A few years ago, the presence of Web2 corporations was felt all over the Web3 world. Companies saw the opportunity in this new arena and wanted to determine how the innovative technology being developed and improved on the blockchain could integrate into their operations.
Many ended up cutting their stay short as the bear market came and attention went elsewhere. One company that has doubled and tripled down on its conviction in Web3 and the future of blockchain technology is VanEck.
VanEck, according to its website, has been innovating in the investment industry for almost 70 years. VanEck was the first firm to open international markets to American investors. Ever since, VanEck has been looking to be at the forefront of innovation for their customers.
If you follow VanEck US on X, you’ll notice that the profile photo of the firm is an honorary Pudgy Penguin. VanEck has been taking a Web3-native approach to its time in the space and was innovating in blockchain long before many of its competitors.
I recently had the opportunity to speak with Matt Bartlett, CAIA, the head of Web3 at VanEck. I wondered how the firm merged its history with its approach to innovation, as well as what is coming up for VanEck in the Web3 space.
In the conversation below, “DH” will refer to the interviewer, and “MB” will refer to the interviewee.
DH: “First off, thank you for taking the time. Let’s start with a brief background about your history in Web3. How did you originally get involved in the space, and what led you to become the head of Web3 at VanEck?”
MB: “I joined VanEck in 2013 as Head of the Tampa, Florida office, where my primary focus was leading our Internal Sales efforts. My journey into Web3 began in 2017 when I purchased my first NFTs, participating in Decentraland’s land auction.
At the time, I had a vision of creating a digital winery that would connect real-world vineyards with wine enthusiasts in a virtual setting. While I was early with that idea, I also experienced my first crypto winter in 2018. Despite the market downturn, I stayed engaged with the space and, by 2021, started writing Web3 educational content. This eventually led to my involvement in launching VanEck’s first NFT offering—a free mint where tokens couldn’t be sold but granted access to exclusive Web3 events. Our goal was to bridge the gap between Web3 enthusiasts and TradFi professionals who were curious about crypto.
Following the success of that initiative, Jan van Eck transitioned my role to Head of Web3, and tasked me with building out the firm’s crypto-native capabilities. The first initiative is SegMint.io, or SegMint GmbH, which we launched under VanEck Europe.”
DH: “VanEck has been working on SegMint for a few years now. How would you describe the vision for SegMint, as well as the product market fit?”
MB: “We launched SegMint in February 2024 as a collectible management platform, introducing a novel approach to fractionalization called the Lock & Key model. This mechanism allowed users to trade fractions—what we call SegMint Keys—on our platform. However, access required KYC and was limited to users outside the U.S., making it challenging to scale the business, especially in a semi-bear market with significant regulatory hurdles.
Recognizing the need for a broader approach, we’ve since pivoted to a more holistic collectibles platform. While keeping the fractionalization model live, we have expanded it to include a general NFT marketplace, allowing users to trade their favorite NFTs.
We’ve also aggregated listings from other RWA tokenization providers and, in the future, plan to support the tokenization of users’ own collectibles—enabling anyone to bring their real-world assets on-chain. Our primary focus now is achieving product-market fit—creating a solution that meets real demand, fulfills a clear need, and becomes a go-to platform for everything collectibles.”
DH: “Many Web3-native startups have launched existing marketplaces before the recent introduction of SegMint. What differentiates the product that you are working on and envision from existing marketplaces in Web3 today?”
MB: “Having seen a full market cycle, it’s clear that no dominant leader has emerged in the general NFT marketplace space. The same applies to projects focused on tokenizing specific RWA collectibles—such as wine or watches—or those taking a broader approach to the collectibles market. Many existing platforms are single-chain and still trying to find their footing.
One of our key differentiators is our fractionalization model, which we believe is superior to existing alternatives. While broad demand for fractionalization hasn’t fully materialized—at least in this phase of the cycle—it remains a valuable innovation that we are positioned to scale when the market matures.
Beyond that, our strength lies in the culmination of services and features we offer. Once our user-driven tokenization feature is live, SegMint will stand out as one of the most comprehensive collectibles platforms, allowing users to trade, tokenize, and manage their assets seamlessly. We’re also aggregating the best listings from across the space, ensuring collectors have access to a curated and optimized marketplace.
Most importantly, SegMint is built for collectors, by collectors. Understanding their pain points is central to our approach, as I myself am a passionate collector. This perspective informs our product vision—ensuring SegMint is not just another marketplace, but a true home for collectibles in Web3.”
DH: “How does having the backing of VanEck behind SegMint help to navigate Web3, as well as to build products that can appeal to a broader audience beyond the currently crypto-native users?”
MB: “VanEck has a long history in the digital assets space. We were the first ETF firm to file for a BTC-linked ETF back in 2017, and after years of persistence, that vision became a reality early last year. But beyond ETFs, VanEck has launched a wide range of investment solutions, led educational initiatives and events, and worked to bridge the gap between traditional finance and the digital asset economy.
One of our greatest strengths is the depth of our digital assets team, which brings together professionals with deep expertise across various sectors of the crypto ecosystem. I often say our team rivals the Avengers—because I’m far from building SegMint alone. I leverage our firm’s deep bench of talent, leadership in the space, and industry reputation to shape SegMint into something that can scale beyond crypto-native users.
While it’s taken time for the broader community to recognize the VanEck connection, that association now provides a level of trust and credibility that sets SegMint apart. Knowing that a firm with such a longstanding and respected reputation is behind this effort reassures users and helps expand the appeal of our platform beyond the core crypto audience.”
DH: “Many Web3 startups pivoted the past couple of years to more of a Web2 audience to try to create more traction during the bear market. As Web3 evolves, how do you strategize to balance a marketing and communications approach that reaches both Web2 users who could onboard to your Web3 products, as well as Web3 users who maybe aren’t traditional VanEck customers, but will be able to pick up any Web3 offerings from VanEck much more quickly?”
MB: “For most serious crypto startups, the North Star is finding traction in Web2. That’s why SegMint and other projects have deployed across chains like Abstract, which is built around the concept of Consumer Crypto—a term popularized by Pudgy Penguins CEO, Luca Netz.
One of the biggest barriers to Web2 adoption has been onboarding friction, but innovations like Privy—which enables users to spin up wallets using just their email—have greatly improved this experience. Abstract has built on top of this with its Global Wallet, making seamless onboarding even more accessible. As these types of game-changing technologies emerge, we see broad adoption across projects, as they represent key unlocks for onboarding Web2 users.
By collaborating with Abstract and like-minded projects, we hope that one or more of us will continue to discover these breakthrough solutions, making it easier to bridge Web2 users into Web3. That said, current liquidity and demand still primarily come from existing Web3 users, particularly those interested in luxury and investment-grade collectibles.
For them, SegMint aims to be the go-to platform, while in parallel, we work to capture the attention of traditional collectors and mainstream consumers. Striking this balance—serving Web3 natives while gradually unlocking Web2 adoption—is the key to long-term success.”
DH: “As the head of Web3 for a 70+-year-old traditional finance company, how do you see the worlds of traditional and digital assets merging going forward?”
MB: “Over time, the worlds of traditional and digital assets will inevitably converge. Today, the typical Web3 user—often referred to as a ‘degen’—is younger, digitally native, and more comfortable with risk, but they often lack diversification when it comes to traditional securities exposure. On the other hand, those from traditional finance are still learning about digital assets but remain hesitant due to the volatility and regulatory uncertainties in the space.
That said, blockchain technology is inescapable. Whether it’s powering the backend of a Web3 game or serving as the foundation for the trading infrastructure of the future, its role will only continue to expand.
Ultimately, as blockchain solutions become more seamless, regulated, and widely adopted, we’ll see greater integration between the two worlds. Web3 users will gain more exposure to traditional assets, while TradFi participants will gradually embrace tokenized assets and blockchain-based financial systems. The question is not if they will merge, but how quickly we can build the bridges that make this transition smooth and accessible for all participants.”
DH: “SegMint mint and reveal, as well as the launch of the marketplace, are initial steps in your vision for VanEck Web3. What else is in the works that you’re able to share?
MB: “Although still relatively new, I see the Web3 department at VanEck as a space for creativity and forward-thinking innovation—one that allows us to explore solutions that not only keep VanEck competitive but also position us as a leader in certain areas of the digital assets space.
While most asset managers are still in the research phase or exploring the tokenization of securities, VanEck is actively building products that anticipate the needs of future clients. Our focus goes beyond just tokenizing financial instruments—we are creating solutions that align with the ethos of Web3, particularly around self-custody and user empowerment.
The Recent SegMint mint and reveal, along with the marketplace launch, are just initial steps and experiences to learn from. Looking ahead, we’re exploring new ways to integrate real-world assets, improve accessibility for mainstream users, and enhance the utility of tokenized collectibles. Everything we’re working on ties back to our core mission: leveraging blockchain to build innovative, user-first solutions for the future.”
DH: “Where can interested parties keep up today on all things Web3 for VanEck?”
MB: “I write a weekly Substack called BlubberNotes.com, which focuses on NFT alpha for future whales. I started it a few years ago when we launched the VanEck Community NFT as a way to get people interested in the space while also continuing to educate and raise awareness about Web3. For those new to real-world assets (RWAs), I highly recommend checking out our podcast, RWA SegMints, available on Apple, Spotify, and all major platforms. It’s designed to be educational and practical, helping listeners understand real-world applications of Web3 and tokenization. Following me on Twitter and LinkedIn is another great way to stay up to date on all things Web3 at VanEck!”
DH: “Finally, on a broader scale, where do you see the industry heading through the end of the year and beyond? What has you excited about the direction that Web3 is heading?”
MB: “I’ve never been a fan of memecoins, excessive leverage, or the gambling mindset that sometimes dominates the space. Similarly, while I appreciate generative art and understand its value, it’s not what excites me most about Web3. To me, the real promise of Web3 lies in utility-driven innovation, and that’s why I’m so passionate about real-world assets (RWA)—a broad and evolving sector with immense potential.
While many focus on areas like stablecoins or on-chain treasury exposure, my interest lies in the collectibles space. It’s a massive industry on its own, with deep cultural and financial significance, and I believe it’s one of the most compelling frontiers for tokenization.
Looking ahead, I expect 2025 to be a pivotal year for RWAs, particularly in tokenized collectibles. We’ll see major breakthroughs that enhance traditional models like Web auctions and consumer marketplaces, unlocking new efficiencies, liquidity, and accessibility. The combination of blockchain and collectibles present an exciting opportunity to reshape how people own, trade, and engage with high-value physical assets, and that’s what keeps me excited about the direction Web3 is heading.”
