Veteran investment manager VanEck made waves this week with the launch of SegMint – a new digital asset management platform and NFT marketplace seeking to revolutionize asset sharing in a Web3 context by improving accessibility and security.
TLDR
- VanEck launched a new NFT platform and marketplace called SegMint to simplify sharing and access of self-custodied digital assets
- SegMint uses a “Lock & Key” model that allows users to easily issue digital keys granting shared access/ownership without compromising security
- Initial target users are crypto-natives in Europe and Asia familiar with blockchain concepts, but aims to expand to mainstream users
- Will enable fractionalized ownership of NFTs like Bored Apes and tokens backing real assets like watches and wine by end of March
- Part of VanEck’s wider efforts in digital asset management including being a top issuer of spot Bitcoin ETFs in the US
Arising from VanEck’s inhouse digital assets research division, SegMint introduces a versatile “Lock & Key” model to simplify self-custody and fractionalized ownership for NFT collectors and crypto native users initially. Users can securely store assets in personal vaults on SegMint, then grant access or ownership rights to others via unique digital keys. This provides user-friendly shared access akin to handing someone the keys to a safety deposit box, without compromising security or control.
According to SegMint founder Matt Bartlett:
“We identified a significant pain point in sharing access and ownership in a self-custody world. The Lock & Key Model addresses this by offering a straightforward solution that lets individuals securely share their assets while retaining control.”
The platform launches after an extended development process marrying VanEck’s asset management expertise with specialized tech partners like NuevaTech, Delegate, MINTangible & Walletchat. While catering firstly for intermediate crypto users in Europe & Asia, SegMint ultimately aims to present a simple & inviting user experience for collecting, owning and fractionally sharing NFTs.
Initial utilities will enable collective ownership of bluechip NFTs like Bored Apes among groups of collectors, while later features will support fractionalized ownership of tokened assets – starting with luxury watches and fine wines. SegMint will expand support to assets classes like fractional real estate over time, as part of VanEck’s broader tokenization efforts spanning digital and real world assets.
For crypto native users already comfortable with managing wallet keys and basic blockchain concepts, SegMint offers a compelling way to cooperatively own emerging digital assets while retaining individual custody. It also lowers barriers for curious newcomers to engage with fractional ownership of exciting assets like prestigious NFT collections and tokenized luxury goods.
As a regulated financial services stalwart with nearly $90B assets under management, VanEck lends institutional credibility to the fractional ownership concept – helping propel NFT and tokenization models towards mainstream credibility.
After pioneering early exchange traded funds (ETFs) for gold in 1968 then emerging markets in 1993, VanEck is again leveraging its pedigree to drive adoption of dynamic new digital asset classes.
This month alone, VanEck also became one of the first issuers approved to launch a spot Bitcoin ETF in the US – underscoring its commitment to crypto.
By removing complexity from shared digital asset custody, SegMint helps fulfill VanEck’s vision of a more inclusive and user-friendly NFT ecosystem. For crypto developers, the approach could also inspire simplified design patterns around self-hosted wallets and community owned assets.
With major brands like Nike, McDonald’s, Gucci and others now embracing NFTs in 2024, SegMint arrives at an opportune moment to ease access and shared participation for both individuals and organizations.
As Bartlett summarizes, “Simplicity lays the groundwork for broader adoption across various industries.”
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