The “social” cryptocurrency wallet developed by The Easy Company, a company whose primary focus is the development of a consumer layer for the decentralized web, has received a seed round investment of $14.2 million. This wallet’s primary objective is to facilitate the incorporation of more general audiences into the Web3 ecosystem.
According to TechCrunch, the first investment round was comprised of participation from a diverse group of investors. These investors included Lobby Capital, Relay Ventures, and 6th Man Ventures, as well as Tapestry, Upside, and Scribble. Other investors included Lobby Capital, Relay Ventures, and 6th Man Ventures.
Angel investors who had experience in traditional social media as well as Web3 participated in the round as well. Among these investors were former executives from companies such as Instagram, Novi, Airbnb, Twitter, Uber, OpenTable, and Eventbrite.
It is said that the wallet has entered the public testing phase and is now available for both iOS and Android after going through a period of thirty days during which it was tested in secret.
Mike Dougherty, the Chief Executive Officer of Easy, has stated that the company’s mission is to integrate compelling social elements with user-curated profiles so that anyone can search, browse, and discover the world of Web3 on their own.
The presentation that Dougherty gave, a significant number of the products and services that are currently being provided by Web3 companies are far too complicated for the typical person to be able to make use of them. The mission of the company is to make it easier for customers to interact with Web3 and use digital wallets by streamlining these processes.
The platform has a structure that is comparable to that of social media applications like Instagram, in which users may swipe to see either their own NFTs or those of others they watch, similar to how Instagram Stories are shown. In addition, it is said that the platform features a user interface that is comparable to that of social media applications like Instagram.
Despite the fact that the crypto winter has persisted for such a significant amount of time, venture capitalists continue to provide significant investment for Web3 companies.