Bankless Introducing Rainbow Wallet Browser Extension With Mike Demarais
Oct 11, 2023
Mike Demarais, co-founder of Rainbow Wallet, shares insights about their innovative browser extension designed to simplify wallet management in the crypto space. He discusses the integration of NFTs and the focus on user-friendly design, emphasizing seamless network switching and cross-chain swaps. Mike also covers future enhancements, including a new NFT section and the significance of accessibility in Web3. His reflections on the journey from a personal project to a widely used tool underscore the evolving needs of cryptocurrency users.
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Early NFT Focus
- Rainbow Wallet prioritizes NFTs as first-class citizens, unlike other wallets in 2019.
- This was driven by the thesis that ERC standards are the developer platform, making NFT support crucial for wallet interoperability.
Investor Skepticism on NFTs
- During their seed round, investors questioned Rainbow's emphasis on NFTs due to the limited NFT landscape in 2019, primarily CryptoKitties.
- Rainbow's founders believed in the potential of NFTs and their future importance for users.
Whale Wallet Management Pain Points
- Whales, managing 50+ wallets, struggle with wallet organization and quick switching.
- Rainbow addresses this with draggable wallet reordering, name search, and a keyboard-driven magic menu.