VanEck Launches NFT and Digital Assets Market SegMint

CryptoNews.com

2024-02-28 19:06:34

Tanzeel Akhtar | Verified by Tanzeel Akhtar

Last updated:

February 28, 2024 22:06 EST | 1 min read

Source: MidjourneyInvestment firm VanEck has launched a new non-fungible token (NFT) and digital assets market dubbed SegMint following the successful listing of its spot Bitcoin exchange-traded fund (ETF) in the U.S.

In an announcement, VanEck said, the idea for SegMint came out of VanEck’s digital assets research and the platform built around its “Lock and Key Model.” SegMint’s technology partners include Nueva.Tech, Delegate.xyz, MINTangible.io, Portals.to and Walletchat.fun.

What is SegMint’s Lock and Key Model?

VanEck explains that SegMint’s Lock & Key Model simplifies the process of managing self-custodied assets by introducing a straightforward solution for sharing access and ownership. Access to the new platform will be limited with interest expected from Europe and Asia. Users of SegMint will receive an “Adventurer NFT” with a verified profile and completed Know Your Customer (KYC).

“We identified a significant pain point in the digital assets eco—the challenge of sharing access and ownership in a self-custody world,” explains Matt Bartlett, founder of SegMint in a press release, “The Lock and Key Model addresses this by offering a user-friendly solution that empowers individuals to securely share their assets while retaining control,” adds Bartlett.

NFT Volumes See Uptick in Crypto Bull Market

On Monday, NFT sales volume was up 2.35% to $52,286,636 in 24 hours. Bitcoin has surpassed Ethereum per NFT sales volume. As is well-known, Ethereum tends to rule the list, typically sitting in the first spot for weeks on end, reports Sead Fadilpašić from CryptoNews Over the past week, Ethereum has recorded a sales volume of $136.7 million, while Bitcoin has seen $97.8 million.

VanEck Slashes Bitcoin ETF Fees Down to 0.20%

In January, VanEck listed its spot Bitcoin ETF in the U.S. trading under the ticker symbol “HODL” – the investment firm slashed its fees for the VanEck Bitcoin Trust down to 0.20% from 0.25% as competition in the market heated up. Nearly a dozen Bitcoin ETFs are competing for investor attention in a saturated market.

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