Magic provides an SDK that enables companies to create web3 wallets using web2 login methods, eliminating the need for seed phrases and browser extensions. This solution simplifies user onboarding and enhances conversion rates by allowing instant access to blockchain services with enterprise-grade security.
Funding
$82.9M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
+7Founders
Product
Problem
Web3 applications often require users to manage seed phrases or browser extensions, creating friction during onboarding and hindering adoption. These traditional wallet management methods can be cumbersome and pose security risks for mainstream users.
Solution
Magic provides a platform for building web3 wallets using familiar Web2 login methods, such as email or social accounts, thereby eliminating the need for seed phrases and browser extensions. This approach simplifies user onboarding by enabling instant access to blockchain services. Magic offers both embedded wallets and API wallets, along with Passport, a chain-abstracted smart wallet, allowing developers to build across multiple chains with a single integration. The platform focuses on secure scalability and performance, adhering to compliance standards like SOC 2 Type II, CCPA, GDPR, HIPAA, and ISO.
Target Audience
The primary target audience includes Web3 developers building DeFi, NFT, gaming, and other decentralized applications who want to streamline user onboarding and enhance security.
Features
- Web2-style authentication (email, social login) for web3 wallets
- Embedded and API wallet options for flexible integration
- Passport: Chain-abstracted smart wallet for cross-chain development
- SDK for quick integration into existing codebases
- Support for fast, cross-chain user liquidity
- Compliance with SOC 2 Type II, CCPA, GDPR, HIPAA, and ISO standards