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Accessibility and user experience have been significant barriers to the mass adoption of decentralized apps. Even with account abstraction, smart contract wallets often face a limitation: asset portability. Typically, with ERC-4337, assets inside the wallet are confined within one specific application. But Animoca Brands' latest innovation, the Realm Network, changes that narrative.
Introducing Realm Network
Animoca Brands, a leader in NFTs and digital ownership, has strategically integrated Web3Auth's Wallet Ecosystem to create the Realm Network. This network of dApps features native embedded wallets, enabling tokens and NFTs to be used across the network seamlessly. This game-changing portability enhances applications that utilize account abstraction.
What is Realm Network?
Realm Network is a crucial part of the Moca Network ecosystem, serving as an interoperable infrastructure layer that bridges Web2 and Web3 platforms. It includes a collection of dApps across gaming, music, sports, IP, education, and more, all within a shared economy. With features like Realm Account, Realm ID, and Realm Points, users can access multiple applications using just one smart contract wallet, while Decentralized Identifiers (DID) manage identity and on-chain reputation tracking.
Case study: MocaID
MocaID exemplifies the potential of Realm Network. Launched in November 2023, MocaID has quickly become a growth platform within the Mocaverse Partner Network, achieving nearly 1.5 million unique on-chain mints 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 often have to sacrifice interoperability for usability with account abstraction (AA). While AA wallets provide ease of access for non-crypto-native users, there is still much to improve, as smart contract wallets cannot be used across applications.
However, Realm Network changes this by enabling smart account interoperability across dApps, thanks to Web3Auth’s Multi-Party Computation (MPC). Users can generate the same wallet address using social logins like Gmail, allowing for seamless asset ownership and credential persistence across multiple realms.
Unique Digital Identity with Wallet Ecosystem
With Web3Auth’s Wallet Ecosystem, each Realm Network user gains access to a unique digital identity, known as Realm ID, through social login. The identity not only offers privileged access, but also accumulates Realm points (loyalty points), builds reputation, and earned assets that can be used across the universe of dApps within the Realm network.
New use cases that were never thought of before are possible with Realm Network, and there are a few disruptive unlocks that make this technology truly powerful:
- Portable identities and assets—Now, it opens up a whole new permissionless playground for builders without having to worry about starting from scratch when it comes to finding qualified users. All they need to do is integrate Realm ID into their dApp.
- Loyalty and profile scoring - Decentralized platforms can now leverage existing communities in the network and reward users with Realm points for interacting with them.
- Asset permanence and fluidity - Users will have total control of their smart accounts, and they can move and trade their earned assets freely. When the economy in the network circulates freely, it gives a less fragmented experience and endless possibilities. For instance, there can be a dApp whose output is an input to another dApp. It allows for cross-pollination among different members of the ecosystem.
The Wallet Ecosystem by Web3Auth is not just a tool; it’s a catalyst for building cohesive communities and composable applications. It helps unify identities and assets across a variety of blockchain applications.
Web2 Experience on Web3 Applications
In addition to enabling asset portability, Realm Network has prioritized user accessibility through the implementation of Web3Auth's MPC Corekit. Corekit allows users to access their wallet through familiar Web2 sign-ins, such as Google or Twitter. By bridging the gap between traditional and decentralized authentication methods, Realm Network is able to provide a smooth onboarding process, lowering barriers to entry and creating a more inclusive web3 experience.
Enhanced Security for Users
Beyond its accessibility benefits, MPC Key Management also enhances the security of users' digital assets because the access to the key is distributed across multiple parties, mitigating the risk of single points of failure and unauthorized access. This robust security framework instills confidence in users, bolstering trust and encouraging greater engagement with decentralized applications and financial services.
Web3Auth's Wallet Ecosystem: A Universe of Opportunities
The integration of Web3Auth’s Wallet Ecosystem with the Realm Network has redefined user-friendly applications in web3. It’s not just about a seamless on-chain experience for the users, but it also presents a goldmine of opportunities to any dApps that will want to connect the fragmented economy of their ecosystem together.
To dive deeper into the Realm Network and learn how it works, check out these links:
- Visit the Web3Auth Wallet Ecosystem Docs
- Check out Realm Network
- Connect with Web3Auth team via Discord or schedule a call
