Global asset manager VanEck has recently made significant strides into the crypto industry by launching its spot Bitcoin Exchange Traded Fund (ETF) called “HODL.” Building on this success, VanEck has unveiled its latest venture, SegMint, a non-fungible token (NFT) marketplace and digital asset platform.
According to Wednesday’s announcement, SegMint aims to simplify the management of self-custodied assets by introducing the “Lock & Key Model” feature, which addresses shared ownership and access in today’s digital age.
‘Democratizing’ Digital Asset Management?
The asset manager said that with the increasing prevalence of self-custody in the digital asset space, the need for streamlined methods of sharing ownership and access has become apparent.
With this in mind, VanEck’s SegMint introduces the Lock & Key model, an “easy-to-use” solution that allows individuals to “securely” share their assets while maintaining control. Matt Bartlett, founder of SegMint, said of this feature:
We identified a significant pain point in the digital assets ecosystem—the challenge of sharing access and ownership in a self-custody world. The Lock & Key Model addresses this by offering a user-friendly solution that empowers individuals to securely share their assets while retaining control.
According to the announcement, SegMint’s Lock & Key model is a key step in “democratizing” digital asset management. Initially targeting crypto-native users, including NFT collectors and owners of tokenized assets, the platform aims to streamline the user experience and ensure inclusivity, regardless of technical expertise.
In addition, SegMint’s Lock & Key model is expected to open doors for partnerships with companies and organizations seeking asset-sharing solutions for their communities, whether it is NFT holders collaborating on creative projects or businesses sharing digital resources.
SegMint Platform By VanEck Targets Europe And Asia
As announced, SegMint offers several features to enhance the digital asset management experience. SegMint Safes, a custom multi-signature wallet solution, will reportedly provide increased user security.
In addition, the platform incorporates NFT’s minting capabilities with MINTangible’s IP protection toolkit, allowing creators to set terms of use for their collections, including personal or commercial rights. Notably, the asset manager said these features will be available to users free of charge.
Although access to VanEck’s SegMint platform may be limited based on the user’s country of residence, the platform is expected to generate interest primarily in Europe and Asia. Matt Bartlett expressed his excitement about the platform’s potential in these regions, indicating a strong commitment to expanding its global reach.
Overall, VanEck’s entry into the NFT market with SegMint represents a significant development in the digital asset ecosystem. The introduction of the Lock & Key model aims to simplify the process of sharing ownership and access, making it more accessible and secure for users while encouraging broader adoption of digital asset management across various industries.
As of the latest update, Bitcoin, the leading cryptocurrency in the market, has surged past the $60,000 milestone, edging closer to its current all-time high (ATH) of $69,000. It is trading at $61,300, reflecting a significant 24-hour increase of 8%.
Featured image from Shutterstock, chart from TradingView.com