CYBAVO’s Support for ERC 721 and ERC 1155 Provide Full Protection For Your NFT Digital Assets

Posted on Jan 12, 2022 | BLOG


Ever since the $69-million sale of digital artist Beeple’s “Everydays: The First 5000 Days” in early 2021, non-fungible tokens, or NFTs, have captured the public’s attention. Just in Q3 of 2021, the sales volume of NFTs has surged to USD $10.7 billion, with analysts forecasting even higher numbers for the subsequent quarters. With the increased number of transactions and high-value NFTs continuously entering the market, it’s more important than ever –especially at the institutional level– to implement a protection mechanism to safeguard these valuable assets.

CYBAVO has always been focused on providing the most secure, agile, and efficient solution for its customers. For those who want to take part in the NFT revolution, that is exactly what CYBAVO offers: a safe, well-rounded, convenient tool to complete their NFT platform.

Supporting both ERC 721 and ERC 1155, the solution already stands out from the crowd by accepting both NFT Standards currently used by the majority of NFT transactions. Users can use their CYBAVO VAULT wallet to deploy NFT smart contracts, and receive and interact with the smart contract to perform actions like minting, burning, storing, or sending NFTs directly from the wallet interface. Furthermore, these interactions all take place according to the threshold approval process set up for the wallet, ensuring strict adherence to corporate workflows.

CYBAVO’s deposit and withdrawal wallets will also support NFT capabilities, including both ERC 721 and ERC 1155 standards. Additionally, as CYBAVO VAULT fully supports WalletConnect, users can easily connect to NFT marketplaces like OpenSea or other decentralized platforms to sell their NFTs.

The solution currently supports all the main blockchains and layer 2 protocols, including: ETH, BSC, HECO, MATIC (Polygon), FTM, CELO, PALM, AVAX-C, ARB, OP, XDAI, OKT, TT, and ONE, with plans to include support for more blockchains in the near future.

To learn more about CYBAVO’s NFT support and upcoming features, don’t hesitate to reach out to your CYBAVO sales representative or contact us here!