• Tribes Group web3 wallet raises $3.3m in funding.
• The newly-launched web3 native social wallet aims to make “these powerful and newly-possible web3 actions understandable and accessible to the masses.”
• Crypto wallets are focusing on developing social wallets to support creators and ease the transfer of crypto and tokens.
Tribes Group, a web3 native social wallet, recently announced that it has successfully closed a pre-seed funding round, in which it raised $3.3 million. This funding round was led by Kindred Ventures, Script Capital, and South Park Commons.
Tribes Group wallet is designed to make “these powerful and newly-possible web3 actions understandable and accessible to the masses.” Web3 technology has been growing and gaining more attention, but many users are still unfamiliar with the existing products and processes required to use it. The Tribes Group wallet seeks to bridge that gap by allowing users to co-own and manage digital assets, as well as communicate directly through the wallet.
The crypto wallet space has been evolving, with a 6% rise in usage in 2022, reaching 85 million users. In addition to the new wallets that have been developed, many companies are focusing on creating social wallets that support creators and make it easier to transfer crypto and tokens. Easy Company recently raised $14.2 million for a new crypto wallet.
Tribes Group wallet hopes to bring even more users into the web3 space, and make the powerful web3 actions accessible to the masses. The company aims to create a safe and easy-to-use platform for users to manage their digital assets and collaborate with others. With the newly-raised funds, Tribes Group is well-positioned to make an impact in the crypto wallet space.