Cobo Launches New Custody Product to Manage All Your NFTs in One Platform by DailyCoin

© Reuters. Cobo launches a new custodial product to manage all your NFTs on one platform

Cobo launches new software, NaaS (NFT-as-a-Service), that enables users and institutions to benefit from safe yet efficient storage and custody of NFT assets, multi-role access and the ability to connect to marketplaces for NFT trading.

The boom of NFT
Since the summer of 2021 NFTs, NFTs have become one of the main asset allocation categories among institutions such as marketplaces and web3 funds that invest in blue-chip NFTs or DAOs. Today, an increase in major brands and companies such as Nike (NYSE:), TIME Magazine, Adidas (OTC:) and Prada (OTC:) are getting into NFTs, and collectors and institutions are increasing their collection of NFTs from all the different blockchain platforms. To securely store and manage all these NFT assets on different wallets, NFT holders need a secure and flexible custody solution.

Cobo NaaS now supports NFT custody, meeting our users’ needs for a one-stop custody solution supporting a variety of digital assets. The platform currently supports the channel and some whitelisted NFTs on EVM-enabled channels such as art, design, and collectibles, and is rapidly expanding support for other NFT channels and categories.

Seamless platform integration
Institutions can connect to MetaMask Institutional through Cobo’s web interface, or easily use the Cobo Custody NFT API to interact with the underlying NFT contracts to achieve full NaaS functionality while retaining their front-end interface. It is currently the only platform on the market that allows an institution to set access controls among users and write granular risk control policies to improve overall workflow efficiency.

“It just makes sense to have an all-in-one custody and management platform for all your NFT assets. Our goal is to make Cobo NaaS the only wallet users will need to manage all their transactions. NFT with a focus on platform usability and flexibility of controls,” said Discus Fish, co-founder and CEO of Cobo.

Users will be able to create and connect multiple wallets in seconds, check traceable transaction data where all relevant transactions and NFT price history, and seamlessly participate in minting, shelving, trading and upon receipt of NFTs, asset transfers, pledges, full NFT management services, etc.

On top of that, Cobo NaaS is also backed by the total security of Cobo’s industry-leading security technologies.

Multi-role access for multi-collaboration
Having a platform where everyone has full access to all assets can lead to inefficiencies and potential points of failure. Cases of embezzlement, money laundering, embezzlement, etc. often arise when a single entity controls all assets.

To minimize the likelihood of professional risks, creators using the Cobo NaaS platform will be able to delegate auditor and operator roles to their users. Operators will be able to perform transactions while auditors approve those same transactions. By requiring one or more auditors to approve transactions, it creates a multi-signature security system to deter any single point of failure.

Flexible strategy for better risk control
A protocol’s usability and flexibility are increasingly important as new technologies make their way into platforms. Protocols must be able to adapt and meet the needs of their users, allowing their products or services to be fully utilized.

Cobo NaaS allows creators to set up whitelists of contract addresses and their user interaction rules. This limits users to being able to interact only with contract addresses on their whitelist and will require consent from one or more auditors if they intend to interact with contract addresses outside of their whitelist. From there, creators will be able to define review rules for each transaction, such as creating a whitelist of wallets or contract addresses that traders can interact with, or adjusting USD thresholds for trading limits.

Moreover, users can also use advanced filtering to sort transactions by NFT, wallets, coins, operators, date range, etc., allowing you to easily locate any transaction and generate detailed reports in a click.

The Future of NFT Guard
Apart from the increase in the number of big brands getting into NFTs, the employment landscape is changing due to the increase in adoption of blockchain technology and digital transformation. There is already a growth in the number of people working in the crypto sector. To adapt to the influx of new teams and new workers, protocols need an appropriate on-call management system.

“Custody of digital assets is the gateway to institutional adoption of crypto. However, it is still in its infancy. Many underlying blockchain technologies are still evolving rapidly, and the products and services required for a digital asset custodian are also evolving very rapidly. Breakthroughs in these innovations would play an important role in the mass adoption of digital assets by institutions,” said Changhao Jiang, co-founder and CTO of Cobo.

Having a secure and smooth workflow in a protocol encourages greater efficiency in a protocol. With asset security, comprehensive functionality, and the ability to customize front-end interfaces, Cobo NaaS users can enjoy safe yet efficient storage and custody of NFT assets, multi-role access, and the ability to connect to marketplaces for NFT trading.

About Cobo
Cobo is Asia’s largest digital asset custodian and blockchain technology provider, based in Singapore. Trusted by over 300 institutions and HNWIs for growing and protecting their crypto assets, the company is focused on building scalable infrastructure and propelling the Web 3.0 revolution around the world. Its proprietary DeFi asset management services have passed the 1.5 billion AUM mark and achieved a unique risk-reward profile that rivals top hedge funds – without overexposure to headwinds. As a strong blockchain and DeFi infrastructure builder, Cobo provides WaaS (wallet), Daas (DeFi), NaaS (NFT Minting), and StaaS (Staking) software-as-a-service products. Among other projects, Cobo’s incubator arm also enriches the DeFi ecosystem through its investments in innovative and promising early-stage DeFi projects. Its respected security team is also regularly featured in crypto communities for its contribution to protecting the crypto ecosystem and fixing vulnerabilities in protocols.

To learn more about Cobo NaaS, contact [email protected]

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James T. Quintero