, the CEO of Fireblocks, believes Web3 is the future. He said the company has already entered a new era of the internet. Shaulov highlighted that the community must address the issue of security for the Web3 ecosystem to continue to develop. Fireblock’s new Web3 Engine empowers developers to construct DApps on top of Fireblock’s tech stack. It helps them securely access the full breadth of existing Web3 applications. Moreover, the platform enables Web3 firms like Stardust, Animoca, MoonPay, Griffin Gaming, Xternity Games, and Wirex among others to protect against human error and hackers.
Web3 has garnered enthusiasm in the industry, evident in Web3 tokens’ growth in market capitalization in recent years. Web3 ecosystem is open to everyone free of restrictions or intermediaries. And a number of big companies are venturing into this space to capitalize on Web3’s potential. Recently, Google cloud established an internal team to create services for blockchain developers and those operating Web3-based applications. Amazon and Meta (formerly Facebook) have stepped into this market as well vying for Metaverse and NFT. Square Enix, a gaming giant, has also shown enthusiasm to invest in Web3 gaming.