Accessibility and user experience have always been significant barriers to mass adoption of decentralized applications, and even with account abstraction, smart contract wallets often face a limitation: asset portability.
Typically, with ERC-4337, assets within a wallet are restricted to a specific application, but Animoca Brands’ latest innovation, the Realm Network, changes that narrative.
Introduction to Realm Network
Animoca Brands, a leader in NFTs and digital ownership, has strategically integrated with Web3Auth’s wallet ecosystem to create the Realm Network.
This dApp network features a native embedded wallet that enables tokens and NFTs to be used seamlessly across the network, a game-changing portability that empowers applications that leverage account abstraction.
What is Realm Network?
Realm Network is an important part of the Moca Network ecosystem and is an interoperable infrastructure layer that connects Web2 and Web3 platforms. It includes a series of dApps in the fields of games, music, sports, intellectual property, education, etc., all of which are in the sharing economy.
With features like Realm Accounts, Realm IDs, and Realm Points, users can access multiple applications with just one smart contract wallet, while decentralized identities (DIDs) manage identity and on-chain reputation tracking.
Case Study: MocaID
MocaID embodies the potential of the Realm Network, with MocaID launching in November 2023 and quickly becoming a growing platform within the Mocaverse partner network, achieving nearly 1.5 million unique on-chain mintings in six months.
With the Animoca Brands ecosystem reaching over 700 million Web2 and Web3 users, the possibilities are endless.
Why Realm Network uses Web3Auth's wallet ecosystem
Developers typically have to sacrifice interoperability in exchange for the usability of account abstraction (AA), and while AA wallets provide convenient access for non-crypto native users, there is still much room for improvement because smart contract wallets cannot be used across applications.
However, thanks to Web3Auth's multi-party computation (MPC), Realm Network changes this by enabling cross-dApp smart account interoperability, allowing users to generate the same wallet address using social logins such as Gmail, thereby achieving seamless asset ownership and credential persistence across multiple domains.
Unique digital identity with wallet ecosystem
With Web3Auth's wallet ecosystem, every Realm Network user can obtain a unique digital identity, the Realm ID, through social login.
Not only does this identity provide privileged access, but it also allows you to accumulate Realm Points (loyalty points), build reputation, and earn assets that can be used in various dApps within the Realm network.
The Realm Network enables new use cases never thought of before, and there are a few game-changing features that make this technology truly powerful:
Portable Identities and Assets: Now, it opens up a whole new permissionless platform for developers to not have to worry about finding qualified users from scratch, all they need to do is integrate Realm ID into their dApp.
Loyalty and Profile Scoring: Decentralized platforms can now leverage existing communities within the network and reward users who engage with them with Realm Points.
Permanence and liquidity of assets: Users will have full control over their Smart Accounts, and they can freely transfer and trade the assets they earn. When the economy in the network circulates freely, it provides a less fragmented experience and unlimited possibilities. For example, there can be a dApp whose output is the input of another dApp, which allows cross-pollination between different members of the ecosystem.
Web3Auth’s wallet ecosystem is more than just a tool, it’s a catalyst for building cohesive communities and composable applications that help unify identities and assets across various blockchain applications.
Web2 Experience on Web3 Applications
In addition to enabling asset portability, Realm Network also prioritizes user accessibility through the MPC Corekit that implements Web3Auth, which allows users to access their wallets through familiar Web2 logins such as Google or Twitter.
By bridging the gap between traditional and decentralized identity authentication methods, Realm Network is able to provide a frictionless onboarding process, lowering barriers to entry and creating a more inclusive web3 experience.
Enhanced user security
In addition to the accessibility benefits, MPC key management also enhances the security of users’ digital assets because access to keys is distributed across multiple parties, reducing the risk of single points of failure and unauthorized access.
This strong security framework enhances user confidence, fosters trust, and encourages greater participation in decentralized applications and financial services.
Web3Auth’s Wallet Ecosystem: A World of Opportunities
The integration of the Web3Auth wallet ecosystem with Realm Network redefines user-friendly applications in web3, not only providing users with a seamless on-chain experience, but also providing huge opportunities for any dApp that wants to connect together the decentralized economies in their ecosystem.
To dive deeper into Realm networking and learn how it works, check out the following documentation.
Visit the Web3Auth wallet ecosystem documentation:
web3auth.io/docs/product/wallet-ecosystems?ref=blog.web3auth.io#create-your-own-wallet-ecosystem
Check out Realm Network:
realm.network
Connect with the Web3Auth team via Discord:
discord.com/invite/web3auth
For more information about Web3Auth, read:
Launch of NFT Services: Simplify the NFT purchasing process, making it more user-friendly and easy to integrate
#Web3Auth #Mocaverse #MocaID #RealmNetwork
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