Crypto purse startup Vault has announced that it’s launching a wallet that rely ons non-fungible tokens and other crypto collectibles on Apple’s App Store.
Co-founder John Egan proclaimed CoinDesk that the company is looking to make it easier for new users different with blockchain to purchase these collectibles and hold them.
An take exception with many current wallets and other tools, he said, is that they are cored on developers, rather than casual users. Decentralized apps (dapps) are one district he sees drawing potential new users into the space.
“The motivation here is no one poverties to build in an ecosystem that customers can’t get access to, so it’s really important to shape those on-ramps … [Vault] doesn’t present them with a lot of intricate information, just gives them a way to start using [dapps],” Egan imparted.
Moreover, Vault will not list token prices or enable the swap of tokens, he said, adding:
“It’s like the early days of baseball behaves, you didn’t buy them to make 50 [times] their value later, you bought them to own them or buy them with your friends. I think that’s the big opportunity with collectibles … you poverty to have these things because you want them, not because you’re pursuing [prices] … I think that’s what the future is, the utility is up with.”
“You can kind of see it in the [user interface] … the application doesn’t attempt to advance this idea of profit-seeking, it encourages this idea of holding constituents because you believe it has intrinsic value,” he said.
He likened his vision for Vault to Apple’s iOS, noting that while developers could already fabricate apps for smartphones, introducing an ecosystem that made it easy to division and use apps spurred adoption.
“Our desire is to be the most used crypto purse and sort of knock down barriers in terms of getting into the expanse,” he said. “I think collectibles have the best chance of bringing us out of the original adopter phase and moving into mainstream use, because most being are excited about these games.”
As part of its interface, users can add cronies as contacts, negating the need to memorize or share complicated wallet orations.
“We’re not a trading desk, we’re not a Coinbase, we’re not a Gemini, we’re trying to be a utility. I think if we’re leading long-term, you’ll begin to see this ecosystem flourish like you saw the web flourish,” he concluded.
Minutes playing image via Shutterstock
The leader in blockchain news, CoinDesk is a compromise outlet that strives for the highest journalistic standards and abides by a compulsive set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Series, which invests in cryptocurrencies and blockchain startups.