FinTech news in web3 category
"Our mission is to build the best infrastructure for exchanges," Jog said, adding that the blockchain also has projects building games, NFT marketplaces and rollups. "It’s not just DeFi, but other applications that derive demand from trading."
LayerZero Labs, a web3 messaging protocol, has closed a $120 million Series B round, raising its valuation to $3 billion from $1 billion, the company said on Tuesday.
“The biggest challenge in the global supply chain is the lack of transparency. The manual processes, the paperwork; you would be surprised if you submit a document in a bank in India, they still ask you to sign the document with an ink-based signature, it’s a lot of manual labor.”
It has 63 members, including crypto venture capital firms like Multicoin Capital, Delphi Digital and Dragonfly Capital, as well as family offices, traditional VCs and corporations.
OP3N’s chat-based product, Superapp, aims to bridge the gap between Web 2.0 and web3 through implementing blockchain and decentralized technologies into Web 2.0-friendly interfaces. So going forward, Ma realized OP3N has to bridge the traditional market into web3 in a way that’s more understandable.
We realized very quickly the scaling limitations of Ethereum, but we never wanted to compete with it. Polygon could help Immutable avoid Ethereum congestion and costs without having to build its own alternative.
The Ledger Extension is compatible with Ethereum- and Polygon-based dApps and platforms and plans to support more EVM-compatible chains and Solana in the future, the company shared.
One company that is demonstrating how blockchain can come in handy in real life is Kansas-based Redeem, which allows users to claim non-fungible tokens using phone numbers rather than having to set up crypto wallets.
Coinbase wallet as a service (WaaS) is a scalable set of wallet infrastructure APIs that allow companies to create and deploy customizable on-chain wallets to their users.
The tool will be compatible with Alchemy-supported blockchains like Ethereum, Polygon, Arbitrum, Optimism and more, Rivabella noted. It also plans to include other protocols and software development kits in the future, he added.
The crypto industry doesn’t have a cohesive way for people to search for information across channels in a way that traditional search engines like Google do for mainstream information.
The regulatory requirements are open for consultation through March 31 and the new licensing regime will take effect on June 1.
While there are a number of web3 security companies out there, Stelo Labs focuses on helping prevent malicious transactions, phishing and social engineering for Ethereum-based users, Dhesi said.
Sesame Labs, a web3 marketing platform, raised a $4.5 million seed round co-led by Wing Venture Capital and Patron, co-founders Vinay Jain and Aman Jain exclusively told journalist. Additional investors include Samsung, DoubleJump, Forte, Moonfire, Twin Ventures and angel investors like Balaji Srinivasan, chief technology officer at Coinbase and founder of Earn; Robin Chan, co-founder of Fractal; and Ryan Spoon, chief marketing officer at Sorare. A lot of classic Web 2.0 tools like Facebook ads or Twitter ads aren’t successful in web3 because they don’t fully understand on-chain behavior, Vinay noted. In the long term, the co-founders plan to focus on defining what web3 ads look like and build the product that powers it so applications can connect with users in a more innovative way.
QuickNode, a blockchain deployment platform, has raised $60 million in a Series B round for an $800 million valuation, the company CEO and co-founder, Alex Nabutovsky, told journalist. While the capital will focus on expansion, the company also wants to use the funding for growing blockchain adoption, Nabutovsky said. QuickNode was founded in 2017 and aimed to bring Web 2.0 infrastructure to web3, but snowballed over time, Nabutovsky said. In total, the firm has raised more than $105 million, Nabutovsky said.
Deal Box has taken strategic institutional funds from family offices and high net worth and ultra-high net worth individuals, Carter shared. Deal Box, a capital markets advisory and token offering packaging platform, has launched its venture arm with plans to invest $125 million in startups using web3 technology, the company shared Wednesday. There has also been interest from institutional investors, other family offices and sovereign wealth funds, Carter added. The firm has closed initial strategic investments in three startups — Total Network Services, Rypplzz and Forward-Edge AI — as part of its web3 investment thesis.
The $1 billion vehicle, Venom Ventures Fund (VVF), is a blockchain-agnostic fund that will invest in pre-seed to Series A rounds for web3 protocols and decentralized applications (dApps) that focus on trends like payments, asset management, DeFi, banking services and GameFi. The fund leadership team includes Peter Knez, ex-CIO of BlackRock and former global CIO for fixed income at Barclays Global Investors, and Mustafa Kheriba, a board member for multiple family offices and long-term investment professional in the Middle East and North African regions. Venom Foundation, a layer-1 blockchain licensed and regulated by the Abu Dhabi Global Market, and investment manager Iceberg Capital have partnered to launch a $1 billion venture fund, the two firms announced on Wednesday. In general, the VVF team has experience growing both web3 funds and traditional funds as well as experience in providing growth capital for both startups and scaleups.
Mentors include Jack Lu, CEO and co-founder of Magic Eden; a handful of venture capitalists; Rob Behnke, co-founder of Halborn; Brendan Farmer, co-lead at Polygon Zero; Dan Kim, VP of business development and listing at Coinbase; and Miles Anthony, CEO and co-founder of Decentral Games, to name a few. Company name: Davos Protocol What it does: Stable asset lending protocol Founders: Varun Satyam, Julian Hayward, Filipe Gonçalves Stage: Seed Company name: Mystic Moose What it does: Web3 gaming developer Founders: Mike Levine Stage: Seed The pitch: Mystic Moose is a web3 platform, gaming studio and publisher that was formed by a team of gaming veterans who have worked at Activision, LucasArts and Electronic Arts.
The wallet also allows users to link their social identity from other sites and curate their profiles with their own NFTs from multiple wallet accounts and blockchains. The funding round included Lobby Capital, Relay Ventures, 6th Man Ventures, Tapestry, Upside and Scribble, as well as angel investors from traditional social media and web3 groups like former heads of Instagram, Novi product and engineering and former executives from Airbnb, Twitter, Uber, OpenTable and Eventbrite, among others. Today, its beta wallet is available to the public on iOS and Android after completing a 30-day private testing phase, Mike Dougherty, co-founder and CEO of Easy, said to journalist. In the app, people can also send crypto and tokens to profiles and real usernames, rather than a random variation of numbers and letters (which often make up one’s crypto wallet address), Swint said.
And now, without further ado, here are the final four startups ready to impress investors: Meet Candy Shop, a one-stop solution provider designed to make NFT deployment and brand-management problems a thing of the past. It The Cross Chain Coalition Web3 Demo Day, a showcase of 12 boundary-pushing early-stage startups building projects across web3, DeFi, NFT and gaming. Founded by Gabrielle Patrick, the company builds clearing infrastructure designed to let firms leverage distributed ledger technology, become payment institutions or become electronic money institutions. Join us tomorrow — January 11 — for the Cross Chain Coalition Web3 Demo Day and see for yourself what the brilliant minds behind 12 up-and-coming projects are building.
Watch as we livestream more than 12 up-and-coming founders — spanning web3 infrastructure, DeFi, NFT and gaming — as they pitch to an audience (that’s where you come in), including influential execs, founders and investors. She served as the global head of the firm’s digital sustainability business, chief operating officer of its digital wealth business, and leader of strategic fintech investments and blockchain activities. The Cross Chain Coalition Web3 Demo Day, which takes place on January 11, 2023, is a joint production between the CCC and journalist. Tune in — for free — to the Cross Chain Coalition Web3 Demo Day on January 11, 2023.
In the long term, the network wants to create a system using which people can transact and coordinate with the level of encryption needed for mainstream blockchain adoption, Andrews said. Aztec Network, a privacy layer for web3, has raised $100 million in a Series B round led by Andreessen Horowitz (a16z), the startup co-founders Zac Williamson and Joe Andrews exclusively told journalist. While there are several encrypted blockchains like Zcash and Iron Fish network, Aztec differentiates itself from them because it’s programmable, Williamson said. Encrypted blockchains provide transparency for the protocol but privacy for the users, so people aren’t required to show their identities when transacting, Williamson said.
In the wake of the crypto bear market and the FTX collapse, Yeoh believes this capital raise points to the industry’s interest in web3 infrastructure and real use cases. Nillion, a web3 startup aiming to build a non-blockchain decentralized network, closed an oversubscribed round of more than $20 million, the company exclusively told journalist. In the short term, Nillion plans on focusing on building out and supporting real use cases while launching its network alongside its initial suite of products. While Nillion’s model is not blockchain-based, it does have a decentralized component to it, meaning that it falls under the larger web3 banner by journalist’s reckoning.
The new initiative, which includes coffee-themed NFTs that translate to real-world experiences, is an extension of Starbucks’ existing loyalty program, Starbucks Rewards, but leverages web3 technology like the polygon blockchain and NFTs. To enter Starbucks Odyssey after getting an invite, members will need to have an existing Starbucks Rewards account as this program is tied to the company’s larger loyalty initiative. Starbucks today is launching its blockchain-based loyalty program and NFT community, Starbucks Odyssey, to its first group of U.S. beta testers. As you earn more points and NFTs, you may then begin to gain access to real-world experiences, like special events hosted at Starbucks Reserve Roasteries or even a trip to the Starbucks Hacienda Alsacia coffee farm in Costa Rica.
Late Tuesday night, TBD, the Bitcoin-focused division of Jack Dorsey payments company Block (formerly Square), announced an ill-thought-out plan to trademark the term, which refers to its vision for a decentralized, privacy-focused iteration of the future web that TBD has been promoting in recent months. For several months, TBD has been promoting the term Web5, explaining how Web5 technologies could bring decentralized identity and data storage to applications while returning ownership of data and identity to individuals. In theory, Web5 would allow users to connect with apps using their decentralized identity, instead of constantly creating new profiles for services they wanted to try. This move, however, did not fly with the TBD community, as many pushed back at the idea that free and open-source technology needed such a gatekeeper.
NFT marketplace Magic Eden is integrating with the Ethereum scaling layer-2 blockchain Polygon to dive deeper into the blockchain gaming and NFT ecosystems, the companies announced on Tuesday. In Magic Eden’s case, its NFT marketplace launchpad is a cross-chain on Solana, Ethereum, or both and is responsible for 90% of all Solana-based NFT volume, according to its website. Long term, the partnership between Magic Eden and Polygon aims to bring more gaming developers and NFT games to market, Yin said. However, in the past 30 days, Ethereum NFT sales volume increased about 26%, while Solana NFT sales volume fell almost 20%, the data showed.
Mentors include Colleen Sullivan, co-head of ventures at Brevan Howard Digital; Mike Dudas, founder of LinksDAO, The Block and an investor for 6th Man Ventures; Anatoly Yakovenko, co-founder of Solana; Ryan Selkis, founder and CEO of Messari; Mounir Benchemled, founder of ParaSwap; Amir Bandeali, co-CEO of 0x Labs; and Ryan Wyatt, CEO of Polygon Studios. The pitch: Slide is a web3 digital advertising-focused platform that aims to analyze on-chain activity to provide tailored ads across the web3 ecosystem. Many of the teams are looking at improving crypto themes like proof-of-physical-work, wallet experience for everyday users, product-driven protocols, crypto B2B products, on-chain data and verticalization, Wang said. The current marketing technology doesn’t cater to web3 tools or on-chain and off-chain data, so it needs to be revamped to consider new technologies, co-founder Nathan Snell said.
Its differentiator is Notifi’s product is designed to allow for highly customizable experiences that dApps can implement and manage, Kim said, adding that the user experience developers can offer messaging and notification functionality within their native UI with a user experience that feels native to their app or platform. Notify will soon launch Notifi Hub, the Web3 inbox to aggregate cross-chain notifications and messaging into one single hub, which is currently in beta, to provide users with a centralized location to track and manage all of their messages and alerts across different blockchains, wallets and dApps. Notifi, a communication infrastructure platform for Web3, said Tuesday it has raised $10 million in an oversubscribed seed funding co-led by previous backers Hashed and Race Capital. Notifi, which launched its SDKs in April this year, has more than 25 customers, including Orca, one of Solana biggest DEXs; Zebec, treasury management for DAOs; SynFutures, Polygon’s largest derivatives protocol; Hyperspace, an NFT marketplace; Realms, Solana’s DAO governance platform, and more, Kim said.
It fitting, then, that Kala was able to raise her first fund as a solo GP focused on early-stage consumer startups in the web3 space in just four months despite a broader downturn in the crypto market. Double Down’s backers include crypto and venture heavyweights such as Chris Dixon and Marc Andreessen of a16z, Paradigm co-funders Matt Huang and Fred Ehrsam, Alexis Ohanian’s VC firm Seven Seven Six, and consumer-focused LPs such as Paris Hilton and Sara Blakeley. Kala’s fundraise is no small feat, especially considering that women are deeply underrepresented in venture capital, not to mention the added challenges that come with raising capital as a first-time fund manager in today’s depressed venture market. Kala says she plans to collaborate with some of the crypto-focused investors who are LPs of her fund on individual deals.
Some games, like Delysium and Ember Sword, were initially developed for the layer-2 blockchain Polygon but switched to Immutable X, the company’s NFT platform and layer-2 scaling solution for the Ethereum blockchain. Today, Immutable X launched GameStop’s NFT marketplace out of beta, which will provide GameStop players and customers across the U.S. access to NFTs tied to games on its layer-2 chain. Earlier this year, Immutable, a web3 gaming firm with its own layer-2 chain, Immutable X, launched a whopping $500 million fund to boost gaming on its platform. This announcement follows GameStop and Immutable X’s partnership and $100 million joint grant fund from February.
In a blog post announcing the new service from Amit Zavery, GM and VP of engineering and platform and James Tromans, director of cloud web3, the two wrote that blockchain nodes have to work hard, constantly exchanging the most recent blockchain data, so that all nodes stay in sync. Google Cloud hopes to make it easier by offering a managed service to handle node creation, while providing a secure development environment in a fully managed product. For starters, the company will support Ethereum blockchain, so developers deploying nodes on Ethereum could do it themselves or pay Google to do much of that work for them. Accordingly, Blockchain Node Engine is focused towards [multiple] developer use cases: smart contract development, reading from and writing to the blockchain, etc.
The program will bring four cohorts per year, each consisting of about eight to 12 teams, or about 30 to 50 founders, to New York City from around the world for eight weeks at a time to focus on building on the Bitcoin-centric Lightning Network and Taro protocol, Kelly Brewster, CEO of Wolf, said to journalist. Asset management firm Stone Ridge has launched a startup accelerator, In Wolf Clothing (Wolf), that will be dedicated to growing Bitcoin-focused applications, the team exclusively told journalist. Separately, Taro is a protocol that launched in April of this year to help issue digital assets on Bitcoin’s blockchain that can then be transferred to Lightning Network instantly in low-fee transactions. NYDIG, a subsidiary of Stone Ridge, is also supporting the accelerator, alongside mentorship and investments from Bitcoin-focused venture capital firms and operating companies.
Whether their app ends up passing the test, developers need to pay validators in Magic Square’s tokens to audit their apps. Validators are the ones who eventually decide what gets to be on Magic Square, and they do so by vetting projects by three criteria — content, security and user experience — not unlike traditional app store inspection. Crypto.com Capital, the VC arm of the namesake crypto exchange, has joined as a strategic investor and will leverage the large pool of projects listed on the exchange to help Magic Square onboard more developers. Founded last year, Magic Square is building an app store that lets developers list projects that are vetted by the community.
Juno – which also counts Sequoia India’s Surge, Dragonfly Capital, Polychain Capital, Consensys Ventures, Balaji Srinivasan, Surojit Chatterjee, Sandeep Nailwal and Ryan Selkis among its backers – has reached $1 billion in annualized transaction volume processing, Varun Deshpande, co-founder and chief executive of Juno, said in an interview. Juno, a startup that provides checking accounts to crypto enthusiasts and allows them to take their paychecks in digital tokens, has raised a new funding round as it expands its offerings to include a tokenized loyalty program. The eponymous platform integrates with all popular payroll platforms in the U.S., making it easier for customers who are long term believers in crypto to keep doubling down on their bets without having to worry about manually moving funds to different exchanges. Tokenized loyalty program Juno, which raised a $3 million seed funding last year, is now ready for a new offering: an optional loyalty program.
More than 10 of the largest projects on Solana are already working on projects that leverage Backpack’s protocol, according to Ferrante. Ferrante’s iPhone analogy seems particularly apt when one considers that as an ecosystem, Solana has chosen to invest in hardware. The Discord community around Backpack has about 2,000 members today, which Ferrante said has been intentionally locked up until today’s announcement that Coral will launch Backpack in private beta and open-source its code, giving members of the Discord priority access. The Backpack wallet, Ferrante said, is like the iPhone’s iOS operating system, where a user can manage their private keys and access xNFTs, which are like the apps on the iPhone. Ferrante said the Coral team is in close contact with the team behind Saga and that he eventually hopes to see xNFTs run as native apps on the smartphone.
The platform is a part of the Startup with Chainlink program and will be working closely with the oracle network to extend the capabilities of smart contracts so blockchain developers can build multi-chain decentralized applications (dApps) alongside analytical insights in a low-cost, decentralized way. Space and Time, a decentralized data platform, has raised $20 million in strategic funding to help businesses grow through smart contract technology. The capital raise was led by Microsoft venture fund M12 and included investors like Framework Ventures, HashKey, SevenX Ventures, Foresight Ventures, Polygon and Avalanche’s ecosystem fund Blizzard, among others. In the near term, Space and Time wants to help web3 dApp developers simplify their data ecosystems and architectures, Holiday said.
While Indonesia isn’t the most crypto active in the region — total crypto value received was less than half of Thailand’s from July 2021 to June 2022, according to Chainalysis — the country is thought to hold huge potential for web3 adoption, thanks to a young and sizable (270 million) population as well as a vibrant Web 2.0 industry. As such, SerMorpheus recently closed a $2.5 million seed round to create a user-friendly platform for businesses to create NFTs; end users, on the other hand, can buy and trade digital assets on the platform with the local currency rupiah. The platform is still manually onboarding businesses and brands — so far 25 of them, including Indonesia Comic-Con — but the next step is to make SerMorpheus as automated as creating a Facebook page. Its seed round was led by Intudo Ventures, with participation from 500 Global, Febe Ventures, AlphaLab Capital, BRI Ventures and Caballeros Capital.
Most tech companies, including Apple and Microsoft, use a similar bug bounty methodology, but the practice was less well employed in web3, in part because hackers can sometimes be far more incentivised to steal the money rather than report the bug, especially when millions of might be dollars might be on offer. So Immunefi developed a bug bounty standard which scales, to encourage projects to pay rewards for big vulnerabilities at a rate equivalent to 10% of the funds at potential risk. Immunefi connects web3 projects that need their code checked and secured with whitehat hackers who report vulnerabilities and claim monetary rewards. It was around this time last year that we reported that Immunefi — one of the emerging bug bounty and security services platforms for DeFi — had raised $5.5 million in funding.
CoinDCX on Friday launched Okto, a mobile platform that will host other decentralized apps and won’t require users to remember the long string of words as their passwords. Okto is aimed at helping the masses get exposure to web3, said Neeraj Khandelwal, co-founder of CoinDCX, in an interview. The startup has started to engage with developers around the world to onboard their apps onto Okto, he said. The new platform will support over 20 chains and more than 100 protocols and absolve all transaction fee across chains, he said.
LongHash Ventures, a web3-focused investment firm and accelerator, has launched its second fund for $100 million and its new accelerator LongHashX
Outside of Miami, Quinn said, RealOpen’s crypto focus has attracted a strong pipeline of listings from sellers all over the world. By using RealScore, buyers can defer converting their crypto into cash until the very instant the transaction closes without having to explain to a seller what the value of their offer is beforehand, according to Dumontet.
Many hacks and bugs in the web3 space occur because the production system is poorly put together due to lack of ability to build in an early-stage environment, Marchetti said. Long term, Kurtosis plans to continue building tools that simplify engineers’ ability to build on web3, Marchetti said.
The new division will be built upon the acquisition of blockchain-based loyalty platform for games WonderBlocks, as well as a strategic alliance with blockchain infrastructure gaming developer Forte.
Pantera Capital led the four year-old startup new financing round with participation from Mayfield, Gaingels, Alchemy Ventures, Redbeard Ventures, Spartan Group, OKG Investments, Polygon, CoinDCX, CoinGecko, We3 syndicate, Rainfall Capital, Broadhaven, EI Ventures, Hardyaka, Alt Tab Capital, Boost VC and Draper Associates. Unstoppable Domains, a popular blockchain naming system provider and identity platform, is the latest crypto startup to become a unicorn. Unstoppable Domains allows people to create their username for crypto and build decentralized digital identities. The platform, which includes members who worked at companies such as Amazon’s AWS, Uber and Slack, mints each decentralized domain name as an NFT on the Ethereum blockchain to give the owner broader control and ownership.
Internet insurance and the web3 world might seem to have little overlap, but Lau’s involvement in art — sitting on the board of Asia-based projects for Tate and Guggenheim Museum — could serve Animoca well as the art industry has been keen to embrace the metaverse and NFTs.
UnCaged Studios, a web3-focused gaming studio, has raised $24 million in a Series A equity funding round to continue growing the crypto gaming industry.
The company just closed a $6.6 million seed round and plans to launch its first web3 gaming world, Project Nightshade, in the fall, Mark Warrick, founder and CEO of the company, exclusively told journalist.
We spoke to a dozen Chinese founders and investors to find out how this group is trying to build global web3 businesses while still keeping their roots in China and taking advantage of the home country’s abundant tech talent
A Cloudflare outage on Tuesday knocked out numerous popular web services, including major crypto exchanges FTX, Bitfinex, and OKX, raising questions about the security of centralized crypto platforms.
Its fund will also collaborate with other web3 gaming and NFT-focused investors including BITKRAFT, Animoca Brands, Arrington Capital, Double Peak, AirTree, King River Capital and GameStop, as well as strategic gaming publishers, for additional investment opportunities. Immutable, an Australia-based web3 gaming firm, launched an inaugural $500 million developer and venture investment fund, Robbie Ferguson, president and co-founder of Immutable.
Who knows whether it FOMO or actual customer demand for such a thing, but Salesforce announced today that it’s launching a pilot of NFT Cloud, a new platform for buying and selling these crypto assets.
Solana Ventures and Solana Foundation have set up a $100 million investment and grant fund to deploy capital into South Korean web3 startups, Johnny Lee, general manager of games at Solana Labs, told journalist.
InfStones, which aims to help clients build applications across a number of blockchain platforms, closed a $66 million round led by SoftBank Vision Fund 2 and GGV Capital, the company announced on Wednesday.
Zhang said she has noticed a growing interest of funds coming into the crypto space or new funds launching to invest in crypto after they saw the potentials of blockchain technology and crypto ecosystem.
This means that GD1 Crypto Fund 1 will not only serve to give New Zealand startups a boost, but also to allow local investors to get involved in overseas startups in the hopes that some of those returns will make it back to the startup ecosystem in New Zealand.
In the world of crypto, where vast amounts of investment are pouring into young and scrappy teams building uncharted technology, it increasingly the VC firms who are investing heavily in research to sweeten their sell to early teams with plenty of offers on the table. On Thursday, venture firm Andreessen Horowitz announced that it was building out a dedicated crypto research team led by faculty from Columbia and Stanford.
CertiK, a web3 and blockchain security company, has raised $88 million in its latest round, bringing its valuation to $2 billion. To date, CertiK has protected over $300 billion worth of crypto assets for 2,500 enterprise clients through its auditing and fraud investigation services, among other offerings, the company stated.
The firm, led by former Tinder product chief Jeff Morris Jr., has shifted from a more generalist vertical interest toward web3 obsession over the past several months, as early bets in crypto startups like Dapper and Compound Finance have taken off.
As proof that web3 is not some passing trend, blockchain infrastructure startup Alchemy announced today that it has closed on a $200 million Series C1 equity round that values the company at $10.2 billion.
Starting on February 17, fans can mint a Cameo Pass for 0.2 ETH — about $550 at the time of publication — which provides access to limited release artworks, exclusive in-person and virtual events and early access to new Cameo features. The collection of NFTs will be hosted on OpenSea, featuring art by Burnt Toast of the Doodles collection, Vinnie Hager of the Letters collection and artist Luke McGarry, who sells personalized artwork through his Cameo. Some creator platforms like YouTube and Patreon have flirted with the idea of NFTs, but Cameo is forging ahead with its plans. But when journalist asked about which celebrities on Cameo were involved in the project, the company did not provide any names.
On-chain funding is not a magic bullet — it is simply the best framework we currently have to align the funding process closer with the mechanisms the developers find most useful while keeping the process open and equitable.
NFT marketplace OpenSea is putting some of its freshly raised funds to good use, buying up crypto wallet startup Dharma Labs, the company announced today.
Crypto.com, a popular cryptocurrency exchange, has extended its venture arm fund size to $500 million as it looks to more aggressively back early-stage startups to help the nascent ecosystem grow, following similar moves by rivals Binance, Coinbase and FTX.
Web3Auth, a non-custodial key infrastructure solution for web3 apps and wallets, wants to solve these problems by leveraging social accounts and devices that mainstream users already own to enable users to manage their keys intuitively.