Users gain control over digital assets and NFTs with Microsoft’s new Web3 wallet, now in testing phase.
Microsoft is working on the creation and release of a Web3 wallet, based on Ethereum, which will run in its leading browser, allowing users to send and receive digital assets and NFT.
The wallet is currently in a limited testing phase and is not yet available to the public.
It was first reported by Microsoft technician Albacore, who shared some screenshots of the wallet on Twitter. Based on these, Microsoft is asking “testers”, via its Edge browser, to put in their own assets.
“We encourage you to try our first Web3 wallet and provide honest feedback along the way,” Microsoft said in one of the screenshots and added: “As early testers, you have a unique opportunity to shape our cryptocurrency and NFT presence.”
The wallet operates without supervision, meaning users have complete control over their funds and the tech giant will not have access to passwords or recovery keys. The wallet creates an Ethereum address that allows users to receive funds through the Ethereum network.
Users can also manage multiple Ethereum accounts and choose between the built-in Edge wallet or another extension.
Microsoft has partnered with Consensys to provide the exchange capability, supporting ETH, DAI, UNI, USDC and USDT, according to Bleeping Computer. It remains to be seen if Microsoft will add support for other digital assets in the future.
According to Albacore, the wallet may be released soon:
“Enabling the cryptocurrency wallet ended up being a less complicated process than I expected, so I think the release may not be far off,” he told Blockworks.
According to the screenshots, the beta version of the wallet also features a news section for monitoring industry developments, which includes the ability to connect to decentralized applications.
Microsoft’s Web3 wallet is also an attempt by the tech giant to gain the upper hand over its competitor, Google Chrome.
While the cryptocurrency wallet, Edge, is still in its testing phase, it could be a major development for Microsoft as it allows users to send and receive cryptocurrencies easily without installing additional extensions or apps.
Undoubtedly the emergence of Web3 technologies by companies with, so far, Web2 infrastructures, proves that they are looking for ways to integrate these decentralized solutions into their platforms.
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