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5. Store and access NFTs securely and easily Similar to cryptocurrencies, NFTs are stored in a crypto wallet – the digital equivalent to an address. There are several crypto wallets available, including wallets from top exchanges that manage assets on the consumer’s behalf to wallets that give consumers direct control over their assets. To maximize the addressable market, it is important to be able to integrate with many of these wallets, so that NFTs can be delivered to a maximum number of digital addresses. There are two primary models for wallets – ‘custodial’ or ‘non-custodial’. Consumers that interact with crypto often prefer the ‘non-custodial’ model, as it gives them full control over their assets. As an example, platforms like SuperRare10 and OpenSea11 integrate non-custodial wallets, which means the consumer is responsible for securely storing the private key that allows them to access and to trade their NFTs. Each of these platforms has connectivity to specific third-party crypto wallets that provide encryption and security to users. By contrast, including a custodial solution can help provide a broader audience easy access to a business’s platform. If using custodial solutions, it is important that the solution is from a trusted brand with strong security, as it will be responsible for safekeeping the NFTs on behalf of the consumer. All brand names and logos are the property of their respective owners, are used for identification purposes only, and do not imply product endorsement or affiliation with Visa. 10PDF Image | NFT Engaging Today’s Fans in Crypto and Commerce
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