Search for “what are web wallets” on Google and you’ll get about 2,760,000,000 results.
Fear not: we’re going to make it easy for you. Everything you need to know is right here –particularly if you call yourself a marketer.
We’ll describe what wallets are, how they work, and the different options users have to store their digital assets/funds. If you know all this already, skip to the section on how wallets will shape the future of marketing in web3. Either way, we’ve tried to make it an enjoyable read.
First Things First: An Imperfect Analogy
That object you put in your back pocket or purse, which you call a wallet, has really only one purpose: to make it easy to carry your cash and cards. It’s terribly insecure, horribly limiting in what it can hold, and incapable of evolving in its use cases.
So that Web3 wallets (also called crypto wallets or digital wallets) are called wallets at all is, it can be argued, nothing more than a convenient analogy for “holding something.”
If you want to be generous about it, you could add that it holds something personal.
But that’s where the analogy ends.
A web wallet is actually more like a digital safe deposit box that you don’t need a banker to hold for you. Like a safe deposit box that has two physical keys, a web3 wallet has two digital keys to ensure security (more on that in a moment). Like a safe deposit box, it can hold a lot of stuff: currencies (crypto), art and music (NFTs), identification, contracts, deeds, passkeys, and more. Unlike a safe deposit box, you can access your web3 wallets wherever you are, whenever you want – so long as you have your keys.
Contents
The Technology
- First Things First: An Imperfect Analogy
- Lose the Leather: The Technology Explained
- Why Wallets Run Hot and Cold
- One Last Thing: Yes, Wallets Can Be Particular
The Use Cases of Marketers
- Okay, Enough of the Tech Stuff: What’s So Great About Wallets
- Marketing’s Next Move
The Future
- Lastly: Let’s Get Visionary!
- About Absolute Labs
