XCAD Network, the platform enabling tokenization for YouTubers and allowing them to transform their vast audiences into web 3.0 communities, has collaborated with Fireblocks, an enterprise platform to manage digital asset operations and build innovative businesses on the blockchain, to address heightened security and compliance requirements following the blow ups of crypto firms last year.
“By leveraging Fireblocks’ innovative and secure technology, our partners and users will be able to retain tighter control over their digital assets,”stated Oliver Bell, Chief Executive Officer at XCAD Network. “Ideally, we will have user wallets migrated to Fireblocks similar to how apps like Revolut are set up,” he added.
Fireblocks’ non-custodial wallets utilise MPC-CMP, an MPC protocol introduced by Fireblocks in 2020. The MPC-CMP algorithm allows digital asset transactions to be signed up to 800% faster, and supports transaction signing from offline and cold wallets, with the company having secured the creation of over 130 million MPC wallets to date.
By integrating Fireblocks into the XCAD Network, the platform aims to improve its existing custody capabilities by bringing greater security and governance to its users, as well as opening doors to institutional investors. Specifically, the Fireblocks Network supports direct connectivity to over 1,800 liquidity partners, trading venues and counterparties,, resulting in better settlement efficiency, improved operational security, and fewer manual processes and errors.
“We are excited to work with XCAD as it embarks on its mission to redefine the NFT and creator tokens platform experience, as well as bridge the gap between YouTube content creators and their fans,” said Stephen Richardson, Managing Director, Financial Markets at Fireblocks. “Fireblocks’ non-custodial wallet service allows XCAD to protect their users’ digital assets at scale, eliminating a single point of private key compromise with our multi-layer security technology, as well as eliminating counterparty risk which has proven crucial in the adoption of digital assets.”
XCAD allows YouTube creators to generate dedicated economies around their fan-base, and offers new upstart creators a way to earn tokens and generate income long before they manage to successfully get picked up by YouTube’s algorithms.
The platform is backed by famous YouTubers such as KSI and Mr Beast, with others such as byViruZz creating and storing creator tokens by leveraging Fireblocks’ non-custodial wallet service. XCAD aims to foster increased user confidence in its existing products and the ones lined up for launch, such as wallet extension, a new creator token trading reward platform, a tokenized creator dashboard, and much more.