Despite a year of ups and downs for crypto and NFTs, blockchain technology remains the next step in revolutionizing the digital space towards Web3.
One company that has taken pride in building and educating businesses and people on the Web3 space is Fireblocks, a blockchain service provider to scale up digital asset operations for various companies, ranging from banks to hedge funds.
Luke Middleton – Sales Director of the company – discussed the latest Payment Expert podcast about how Fireblocks is becoming one of the key firms in blockchain and digital asset integration, as well as talked about the potential NFTs.
Middleton highlighted that despite crypto having suffered significant damage to its reputation, Fireblocks’ job is to garner user confidence and open new possibilities.
“Essentially, what it really comes down to is Fireblocks being here to bring confidence and security back into the market so we can get return to a trajectory of mass adoption.”
Middleton added that security was highlighted as a core mission for Fireblocks, which was compounded by their recent partnership with Coincover, a digital asset protection firm that aims to build the best blockchain infrastructure to protect its customers better.
Currently, there is a ‘stigma’ surrounding blockchain, but knowledge and institutional protection are at the top of the list when it comes to discussing blockchain and Web3 adoption.
Middleton revealed that there is a huge knowledge gap around what is the underlying technology or what it does, as well as how we safely secure these assets.
Despite NFTs receiving bad feedback during their first iteration, Middleton states that there is a plethora of benefits under the surface of NFTs.
The Fireblocks team also closely follows brands such as Starbucks, Nike, Adidas, and others moving towards blockchain.
Football clubs such as Lazio are harnessing NFTs for matchday tickets and loyalty benefits, while Nike is using NFT technology to create virtual shoes to become interactive in a larger digital space.
Nike was also reported to have been the most dominant company when it came to NFT revenue last year, earning over $186m far ahead of the second-highest earners Dolce & Gabbana at $24m, according to Dune.
“NFTs are going to transform the world, they will be the underlying technology of essentially every vertical out there and a majority of business loyalty schemes, ticketing, and so forth. There’s so much value in what NFTs can provide.”
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