VanEck Launches NFT and Digital Assets Market SegMint

Journalist

Tanzeel Akhtar

Journalist

Tanzeel Akhtar

About Author

Tanzeel Akhtar has been covering the cryptocurrency and blockchain sector since 2015. She has written for the Wall Street Journal, Bloomberg, CoinDesk, Bitcoin Magazine and Bitcoin.com.

Author Profile

Share

Copied

Fact Checked by

Tanzeel Akhtar

Journalist

Tanzeel Akhtar

About Author

Tanzeel Akhtar has been covering the cryptocurrency and blockchain sector since 2015. She has written for the Wall Street Journal, Bloomberg, CoinDesk, Bitcoin Magazine and Bitcoin.com.

Author Profile

Last updated:

February 28, 2024 22:06 EST

Why Trust Cryptonews

Cryptonews has covered the cryptocurrency industry topics since 2017, aiming to provide informative insights to our readers. Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards, focusing on factual accuracy and balanced reporting across all areas - from cryptocurrencies and blockchain projects to industry events, products, and technological developments. Our ongoing presence in the industry reflects our commitment to delivering relevant information in the evolving world of digital assets. Read more about Cryptonews

Investment 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 ecosystem—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.