What is Privy? Privy is a project that stands on the role of connecting Web2 and Web3 easily and conveniently. It can be said that Web3’s UI UX is a big problem when users migrate from Web2. So whether there is a comprehensive solution for this or not, everyone will learn about Privy in the article below.
To better understand Privy, people can refer to some of the articles below:
- What is Web3? Advantages & Disadvantages of Web3
Privy Overview
What is Privy?
Today, Web2 users are increasingly realizing what they have to trade when participating in Social Web2 platforms such as Facebook, Youtube, Twitter,… which is their personal information. In a context where personal information is becoming increasingly important, users need more solutions on this issue. How to participate in social networks and keep information secure? The answer is Social Web3, but Social Web3 is too complicated, confusing and difficult to use.
That is the reason Privy was born. Privy is a comprehensive solution, it not only applies to Social platforms but also Finance platforms. A basic visualization of how Privy supports Web3 projects is as follows:
- Users can log in to Web3’s app using their cryptocurrency wallet, email address, phone number, or even social profile (e.g. Twitter or Discord). Users do not need to have a wallet to explore Web3 products.
- The Refferal solution helps the platform expand strongly thanks to the sharing and introduction of its own users.
- Allows users to link all Web2 accounts under one account.
For users who do not have a wallet, Privy will be responsible for guiding users and connecting it to applications of Web3 projects easily and conveniently.
Projects can now easily integrate Privy’s toolkit.
Privy’s infrastructure is currently processing millions of transactions per month, with more than 10 billion RPC requests in just the last two months (as of November 2023). Privy has introduced more than one million users to products on Blockchain, from diverse sectors.
Development Roadmap
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Investor
- April 20, 2023: Privy successfully raised $8.3M in Seed round led by BlueYard Capital and Sequoia Capital and with participation from Archetype.
- November 21, 2023: Privy continues to successfully call for $18M in Series A round with the lead of Paradigm and investment funds from the Seed round such as BlueYard Capital, Sequoia Capital, Archetype. Besides, there are many individuals also investing in Privy such as Dan Romero – Co Founder of Farcaster, Ben Leventhal, Justin Waldon, Linda Xie, James Prestwich, Tarun Chitra,…
Core Team
Privy is a team with five core centers in New York City.
Tokenomics
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Exchanges
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Project Information Channel
Summary
Privy is an important project in bringing the infrastructure that plays a key role in bringing Web2 and Web3 together.
Hopefully through this article everyone can understand more about what Privy is?
