Mark Weaden
Blockchain giant ConsenSys announced the rapid growth of MetaMask as it reached this impressive milestone.
MetaMask now stands as the top choice for many users looking to store digital assets, notably in the Philippines where some 20% of the total active users reside. This year has been huge for crypto-based products and compared to last year, MetaMask has almost a 20% increase in users compared to 2020.
What does MetaMask offer?
As both a mobile app and browser extension, users are able to access the MetaMask digital wallet which is based on the Ethereum blockchain on any Ethereum compatible network. It’s not a secret that the success of MetaMask is in some way linked to the growth of the Ethereum Ecosystem, which is currently hovering around the $4,000 mark.
MetaMask now offers the primary avenue for users to interact with the Ethereum ecosystem for a global user base. As the number of new DeFi applications continues to soar, MetaMask continues to see new sign-ups. The company now boasts some 17,000 unique Web3 domains, including apps like OpenSea supporting the thriving NFT marketplace.
The new digital landscape is being shaped by the NFT industry, which is largely based on the Ethereum blockchain—as well as the Solana (SOL) blockchain, which has seen the biggest gains since the markets became hot again last month. Crypto enthusiasts can now play NFT-based online video games that offer users the chance to earn cryptocurrency tokens from successful gaming.
But, it’s not just the industry that has contributed to the success of MetaMask. In September 2020 the mobile app was launched, which has been integral to the growth in the number of users. Then, in March 2021, the app opened up for token swaps, defining a new kind of cryptocurrency wallet.
These are the kinds of apps that are going to push crypto into the mainstream. A service that is safer, more accessible and simplistic is exactly what the industry needs. This is something that seems to have appealed to the Asian market, as we see the Philippines, Vietnam, China, India, and Indonesia as the biggest users of MetaMask on the continent.
The times are very exciting right now, not just for MetaMask but the industry in general. While the industry is still taking shape, we are starting to see a map of how things are going to evolve.
