CYBAVO

Secure NFT Trading

About

In the rapidly growing NFT space, CYBAVO, a leading blockchain and digital asset security company based in Singapore, aimed to incorporate NFT capabilities into their services. Utilizing the foundation of our OpenNFT marketplace, we tailored a solution that met CYBAVO's high standards for security and usability, launching a bespoke Ethereum NFT marketplace with integrated custody solutions.

Industry

Fintech & crypto

Project duration

November 2021 – January 2022

Project scope

Backend development

Frontend development

Blockchain development

DevOps

Technology

Python, Google Cloud, Kubernetes, Terraform, Docker, Vue, Node.js

Background

CYBAVO VAULT, CYBAVO's flagship product, manages more than 1000 cryptocurrencies and tokens with a transaction volume exceeding $35 billion. ULAM LABS collaborated with the company to introduce NFTs into CYBAVO VAULT. To achieve this, we integrated the core product with a custom NFT Marketplace.

Challenge

The challenge was to develop an NFT Marketplace aligned with CYBAVO's stringent security and usability criteria. Amidst the NFT market's explosion, the platform needed to enable CYBAVO’s clients to launch their NFT collections swiftly. Significant modifications to the OpenNFT platform included integrating CYBAVO's authentication software, transitioning the blockchain base from Algorand to Ethereum, and adopting the ERC-721 standard for NFTs.

Results of the collaboration

The NFT Marketplace enhancement to CYBAVO VAULT offers institutions a secure environment for minting and managing NFT collections. Built on the OpenNFT framework with customizations for Ethereum and ERC-721 standards, it provides a comprehensive suite of marketplace functionalities including minting, primary market trades, and thematic collections for NFT organization.

Impact

Key features

NFT Marketplace Essentials

Supports Ethereum-based ERC-721 NFTs, facilitating trades in ETH or USDT.

NFT Collections

Allows platform owners to categorize NFTs into collections for thematic organization, benefiting larger projects and brands.

KYC Verification

Implements basic and advanced KYC processes to safeguard against fraud, requiring all users to undergo KYC for trading activities.

CYBAVO VAULT Integration

Enables secure deposit of ETH and USDT for NFT purchases, with the option for users to withdraw assets to any Ethereum wallet address.

Secure Login

Offers a secure and convenient login via CYBAVO accounts with mandatory 2-factor authentication, eliminating the need for a separate wallet.

Trade and Transaction History

Provides users with a transparent view of all marketplace activities and NFT performances.

Integrated Solutions

Features integrations with Persona for KYC, CYBAVO Vault for NFT storage, and CYBAVO AuthSec for 2FA login.

Consult on Your Web3 Project for Free

Receive expert advice on your blockchain project. Complete the form to schedule a 30-minute consultation with one of our Web3 developers.

Book Free Consultation

Email is required
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Get consultation
We'll use the data provided to serve your inquiry.
Something went wrong. Try again later.

Thank you! We will contact you soon to settle the next steps