Veteran investment manager VanEck made waves this week with the launch of SegMint SegMint is an innovative platform and marketplace for managing digital assets and NFTs, pushing the boundaries of asset sharing in Web3 by enhancing both accessibility and security.
TLDR
- VanEck unveils the SegMint platform and marketplace, aiming to streamline the process of accessing and sharing digital assets under self-custody.
- Through SegMint’s 'Lock & Key' model, users can issue digital keys, enabling shared access and ownership without compromising security measures.
- The initial focus is on crypto enthusiasts in Europe and Asia who are well-versed in blockchain, but plans are in motion to cater to mainstream audiences.
- By the end of March, SegMint is set to introduce fractionalized ownership for NFTs like Bored Apes and tokens that represent real-world assets such as luxury watches and wines.
- SegMint is part of VanEck’s broader digital asset management strategy, adding to their reputation as a leading issuer of Bitcoin ETFs in the US.
Developed from VanEck's digital assets research team, SegMint uses a versatile 'Lock & Key' model to streamline self-custody and fractionalized ownership, starting with NFT collectors and crypto natives. It allows secure asset storage in users' private vaults, and access or ownership is granted through unique digital keys, akin to handing over a safety deposit box key, without sacrificing security.
Matt Bartlett, founder of SegMint, remarked:
“We noticed a crucial issue in sharing asset access and ownership in a self-custody world. The Lock & Key Model offers a simple resolution, letting individuals share their assets securely and maintain control.”
After extensive development combining VanEck’s asset management acumen with tech partners like NuevaTech, Delegate, MINTangible, and Walletchat, SegMint emerges to offer intermediate crypto users in Europe & Asia a user-friendly platform for acquiring, owning, and sharing NFTs fractionally.
With initial functionalities allowing collective ownership of top-tier NFTs like Bored Apes among collectors, later expansions will facilitate fractional ownership of tokenized luxury items like watches and wines. SegMint plans to eventually include asset classes such as fractional real estate, as part of VanEck's broader asset tokenization projects.
SegMint offers an intriguing option for crypto users comfortable with wallet management and blockchain basics to co-own digital assets while keeping personal custody, also lowering engagement barriers for newcomers interested in fractional ownership of exciting assets like esteemed NFT collections and luxury goods.
VanEck, a stalwart in regulated financial services managing nearly $90 billion, adds institutional weight to the concept of fractional ownership, advancing NFTs and tokenization towards wider acceptance.
Having pioneered early gold ETFs in 1968 and emerging markets in 1993, VanEck is once again leveraging its expertise to foster adoption of new digital assets.
This month alone, VanEck was among the first to receive approval for launching a spot Bitcoin ETF in the US, underlining its dedication to cryptocurrency.
By simplifying shared digital asset custody, SegMint aligns with VanEck’s vision of a more accessible and user-friendly NFT ecosystem, potentially inspiring simplified design approaches for self-hosted wallets and community-owned assets among crypto developers.
With major names like Nike, McDonald’s, and Gucci entering the NFT space by 2024, SegMint arrives just in time to streamline and promote shared participation for both individuals and companies.
As Bartlett puts it, 'Simplicity is key to encouraging broader adoption across industries.'
