Blockchain startup Vault announced its launch on September 13, and gave away free crypto collectibles to select individuals who would install its wallet.
“Nothing Out There Was Fun”
The announcement, made through a blog update, said that as for now, it will be focusing on decentralized applications (DApps) and crypto collectibles, instead of the typical crypto trading apps and wallets—we certainly have a lot of those floating around the crypto space.
John Egan, CEO and Co-Founder of the said startup, said in the blog post that Vault can allow users to now have a quick and easy way to discover and interact with web3 applications, as well as to flaunt their crypto collectible collection to their peers, not to mention having the ability to manage their contacts via the app.
“Cole [Potrocky, Vault CTO and Co-Founder], Zac [Morris, Vault CSO and Co-Founder], and I weren’t happy with the options for mobile wallets that we saw when we tried to tell our friends about the exciting future that these DApps could provide, and we didn’t could provide, and we didn’t feel like anything in the market really captured the magic of the wallet and collectible ownership. Nothing out there was fun.”
Vault will give away free crypto collectibles to users who would be fortunate enough to be selected by the system upon the creation of their wallet, courtesy of its partnerships with DApps like Cryptostrikers, Crypto Space Commander, and MLB Crypto Baseball, Vault.
If you’re guessing what a crypto collectible might be, you’re probably right—these are cryptographically unique digital assets that are “non-fungible.” Unlike cryptocurrencies, which are designed to be identical, crypto collectible tokens are either uniquely designed or are limited in quantity.
According to Decentraland, these are typically visualized as real-life objects like pets or avatars. Each varies in specific attributes, and there are also limits to the number of tokens that can be generated.
Only Scratching The Surface
Vault runs on the Ethereum network, which Egan says to have “fundamentally lowered the barrier” for virtually anybody who plans to create new applications or innovations within the class of trustworthy and financially-involved apps.
“DApp builders up until today have only just scratched the surface of what can be built,” said Egan. “And by working to provide a reactive, friendly interface, we hope to bring more users and thus more developers, to this ecosystem.”
Vault will release a series of blog posts throughout next week to provide a more comprehensive description of each of its functions.
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