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Brave Browser Launches Built-In Crypto Wallet
The crypto-centric browser company is angling to capture some of MetaMask’s market share.
By Danny Nelson
Updated May 11, 2023, 7:09 p.m. Published Nov 16, 2021, 4:59 p.m.
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Brave browser now has a built-in crypto wallet.
Included in a Tuesday update, the native wallet deepens Brave’s foray into crypto self-custody after years of relegating that to third-party wallet extensions like MetaMask. CoinDesk tested a beta version of the wallet on Sunday night.
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Brave Wallet allows for token purchases through Wyre, tracks portfolio performance, swaps a wide range of tokens and stores non-fungible tokens (NFT). It is self-custody, meaning wallet users hold their private keys. It supports all Ethereum Virtual Machine-compatible tokens, Brave said.
Adding a native wallet is an obvious play for crypto-conscious Brave Software, Inc., which says it has 42 million monthly active users. The browser markets itself to crypto users and companies – the homepage links to four exchanges – and its signature BAT token rewards program splits a fraction of digital advertising revenue with users.
Hosting a trade function opens new revenue streams for Brave. It plans to take 0.875% of all token swaps initiated through the wallet interface, matching MetaMask’s swap fee, a spokesperson told CoinDesk.
Read more: Brave Launches Privacy-Preserving Search Engine in Beta
An open-source offshoot of Google’s Chromium, Brave is treating its new wallet with the same “open web” zeal. A press release said Brave Wallet carries an open MPL license. Effectively, that means developers can view the wallet’s source code and iterate on it.
Open-sourcing places Brave Wallet at odds with a soon-to-be competitor: the Solana ecosystem’s Phantom wallet. That top project – it services the vast majority of Solana network coins – keeps its code under wraps. Brave plans to add Solana support in early 2022.
Until then, the wallet is limiting itself to Ethereum layer 2 companion systems and EVM-compatible chains like Binance Smart Chain, Avalanche and others.
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Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.
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Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.
The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.
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Circle faces first major 'threat' for institutional dollars from Tether’s USAT
While Circle's USDC has operated without a "credible domestic competitor," Tether's USAT has the potential to shake up the landscape, analysts said.
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- Analysts said USAT, the U.S.-focused stablecoin by Tether, could become the first credible domestic competitor to Circle's USDC token.
- USAT is "a threat to USDC" and could gain an edge through institutional partners and global USDT connectivity, Crypto is Macro Now's Noelle Acheson said.
- ClearStreet's Owen Lau called USAT “a manageable risk” for Circle, and noted potential "cannibalization" risk between Tether's two tokens.
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