Following the growing prominence of art collectibles and NFT, Cobo is rolling out an NFT Custody product. The NaaS (NFT-as-a-Service) software will be a one-of-a-kind solution for storing tokens. The application will also support multi-role access, and its storage capacity will be flexible.
Users can link the NaaS application to online market platforms where they can send, receive, or buy NFTs. Institutions that use the API can maintain their interfaces and still access the functionalities of NaaS. The versatility of this product will be the turning point in the growing NFT industry.
NFT Is Booming
The NaaS (NFT-as-a-Service) software serves the booming NFT market. The QueenE #73 token dominated the market following the Her Majesty’s death. The coin is raising the profile of NFTs to global prominence. The minting marks an end to Queen Elizabeth’s NFT program that has lasted for a few months to celebrate her reign with art.
Institutions with a strategic goal of staying relevant to their users are delving into NFT. LG and Samsung have launched NFT trading apps on their smart TVs. The two applications allow users to trade on a trading interface as they browse the market listings. The Samsung app is available on Neo QLED, Micro LED, and Frame models. On the other hand, the LG Art Lab Art is only available for US clients once they upgrade their LG Operations System.
Supporting Seamless Functionality
There are different NFT protocols like the EVM-compatible and Ethereum chains. NaaS will be a one-stop solution for users of different NFT categories in a series of planned iterative upgrades. The flexible nature of API bolsters its adoption. According to Discus Fish, Co-Founder, and CEO of Cobo, the usability of NaaS is designed with the customer in mind.
NaaS users can also create multiple wallets for their preferences. The wallets can store a history of transactions for future reference.
Hence, NaaS will be the ideal platform for receiving airdrops, trading, NFT minting, shelving, pledges, Digital Assets management, and more.
Fish assures prospective users that the software operates on Cobo custody’s industry-leading security technologies. Two-factor authentication and foolproof digital vaults will protect tokens from loss.
NaaS Is Ideal for Institutional Use
The Custody products have unique institutional and individual use customization features. An institution administrator can assign operational rights to an auditor and operator on the platform. The chain of command can fit a structure where authorities cascade down the hierarchy.
Additionally, NaaS can be customized for different business needs through machine learning. Organizations can offer clients the services they want, such as designing NFT products for different market segments.
The Crypto market is bearish after Bitcoin plunged below $20,000 for the first time in weeks. Ethereum is also on a downward trajectory despite the upcoming merge.