Mass adoption is getting closer: web based smart wallets

In a Twitter spaces call from last friday the guys from Loopring announced a new development. One thats pretty interesting from a web3 onboarding perspective.

Many of us have talked about that nfts and web3 will only become big once people dont really know they use the tech but experience the benefits. Right now you still need to actively create a wallet, save the seed phrase, perhaps load up some money before you can receive or get nfts.

What Loopring has done is develop what they call a web based smart wallet. As they explain it you will be able to sign in with your Google or Apple ID, the tech will then create a smart wallet and link the key to your account. Eliminating the need to do this yourself and also just make you feel like you are registering another account, as you have so many already.

Thanks to the L2 solution they use it becomes very cheap for companies to send you an nft. Say that promotional skin for that awesome game you want to play. When logging in with your trusted apple ID you see that skin in your inventory ingame and can use it instantly. Not knowing its an NFT but still have all benefits associated with it being one.

Ofc, this can then be tied to a market place where you can sell it etc.

All in all its a pretty awesome step in onboarding and streamlining this entire process.