American technology multinational Microsoft is testing a Web3 wallet compatible with cryptocurrencies, NFTs and DApps in its Chromium-based Edge web browser.
Software researcher Albacore has revealed Microsoft's plans to build a Web3 wallet compatible with its Edge web browser. According to the researcher, the crypto wallet will be integrated into the web browser in version 11 of its Windows operating system.
Albacore has filtered out information about the ongoing work of the technology company, showing that Web3 wallet will be non-custodial and will provide exclusive control of assets to its users.
Microsoft's Web3 wallet also will support multiple digital assets, including cryptocurrencies and non-fungible tokens or NFTs.
In addition to this, the software researcher also revealed that the tech company's crypto wallet will allow users to navigate the decentralized finance ecosystem built on the blockchain, Connecting with decentralized applications (DApps) and other Ethereum protocols.
Source: Albacore
With this development, it seems that Microsoft wants to take advantage of the growing interest in Web3 and catch up with several of its competitors. Web browsers such as Brave and Opera are already integrated with blockchain, offering native support for crypto assets, DApps, and other DeFi protocols, such as DEXs and Web3 games.
On its home screen, Microsoft assures that its new digital wallet is designed to facilitate simplified experiences for users, allowing connection and interaction with the decentralized ecosystem of the blockchain.
Microsoft breaks into cryptocurrencies and NFTs
Microsoft's Web3 wallet is not yet available to the public. However, the company is conducting internal tests with a number of selected users, who are invited to use the cryptocurrency wallet and leave their impressions and opinions about it.
By supporting Edge, Microsoft ensures that users can try out its Web3 wallet without having to install any extensions. In addition, the company highlights that it is a non-custodial digital wallet, so it will not have access to users' keys and passwords or their recovery keys. Control of funds and assets is in the hands of users, Microsoft added.
To start testing, the company asks for the creation of a username and password. Once configured, users will be able to Acquire and manage cryptocurrencies, follow crypto asset trends and prices in the market, explore and connect with DApps and NFT markets, Among other functions.
Also, one of the sections of the Web3 wallet allows users to access publications and news related to the world of cryptocurrencies.
Microsoft has been making some major moves in the Web3 space over the past year. In September of last year, the company participated in a $20 million funding round from Space and Time, a Web3 automation company.
Through its investment arm M12, Microsoft has joined forces with leading crypto industry projects, such as Avalanche and Polygon Network, to create the Space and Time funding fund to help companies advance in their digital transformation and evolution.
Microsoft is also part of the “Startup with Chainlink” program from Chainlink, one of the most important blockchain oracle networks in the crypto ecosystem.
Continue reading: Microsoft seeks entry into Web3 with Space and Time
