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Despite the decline in interest in NFTs, which have lost 98% of trading volume this year, leading crypto companies continue to take steps to expand this sector. In particular, the Metamask wallet decided to open the possibility of storing unique tokens to institutional clients.
The new service will become available to clients of MetaMask Institutional, a special application that guarantees compliance with all regulatory requirements, a necessary condition for corporations to work with cryptocurrencies.
Companies will be able to store and transact with unique assets in Cobo NFT management, created in partnership with startup Cobo. Developers offer institutional a new experience with NFTs, using a multi-signature system for multi-level administration of transactions and circulation of issued unique tokens.
On the one hand, Cobo NFT management thus violates the MetaMask decentralization principles, but on the other hand, the company determines the policy for managing issued NFTs, fulfilling all legal restrictions for customers from different countries.
Coinbase plans to attract customers to its own NFT marketplace by implementing the ChainLink oracle network. The company, together with the provider Coinbase Cloud, will develop an API for creating the Feed Oracle service.
Coinbase users will receive real-time NFT floor prices. This should attract developers interested in creating DeFi applications and lending markets related to staking or collateral in NFT tokens to the marketplace.
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