Tag Archives: Web3

News

Account Labs Raises $7.7 Million for UniPass Wallet Launch on Polygon

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Account Labs, a company focused on Web3 wallet solutions and cryptocurrency, has successfully raised USD$7.7 million from prominent investors like Amber Group, MixMarvel DAO Ventures, and Qiming Ventures. This development coincides with the launch of their consumer-centric app, the UniPass wallet. UniPass Wallet is hosted on Polygon, an Ethereum layer-2 scaling solution.

The UniPass wallet harnesses the power of account abstraction, allowing you to set up and access your self-custody Web3 wallet with astonishing ease. Imagine, you can create and log in to your Web3 wallet using just your Google account. Top it up using your Mastercard or Visa, and voilà, you’re in the world of frictionless crypto finance.

UniPass Logo on Black
Source: AccountLabs

Account Labs has chosen to focus on Southeast Asia, a region ripe for Web3 adoption. The UniPass wallet is making its debut in the Philippines, with rapid expansion on the horizon, targeting countries like Vietnam, Malaysia, and Indonesia. The best part? It’s open to anyone globally, with a no KYC (know your customer) approach, in the true spirit of decentralized finance.

But what exactly is account abstraction? In simple terms, it allows developers to infuse more functionality directly into wallets, even smart contracts. This streamlines cross-chain transactions, removing operational complexities that users shouldn’t have to deal with. It’s like Venmo or Touch N’ Go eWallet for cryptocurrencies, making transactions a breeze.

UniPass is all about simplicity. Say goodbye to the cumbersome 12-word seed phrases. Now, you can log in using your Google account, no prior Web3 knowledge is required. Top up your wallet directly with cards, Apple Pay, or GCash (in the Philippines). With transaction fees paid in stablecoins, costs can be as low as USD$0.01 or USD$0.02 a transaction.

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Source: AccountLabs

Account Labs places its faith in stablecoins as a gateway to mass crypto adoption. Unlike volatile cryptocurrencies, stablecoins are backed by Fiat currencies, making them comprehensible and trustworthy. They’ve already gained significant traction, rivalling even Visa in settlement value.

While UniPass offers a user-friendly experience, it doesn’t compromise on security. It’s a self-custody wallet, meaning you retain full control of your funds in a decentralized, trustless environment. As a peer-to-peer platform, it eliminates intermediaries, reducing fees and speeding up cross-border transactions.

UniPass App 1
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The Ethereum Foundation is also a believer in this technology. In fact, they have awarded UniPass a grant for its work in developing account abstraction. Tom Teman, Product Manager at Ethereum Foundation, remarked, “We’re thrilled to support the UniPass team in the Ethereum Foundation’s recent Account Abstraction grant round, as they will help onboard the next 1 billion users to Ethereum with innovative UX.”

The UniPass wallet is all set to debut on Polygon, initially available on Android, with iOS support soon to follow. Additionally, plans are in place to expand to Apple ID and other social media logins.

News

Pudgy Penguins Is Blurring the Lines Between Digital Assets & Tangible Economic Opportunities

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Pudgy Penguins is the latest hit in the NFT world. It’s closing the gap between digital collection and real-world business. It’s blending the tangible and intangible, making it more accessible and easier to monetize. They’ve created opportunities for NFT holders to get a tangible slice of physical merchandise sales bridging Web3 communities and technologies with the real world.

Pudgy Penguin & NFTs

NFT or Non-Fungible Tokens are digital assets that prove ownership through a publicly viewable ledger called a Blockchain.

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So how does this relate to the Pudgy Penguins? These Pudgy Penguins are 8,888 unique collectable Penguins that are linked to the Ethereum Blockchain. Each Penguin design comes with a unique identifier that is publicly listed in the Ethereum Blockchain and can be traced to the original artist. Using this, the company creates physical merchandise with the designs that are on the blockchain and the artists are paid royalties on their designs.

Backed by MDEC (Malaysia Digital Economy Corporation) and Asia Huddle PLT, these waddling birds are officially making their Malaysian debut. You will start seeing Pudgy Penguins soft toys and collectables in retail stores such as FamilyMart, myNews, Bila Bila Mart, emart24 and CU Malaysia across the country. In conjunction with the launch, there will be a special three-day event called “Pudgy Boleh” which will showcase their journey from digital animations to toys and collectables.

Tangible Economic Opportunities from the Blockchain

Pudgy Penguins looks to unlock more economic opportunities through its Web3 ecosystem. This comes on the heels of a successful foray into the United States which proves that blockchain innovation can be blended into tangible business opportunities.  

With their launch in Malaysia, the company coordinated a special three-day event called “Pudgy Boleh” to showcase their works from digital photos to live cuddly toys.

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Cheryl Law, the Pudgy Penguins Business Development Lead of Asia, sees a great future for the company to grow and have a positive impact on Malaysian Businesses and companies. The sentiment is shared by CEO, Luca Netz. Luca believes that everyone should be able to have a bridge between real life and their digital presence. Using these commodities, everyone can contribute to Malaysians’ economic landscape through inclusivity and art.