You can log in with your SNS account
On the 28th, Nextmerge Inc. released the beta version of its Web3 wallet “TIPWAVE” for users with X (formerly Twitter) or Discord accounts.
Traditionally, using crypto assets (virtual currency) and NFTs requires a certain level of blockchain knowledge, such as creating a wallet, managing private keys, selecting a blockchain such as Ethereum or Polygon, and preparing tokens for gas payment. It was getting worse. However, “TIPWAVE” has a function that eliminates these hassles.
One of the features of “TIPWAVE” is that users can open a “non-custodial wallet” linked to their SNS account. With non-custodial wallets, users manage their own private keys and they are not stored in Nextmerge’s database, so they can be used without depositing assets. This wallet is created based on a technology called “Account Abstraction” in conjunction with SNS login information.
What is Account Abstraction?
Commonly known as a “smart account,” this technology goes beyond simple remittance transfers and enables more advanced processing and conditional wallet operations. This allows users to use a variety of authentication methods, such as multi-factor authentication and only approving transactions if certain conditions are met.
▶️Virtual currency glossary
Another noteworthy feature is the ability to send tokens directly to SNS accounts, eliminating the need for the recipient to prepare or install a wallet. This eliminates the hurdles faced by general users when starting to use the service.
It also has great marketing benefits, such as distributing NFTs to people who retweet on X (formerly Twitter) and distributing rewards for reactions on Discord. The supported token standards are ERC721, ERC1155 format NFT, and ERC20 format virtual currency.
Additionally, with TIPWAVE, you can pay for gas with JPYC or a credit card, which saves you the hassle of preparing virtual currencies such as Ethereum (ETH) and Polygon (MATIC).
connection:Ethereum implements “smart account”, expected to improve wallet usability
What is Nextmerge?
Nextmerge Co., Ltd. is a startup company in Tokyo. The aim is to make blockchain technology more familiar and allow economic activities to be handled using “common standards.”
Please note that TIPWAVE is in beta, and it is recommended that you do not use high-value NFTs or virtual currencies that can be used as assets. Additionally, in order to deal with the risk of SNS accounts being frozen or hijacked, as of September 2023, Nextmerge is aiming to adjust the security level by linking multiple accounts such as Google accounts and using new signature methods such as smartphone PIN codes.
connection:Web3 wallet created from My Number Card, “Myna Wallet” selected as Ethereum Foundation supporter