A new Crypto wallet is about to be introduced to iOS users on Apple’s App Store.
The App, which is owned by a Crypto wallet startup known as Vault, would store non-fungible tokens and other crypto collectibles; this is according to its co-founder, John Egan.
Speaking to CoinDesk, John said, Vault’s aims is to make it easier for new users, who are not familiar with blockchain to purchase these collectibles and hold on to them.
While adding that, Vault’s new app would be very different from other apps, he said, it is user friendly and focuses more on its users, rather than make it look like it is a for-profit app, like other wallets and apps, that focuses on developers alone.
“The motivation here is no one wants to build in an ecosystem that customers can’t get access to, so it’s really important to build those on-ramps … [Vault] doesn’t present them with a lot of technical information, just gives them a way to start using [dapps],” Egan said.
Moreover, Vault will not list token prices or enable the trading of tokens, he said, adding that, “you can kind of see it in the [user interface] … the application doesn’t attempt to encourage this idea of profit-seeking, it encourages this idea of holding things because you believe it has intrinsic value,” he said.
He likened his vision for Vault to Apple’s iOS, noting that while developers could already create apps for smartphones, introducing an ecosystem that made it easy to share and use apps spurred adoption.
“Our desire is to be the most used crypto wallet and sort of knock down barriers in terms of getting into the space,” he said. “I think collectibles have the best chance of bringing us out of the early adopter phase and moving into mainstream use, because most people are excited about these games.”
As part of its interface, users can add friends as contacts, negating the need to memorize or share complicated wallet addresses.
“We’re not a trading desk, we’re not a Coinbase, we’re not a Gemini, we’re trying to be a utility. I think if we’re successful long-term, you’ll begin to see this ecosystem flourish like you saw the web flourish,” he concluded.