Fireblocks, a digital assets custody platform, announced the debut of their new Web3 Engine to encourage the development of the Web3 ecosystem as the world moves closer to a decentralized future.

The dedicated Web3 engine contains a set of tools for developers to create goods and services in decentralized finance (DeFi), GameFi, and non fungible currencies, the business revealed on Tuesday (NFTs). For alternative asset managers and capital market participants, Fireblocks has opened up a world of decentralized programmes (DApps), exchanges, NFT markets, and more.

“Web3 is the future,” Fireblocks CEO Michael Shaulov said, adding that “the Internet has already entered a new era.” According to Shaulov, in order for the Web3 ecosystem to continue to grow, the community must address a major issue: security.

Fireblocks’ new Web3 Engine, according to the announcement, makes it simple for developers to build DApps on top of Fireblocks’ tech stack or securely access the entire spectrum of current Web3 apps. Web3 companies such as Animoca, Stardust, MoonPay, Xternity Games, Griffin Gaming, Wirex, Celsius, and Utopian Labs use Fire Blocks to secure themselves from human mistake and hackers.

Web3 has sparked a lot of interest in the sector, as evidenced by the rise in market capitalization of Web3 coins in recent years. It’s an ecosystem that everyone can access from anywhere at any time, with no restrictions or middlemen. Many large corporations have made considerable investments in Web3’s potential.

Google Cloud has formed an internal team focused on developing services for blockchain developers and Web3-based application operators. Industry leaders such as Meta and Amazon have also entered the market with Metaverse involvement and NFT enthusiasm. Square Enix, the gaming behemoth, recently announced that it would spend heavily in Web3 gaming.