Solvo pivots from crypto investment app to Web3 gaming wallet

25.07.2023 - 13:11 / venturebeat.com

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London-based custodial crypto investment app Solvo announced that it is pivoting to Qubit, a new venture aimed at making Web3 more accessible to gamers.

Qubit’s first product, the Qubit wallet, is a smart contract wallet designed for gamers to seamlessly play Web3 games, hold self-custody of their digital assets, and make in-game purchases. Qubit’s founders believe that the Qubit wallet is the missing piece to bring new gamers and game studios into Web3.

The gamer-friendly wallet comes with gaming and security-oriented features, including an onboarding process, an “intuitive user interface,” and the ability to sign up and recover your account with phone or email. It offers a social login, account recovery, and easy self-custody to help web3 games onboard users. Users can request an invite here.

The company’s founders, Ayelen Denovitzer and Shailendra Sason, both former executives at Revolut, founded Solvo to address the lack of a user-friendly, trustworthy investment platform.

They recognized that new entrants to Web3 and “OG” crypto gamers have to face complicated technical requirements, risk losing their seed phrases/passwords, and a difficult onboarding process to new platforms. And now the founders are evolving Solvo’s technology to solve these issues by creating the Qubit wallet.

With the Qubit wallet, gamers will be able to focus on playing their favorite games while still having the highest security and control over their assets, Denovitzer said. The wallet will come with gaming and security-oriented features, including a multi-sig onboarding process.

When users are looking at their wallets, they will see it can be cross-game and cross-chain. They can see all their gaming assets for each game, regardless of the blockchain. It’s a more intuitive way to manage assets compared to options available today, Denovitzer said. Since it’s a smart contract wallet, you can approve multiple transactions with just a click.

“Web3 is more known than ever, but managing your crypto wallet is still difficult for even the most experienced Web3 user,” said Denovitzer. “Gamers want to play games but need easier onboarding and friendlier wallet management options. This will give gamers the ownership they deserve over their assets and help them fully participate in the blockchain gaming space, a market expected to reach $65 billion by 2027. Our user-friendly wallet will let the gamers focus on having fun. We believe qubit wallet is the missing piece to bring new gamers into Web3.”

Designed to be the default wallet of Web3 gamers, the Qubit wallet allows players to get a wallet and start playing with a single