What could seamless signup mean for crypto? Ex-Reddit PM Mayank Jain and his team built Wally to simplify the transition to crypto.
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Wally founder and CEO Mayank Jain says, “We believe that the next iteration of crypto apps will have no seed phrases, easy credit card checkout, gasless transactions, and no confusing messages or transactions to sign.” Don’t know what seed phrases or gasless transactions are? You don’t actually have to. Wally, which launched in beta today, enables decentralized app developers to simplify their onboarding processes.
Web3 is still a tiny corner of the internet with a high learning curve. Cumbersome work and a knowledge gap have caused both investors and developers to leave a lot of money on the table. Wally plans to help bridge the gap between Web2 and Web3.
Friction, at any point of any conversion, is bad for customers and bad for business. Just think about how many times you abandoned cart before Apple Pay was enabled. The infrastructure behind one-click payments enabled a new wave in eCommerce and catapulted already booming online sales to new heights.
The pain felt in the crypto signup process is no different. Wally says “80% of people want to use your dApp but never connect their wallet.” But with a seamless onboarding infrastructure, customers can sign up to dApps with their email address and Wally will “abstract away the painful parts of creating a wallet.”
Jain, who is a former Senior PM at Reddit, has us thinking there’s something in the water over at Reddit. People have started to notice the social platform’s approach to “digital collectibles” (No NFTs here). Meta appears to be following suit.
Do you think Wally’s out-of-the-box experience will help bring crypto to the masses? Chime in.👇