Fabriik uses the BSV blockchain to power new financial products and systems. Fabriik COO Steve Bailey attended the BSV Global Blockchain Convention to discuss what the company is up to.
Driving markets for BSV, NFTs and other digital assets
Bailey begins by explaining that Fabriik’s aim is to offer as much value as possible to anyone who wants to participate in the “decentralized economy”. They want everyone around the world to reinvent wealth in the digital economy.
What does that look like in reality? Fabriik started realizing his vision last year. Its retail business launched Fabriik Wallet, Fiat On- and Off-Ramps, and the FabriikX NFT marketplace, while its institutional business (Round Rock) launched an OTC trading desk, trading API, and market-making service.
Briefly approaching Round Rocks’ products, Bailey expands the offering of the company’s institutional arm.
- One Trading Desk – Offers digital asset trading with competitive fees, full transparency and zero slippage.
- A Trading API – Enables a programmatic way to trade, buy, and sell digital assets.
- Market-Making Services – Provides 24/7 access to large pools of liquidity.
Focus on factory
Bailey then turns his attention back to Fabriik, the retail-facing side of the company.
First he tells us about Fabric Weave, a digital currency exchange tool that simplifies and speeds up switching between assets. Fabriik Weave enables trading partner integration with customized user interfaces, offers revenue sharing opportunities and supports seven digital currencies; BSV, BTC, ETH, LTC, AXS, USDC (ERC20) and XLM. To provide an example of trading partner integration, Bailey explains how FYX Gaming integrated Weave with CryptoFights, allowing players to seamlessly trade tokens without leaving the game.
Next, Bailey introduces that Fabric purse. Launched in April 2022, it supports multiple digital currencies. It is a mobile-first self-custody wallet that allows users to buy, exchange and store supported digital currencies. It was built on top of Bread Wallet’s open-source code, allowing users to easily restore previous Bread wallets.
The future of factories
Bailey shifts gears and tells us what’s in store for Fabriik in the near future.
- Buy BSV – In the summer of 2022, users will be able to buy BSV directly from the Fabrik wallet.
- Tier 1 Payment Processing – Fabriik will work with a Tier 1 payment processor and create new fiat ingress and egress.
- New Tokens – Bailey says Fabriik will continue to add support for other tokens. He stresses that the company is open to hearing what tokens users would like to see next in the app.
Next-gen NFTs on Fabrik
Reverting to existing products, Bailey brings this to our attention FactoryX, the company’s NFT platform. He explains how, because it runs on BSV, new NFTs are minted and stored on the blockchain with incredibly low fees. Users can now buy and sell minted NFTs on FabriikX.
Finally, Bailey tells us about a new NFT collection on the FabriikX platform, recently launched by British artist and comedian Steve Best. This collection focuses on comedians, including exclusive art photos that Best has had the opportunity to take of comedians over the years.
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