[Press Release] Beyond and Sibilla jointly start providing one-stop solution for NFT introduction support

Beyond Inc. and Sybilla Inc. will jointly provide a one-stop solution for supporting services that utilize NFTs, from interviews and requirements definition to development, operation, and maintenance

Background of the business partnership

In December 2017, an NFT (non-transferable currency) in-game item from the blockchain game CryptoKitties was sold for $110,707 (approximately 12 million yen at the time), creating a lot of buzz. The latest report by blockchain data company Chainalysis announced that the total value of NFT transactions in 2021 will be $40.9 billion (approximately 4.71 trillion yen)

In 2021, NFTs began to be used in a wide range of fields in Japan, including manga, anime, games, entertainment, and sports, and NFT marketplaces were announced one after another by LINE, GMO, and Rakuten, forming an NFT market. It is expected that the use of NFTs will become even more active in 2022

The role of Sibylla

On the other hand, NFTs also have their challenges. There are two types of NFTs: public chain NFTs and private chain NFTs. The former are the ones that are attracting attention around the world, but currently public chain NFTs have usability issues, so private chains are often chosen in Japan

However, many of the things happening in the world of public chains today cannot happen on private chains. The products provided by Sybilla will solve the issues surrounding NFTs on public chains and lead Japanese NFTs to become a global standard

Beyond's Role

Beyond leverages its experience in building and operating large-scale infrastructure in the gaming industry to design and build off-chain systems that take into account both off-chain (outside the blockchain) and on-chain (within the blockchain). Applications that utilize NFTs cannot be completed with smart contracts alone, but require off-chain APIs and UIs

Beyond's technological capabilities will not only help with the NFTization of digital art, but also reduce the burden of off-chain development and operation that arises as various NFT applications (such as blockchain games) increase

<What is a contract wallet?>

A general term for wallets whose core functions are implemented using smart contracts. They have features that are only possible with smart contracts, such as permission management using multiple keys, social recovery to deal with lost keys, and meta-transactions (executing transactions and paying fees on behalf of others) that enable support for users who do not own crypto assets

What is unWallet?

Sybilla provides a wallet service that is self-sovereign, allowing users with no knowledge of NFTs or blockchain to manage NFTs with the same UX as a typical web application. It consists of a contract wallet developed by Sybilla that implements core functions, and a web-based UI

What is unWallet Enterprise?

Sybilla provides SaaS (Software as a Service) that provides APIs (Application Programming Interfaces) and SDKs (Software Development Kits) necessary for companies and developers without specialized knowledge of NFTs to develop applications that utilize NFTs

Features of NFT introduction support services

1. One-stop solution

We provide thorough support, starting with a consultation from the stage when you first want to consider NFT, through requirements definition, basic design, development, and maintenance and operation after the service is released. We will provide you with an NFT application that meets your desired service specifications and budget

2. Building a service that solves issues related to NFTs

[Usability]

・UnWallet is a web application that requires no download or installation
, so end users do not need to download a browser extension or native app. Of course, it can be accessed from both smartphones and PCs.

・NFT service development possible without specialized knowledge
Integrating your application with unWallet can be done in the same way as familiar social logins. Neither end users nor application developers require advanced blockchain expertise.

- A function to pay TX fees on your behalf, eliminating the need to hold cryptocurrencies.
By using unWallet's meta-transaction function, application operators can support end users in paying transaction fees (either by taking over the entire transaction or by paying in fiat currency on their behalf, with the understanding that the fee will be paid upfront or later).

[Security]

- By using the meta-transaction function of the self-sovereign wallet
unWallet, application operators can support end users in paying transaction fees (either by completely covering the transaction fees or by paying them in fiat currency, with the understanding that they will be paid in advance or later).

・Responsible for the loss or theft of private keys
Pushing the responsibility for responding to incidents such as theft or loss of private keys onto individual end users without specialized knowledge has a negative impact on application security and customer support costs. unWallet supports users in managing their private keys using a secure method called social recovery.

・Multi-factor authentication
To use unWallet, users must pass multi-factor authentication using SMS and FIDO in addition to the standard email address and password authentication. This means that usage by anyone other than the wallet owner can be strictly restricted.

About Sivira Co., Ltd. ( https://sivira.co/index-ja.html )

Since 2015, the company has been researching and developing blockchain technology in non-financial fields and providing solutions. It is a world-leading blockchain company with high technological capabilities and has acquired numerous patents. Its technological capabilities have been recognized and it has concluded capital and business alliances with major companies in various industries

Company Profile
Company Name: Sybilla Co., Ltd.
Representative Director: Takashi Fujii

Business Description: Blockchain research and development and solution provision
Established: March 2015
Capital: 324,543,015 yen (including capital reserve)

About Beyond Inc. ( https://beyondjapan.com/ )

Beyond Co., Ltd. was established in April 2007 and is a company that handles cloud/server construction and operation management, web system development, and web services

<Cloud/Server Business>
We provide the best performance for your cloud/server, from cloud/server design to construction and migration, as well as 24/7 operation, maintenance and monitoring.

<System development business>
We develop web systems for social games, e-commerce sites, advertising services, etc., as well as server-side API development.

<Web service business>
We plan, develop, and operate various cloud services, including our own services, the reservation system EDISONE and the website monitoring service Appmill.

Company Profile
Company Name: Beyond Co., Ltd.
Representative Director: Masahiro Haraoka
Head Office Location: Nankai SK Namba Building 3F, 1-10-4 Namba-naka, Naniwa-ku, Osaka City, Osaka Prefecture
Established: April 4, 2007
Capital: 9 million yen
Number of Employees: 52 (as of February 2022)

*The company names and product names listed are trademarks or registered trademarks of the respective companies