NFTBank, an NFT portfolio management platform, has just released an improved version of its service, NFTBank V2.
The platform has built a reputation for its accuracy in NFT valuation and profit and loss reporting. The release of NFTBank V2 aims to expand on this foundation by providing additional capabilities that enable monitoring of NFT purchases via various techniques, including minting, bulk buying, and transactions across main and secondary markets. These updates are important in a market where openness and accuracy in asset value are essential for investor trust and regulatory compliance.
NFTBank V2 can connect to up to 3,000 wallets, so owners can see all of their NFT assets from all their wallets simultaneously. Assets are spread across many digital wallets, making it hard to keep track of the whole portfolio and its performance. This feature fixes a problem that comes up a lot in the NFT market.
The platform’s full cost-basis calculation, which includes internal trades, makes it a useful tax tool. This shows that the digital asset market needs more financial management options. NFTBank also secured $12 million through a 2022 funding round, which included Hashed, DCG, Sequoia Capital, Sfermion, and Dapper Labs. This shows that key players are interested in building out applications for digital asset management.
The new update also lets users handle their wallets as a group, making it easier to monitor success based on specific investment plans or wallet types. This level of flexibility and control shows that NFT investors are learning more and want more advanced management tools to handle various investment strategies.
Besides the new features and changes it brings to NFT portfolio management, the release of NFTBank V2 also brings additional perspectives. It shows that the environment for digital assets is maturing and that handling different types of digital assets, like NFTs, requires more advanced and specialized tools.
People are becoming more aware that NFTs can be used as real investments, not just as digital trinkets or game assets. Building these tools shows that the NFT space is becoming more like standard finance and investment management, where it increasingly interacts with them.
Additionally, the update reflects the growing importance of blockchain interoperability and the need for platforms that can easily work with different blockchain ecosystems. This is clear from the fact that Ethereum and Ronin were chosen as the first blockchain networks that NFTBank V2 will support.
Ethereum’s importance in the NFT market and Ronin’s centrality to the P2E gaming environment, as shown by its involvement with popular games, show that NFTBank is committed to these areas as they grow.
Daniel Minsu Kim, CEO of NFTBank, emphasized the platform’s goal of improving the management experience for NFT traders and investors, especially those involved in the web3 gaming industry. “We are thrilled to unveil NFTBank V2, a testament to our commitment to providing an unparalleled NFT portfolio management experience,” said Kim.
Kim continued, saying, “Our platform is designed to empower NFT traders and investors, especially those in the web3 gaming space, to manage their assets more effectively and profitably.”
The platform’s support for Web3 gaming ecosystems and capacity to function as a full management tool demonstrate the potential for NFTs and P2E games to contribute to the larger digital economy.
NFTs are widely recognized for their role in digital ownership and monetization of digital platforms. At the same time, P2E games are a rising segment of the gaming industry, allowing players to make money while playing.
Because web3 games and groups are so popular, systems like NFTBank V2 will likely play a big part in keeping the economies of these games in check.
The launch of NFTBank V2 reflects broader trends in adopting digital assets and the shifting digital economy landscape. With its enhanced capabilities and strategic concentration on the P2E sector, NFTBank V2 is well-positioned to fulfill the needs of a sophisticated investor base while also contributing to the sustained growth and legitimacy of the NFT and web3 gaming industries.