Announcing our partnership with OpenSea to unlock a new wave of crypto adoption
Jan 9, 2024
Today, we are thrilled to announce Privy will be working with OpenSea to support onboarding for the OpenSea marketplace! As the world’s largest NFT marketplace, OpenSea’s initiative to onboard new users into the wallet experience is a major step in opening up web3 to mainstream audiences and making our space more accessible to everyone. We’re excited to work with them to enable this.
Since its founding, OpenSea has consistently set the standard for user experiences across web3. As the first major marketplace for NFTs, they have helped shape the growth of the digital collectibles market and the UX of buying and selling NFTs. With this partnership, we are excited to help catalyze new consumer experiences on the web.
Today’s wallet launch is one of OpenSea’s most important steps in expanding the digital collectibles market. Historically, using OpenSea as a newcomer to crypto meant downloading an external wallet extension, securing 12 recovery words, and moving back and forth between the extension and OpenSea to navigate self-custody.
OpenSea’s revamped onboarding flow makes OpenSea more accessible to all users. Web3 newcomers can now sign in with email login - powered by Privy - and purchase crypto or NFTs directly with their credit cards. Under the hood, users get a secure self-custodial wallet capable of performing all the core onchain actions a consumer wallet can. This will unlock access to onchain infrastructure and digital ownership to new users and can serve as their springboard into crypto and the web3 world beyond.
At Privy, we believe that wallet experiences shouldn’t be one-size-fits-all. Apps should allow users to onboard in the way that’s most likely to drive activation, and then allow them to progressively upgrade as they get deeper in the product journey.
OpenSea’s new launch is a great demonstration of these principles in action:
Serve Natives and Newcomers: Users get the upfront choice of signing in via either email login or external wallets.
Progressive Defenses: Embedded wallet users can layer on MFA for every transaction and more robust defenses as their NFTs grow.
Upgrade Paths: Embedded wallet users can choose to export their NFTs and crypto to other wallets at any time.
Over the years, OpenSea has been many users’ first foray into NFTs, including many on our team. Together, we are working to ease users’ first web3 experience. This is just the beginning: we will be pushing a roadmap with more upcoming launches together, from social logins to embedded wallet interoperability.