--- tags: Content --- # Wallet Comparison Section 1: Most important and timely The crypto industry has seen various waves of "mainstream" adoption. Most notably for the general public was from the rise of meme coins of 2020 and NFT wave of 2021. This mass consumption of users holding crypto brought rise to Coinbase generating X wallet holders. With the rise of a mass consumer base becoming introduced to the concept of digital currencies comes the introduction of collectable goods and memorabilia. Large brands are familiar with the power of merchandising and brand loyalty. Mattel being a large distributor of cobranded deals such as Mattel and Pixar's Toy Story. Mattel's collaboration and direct-to-consumer platform, is further evolving its toys as art collection to include a Non-Fungible Token (“NFT”) series from the iconic collectable Hot Wheels brand. To participate in these digital collectables, users typically need a crypto wallet to be able to store their assets as well as login to their account to view their collection or acquire more. Section 2: Quick Short comments Crypto Wallets is a virtual and visual storage of your crypto assets, not limited to but including your NFT collection. The growing increase in NFT purchases has influenced the development of functionality in NFT wallets for conserving NFT art after minting or purchase. Surprisingly, an NFT wallet does not account for assets in a bank account's digital equivalent. Instead, the wallet merely tracks the location of your funds on the blockchain. The growing demand of NFT purchases has influenced the development of functionality in NFT wallets for keeping NFTs after minting or purchase. The NFT wallet does not account for assets in a bank account's digital equivalent. Rather, the wallet tracks and surfaces the location of your NFT asset on the blockchain. The issue with wallets is ease of use, as most wallets behave as a account registration and login mechanism, the current versions of wallets require too much technical knowledge for the average consumer. This leaves missed opportunities for brands to provide a seamless adoption experience for fans to register and acquire the good or service the brand is providing. Having a user-friendly interface is one of the most crucial characterisitics to serach for ine a NFT wallet. There have been cases of companies rolling out their web3 product with a sign-up solution that creates too much friction, resulting in lackluster user adoption rates thus rendering a failed product launch. Section 3: Elaborate on theme Web3 adoption began with technical login tools that web3 natives are familiar with but poses onboarding fatigue after a multi-step process to register. Metamask is a leading digital wallet that has 21M monthly active users, yet the Chrome extension requires a burdensome 12 step process to create a wallet. In 2021, more than 300 applications have used Web3Auth to secure 4M+ users’ wallets. While Metamask and Web3Auth provides wallet services across various industry functions, it's the consumer friendly markets that better resonates with customer adoption. Moving away from the niche of running liquidity pools in DeFi, is the next wave of adoption through consumer-goods such as gaming and content. As NFTs entered the zeitgeist as digital art, comes the evolution of NFTs as a utility, may it be a representation of a club membership or a digital good in a video game. The industry therefore has evolved beyond what Metamask and Web3Auth has offered seeing a rise in wallets focused on removing the friction of consumers experiencing Web3. As Pokemon Go introduced 133M players to augmented reality in 2018, wallets introducing consumers to web3 through video games as a medium includes the wallets like Venly, Enjin and Dapper Labs. As cited by DappRadar, 60% of all blockchain activity in July 2021 came from web3 gaming alone, this includes the transactions of NFTs. The Blockchain Game Alliance reported that NFT games generated $2.32B in revenue in just the third quarter of 2021. [Chart Includes Comparison of Wallets] Section 4: Why this matters Wallets matter for mainstream adoption because it enables users to sign-up and engage with a company's valuable asset: their brand. While not an NFT but highlights the earning potential of digital goods: Fortnite's collaboration with the NFL released one digital good in the game that generated $50M in revenue (Forbes). In the case of web3, these companies' brands are created or minted as digital goods for fans and customers to collect and adopt. However, as crucial as wallets are for companies to acquire new users, existing wallets exemplify poor UX and scailing bottlenecks. Web3Auth has a wallet that requires data to be transacted through a traunched node validation process that requires processing time. Magic's vision of helping humanity adopt technology removes friction of access through a two-step process where the login is passwordless, and a secure authentication is sent to allow for a wallet to be created. A quick sign-up process allows any fan, user or gamer to log into a platform seamlessly and engage with the desired product that brought that user to the brand in the first place. Section 5: Conclusion As we look back to how Web3 adoption first began, was the desire to understand how crypto transformed the legacy of financial institutions. As mainstream consumers continue their fandom and love for brands and retail experiences, comes the desire to participate in those markets through new Web3 mediums like NFT collections. Thoughts: Maybe this article is suppose to be more like this format? https://getlasso.co/product-review-template/ Help: - Super Bias, how to create less bias narrative - could go deeper into the comparisons of each wallet