Consensys Enhances MetaMask via Web3Auth Acquisition

Blockchain software firm Consensys has acquired Web3Auth to enhance MetaMask's user experience. This move addresses the challenge of seed phrase management, especially since 35% of users don't back them up. Through this acquisition, MetaMask will support easier wallet creation using familiar web2 logins, reducing risks of losing funds. Additionally, it speeds up support for non-EVM chains like Solana and Bitcoin, facilitating seamless cross-chain transactions. For developers, the integration allows embedding wallet SDKs for smoother onboarding and aims to bring web3 to a broader audience. Consensys co-founder and CEO, Joseph Lubin, emphasized the goal of making web3 widely accessible through this integration. Web3Auth supports nearly 50 million users and enhances the web3 ecosystem with secure authentication, now integrating with MetaMask. The rollout of MetaMask's Web3Auth integration will occur in phases, beginning with developer tools. Consensys also continues to grow globally, leveraging Web3Auth's presence in Asia. This strategic acquisition is part of a broader effort by Consensys to expand its influence and capabilities globally in the web3 arena.