AAG, a web3 infrastructure provider, today launched its flagship product – the MetaOne Wallet. The MetaOne Wallet eliminates the need for new users to remember or securely store their private keys and seed phrases, making web3 onboarding simpler and easier for them.
What is a seed phrase? A seed phrase, also known as a recovery phrase, is a string of letters that unlocks your cryptocurrency wallet. If you lose your password, phone, or hardware device, you can still recover your crypto assets since seed phrases function as a master password. However, you won’t be able to access your wallet if you forget your cryptocurrency seed phrase.
Why does it matter? According to a study from CryptoAssetRecovery.com, Bitcoin investors lost between $272 million to $545 million in 2022, owing to various reasons like forgetting passwords to their wallets or making a mistake in recording their “seed phrases“.
The MetaOne Wallet’s intends to make using it as simple as possible so that anyone may begin exploring Web3 and cryptocurrencies.
To shorten the wallet learning curve, MetaOne eliminates the need for users to remember their private keys and seed phrases. Instead, users can log into their wallets via several different alternatives, including email and password, as well as a device’s passcode and biometrics.
AAG, the creator of MetaOne Wallet, offers software solutions that helps simplify interactions with blockchain applications and the Metaverse for mainstream users and traditional companies. In addition to the new MetaOne wallet, AAG provides infrastructure software, such as a cross-chain search engine and GameFi SDK for enterprise companies.
AAG thinks that the key to maximizing web3’s potential is education. In order to enable economic opportunities throughout the world through the Metaverse economy, AAG is also investigating the Learn-and-Earn concept. By 2030, AAG wants 1 billion people to participate in the Metaverse economy.
Getting back to MetaOne Wallet, It also offers fiat on-ramps provided by industry giants Coinbase Pay and Simplex, an integrated decentralized application (dApp) marketplace serving only approved dApps, and AAG’s own educational AAG Academy.
Jack Vinijtrongjit, Co-Founder and CEO of AAG, said : “I truly believe MetaOne will be a game-changer for both consumers and businesses. When businesses are able to provide a more seamless onboarding experience and consumers can feel safe to enter and discover what they can do with Web3, we will be able to take a giant leap toward mainstream adoption.”
MetaOne makes it simple to acquire, monitor, and manage a wide variety of digital assets and NFTs since it was carefully created to meet the demands of both novice and seasoned users. Moreover, the connections between Simplex and Coinbase Pay guarantee that consumers can use tried-and-true fiat-based payment methods to buy their first digital assets.
AAG said that it has placed strong emphasis on the safety, security, and efficiency of the MetaOne Wallet. Built on top of AAG’s scam detector software, MetaOne Wallet can detect and mitigate potential scams from malicious smart contracts and bad actors. The MetaOne Wallet also has a built-in feature that warns users of common mistakes, allowing them to double-check before committing to a transaction.
The MetaOne Wallet features an integrated dApp store, the MetaOne dApp Store, offering more than 1,100 dApps across several categories. Each dApp is individually verified for quality and safety to guarantee users’ safety from scams and rug pulls.
Developers can also contribute to the ecosystem, leveraging the MetaOne API to provide newer experiences for users, such as requesting access to move assets cross-chain and cross-wallet without requiring users to bridge or move all digital assets into the same wallet.
MetaOne wallet will initially support tokens & NFTs from 5 blockchain networks: Bitcoin, Ethereum, Polygon, Harmony, and BNB Chain. Support for Solana, Fantom, Arbitrum, Optimism, Immutable X, Lightning Network, Klaytn, NEAR, Cardano, Flow, Ripple, Cosmos, Tron and a few other blockchains will be added in 2023.
With the planned roll out of support for multiple blockchains in 2023 and the AAG Academy spearheading the efforts to raise awareness about crypto and Web3, MetaOne intends to play a vital role in helping drive the mainstream use and acceptance of Web3 primitives.
Read Also: Spool Launches A New Tool For Simplifying Risk-managed Yield Portfolio Creation