Practical applications at the user layer are essential for Web3’s mass adoption. Social wallets combine two of the most important components of Web3: communication, and digital asset management to create customer-friendly layers.
Web3 social wallets can be used to perform a variety of activities such as group messaging, direct messaging and transactions.
Recently, several social wallets gained funding and traction.
- Tribes received $3.3M pre seed funding from South Park Commons and Kindred Ventures in a round that was led by Script Capital.
- Easy raised $14.2M from a round that also included Lobby Capital and Relay Ventures as well as 6th Man Ventures and Tapestry VC.
- Zerion was awarded $12M by Wintermute Ventures and Mosaic as well as Coinbase Ventures, Alchemy and Placeholder.
Web3 wallets are focused on different aspects of being social
All three wallets share some common features, such as the ability to connect users with the same usernames on different platforms. Social wallets do this by integrating to decentralized protocols and other dApps within the Web3 ecosystem like ENS or Unstoppable Domains which offer NFT usernames and domains. A common theme is the facilitation of Web3 search through various tools.
Each has its strengths.
Tribes – Create chat groups and share digital assets
People communicate mainly through Web3’s external platforms, such as Discord, Twitter and Telegram. Social wallets allow communication to be made directly within digital wallets. They act as messengers.
Tribes allow you to create a group chat that allows each member to access a mutual wallet. Members can share assets and manage them together. They can send and buy tokens together, invest in NFTs together, and integrate decision-making into the chat. Members of groups can discuss and propose transactions. When they’re ready, they can vote in the chat.
Multi-signature smart contract are required to obligate multiple signatures to approve transactions. Tribes integrates seamlessly with Safe.
It can also be integrated with many Web3 ID solutions. Integration with ENS allows users to sign in using their usernames. It integrates seamlessly with Unstoppable Domains and the Lens protocol. Tribes can be used to access assets and wallets that are built on Solana. This allows people to use their.SOL usernames.
Simple: Navigate Web3 more securely
Easy, a social wallet, has just launched its beta version on the App Store. Its goal is to bring together Web3 as a community. Easy users can rate dApps and flag potentially dangerous ones to alert other members. This community rating system makes Web3 navigation safer.
You can also follow other accounts to curate engaging social profiles and showcase NFT collections. To keep you informed about what’s going on in Web3, the profile feed provides a summary of verified blockchain activity. Users can search natively for new tokens, collections and influencers using the multichain search engine.
Zerion: Follow intriguing crypto wallets using the social search feature
Zerion is a multichain wallet which works on more than 10 networks. It has more than 200K monthly active users at the time of writing.
Zerion allows you to explore social tokens. These tokens are built around the brand or individual’s reputation. To create token-gated experiences, creators create social tokens.
Holders with the minimum number of governance tokens may participate in decision-making and access Discord channels to discuss issues. Whale, Friends with Benefits and Mork are some social tokens that have been integrated with Zerion.
Zerion’s search box allows you to look at any cryptocurrency wallet. This is one of its highlights. The wallet integrates with more than 500 protocols, including ENS domain name. To explore all assets in the wallet, simply enter a username such as vitalik.eth in the search box.
It’s also possible to search for and follow Lens profiles. This will enhance the social aspect of your wallet as Lens is an important participant in the decentralized social network. The search function allows users to follow whale wallets and receive notifications about their transactions.
NFT News Today’s first article was A Comparison of Web3 Social Bank Wallets.
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