thirdweb, the esteemed Web3 development platform co-founded by Steven Bartlett, Furqan Rydhan, and Jake Loo, has reached a noteworthy achievement by successfully acquiring Paper, the pioneering creator of embedded wallets. Paper has played a vital role in democratizing Web3 accessibility, enabling individuals with just an email address and credit card to participate.
This innovative acquisition brings together two prominent platforms to provide a comprehensive solution for application and game developers who aim to harness the potential of blockchain technology. By incorporating Paper’s email wallet and checkout solutions, thirdweb transforms into a comprehensive platform, enhancing the efficiency of blockchain development processes and eliminating the necessity of engaging multiple vendors for diverse services.
A Strategic Merger of Leading Web3 Platforms Promises Game-Changing Solutions
Thirdweb has solidified its position as the leading platform for blockchain development. It boasts a remarkable track record, with more than one-third of all Web3 developers relying on their tools. Furthermore, in the year 2023 alone, apps built on their platform processed over 10 million transactions, showcasing their exceptional capabilities. In a similar vein, Paper has achieved notable accomplishments, exerting a significant influence on the User Experience aspect of Web3 development. It has witnessed the creation of more than 50,000 wallets, the minting of 500,000 NFTs, and the processing of transactions amounting to over $10 million.
The anticipated strategic partnership between thirdweb and Paper is poised to ignite a surge of innovation within the blockchain industry. This collaboration is expected to expedite the timelines for development and drive significant progress across the entire sector. It is anticipated that the forthcoming market cycle for Web3 will experience a notable increase in consumer applications spanning multiple domains. The acquisition of Paper by thirdweb is expected to play a pivotal role in driving this cycle, by eliminating barriers and enhancing user experiences.
🚨 HUGE ANNOUNCEMENT 🚨
We’re excited to announce that we acquired Paper, adding their industry-leading web3 wallet & checkout solutions to our platform.
Together, we will power the next generation of internet applications.
Details. 🧵 pic.twitter.com/o3x7BvLh0W
— thirdweb (@thirdweb) July 19, 2023
By leveraging Paper’s technology, developers on the thirdweb platform can enhance the accessibility of NFT purchases, thereby removing obstacles for individuals who are not well-versed in cryptocurrency. By streamlining the wallet creation process to solely require an email address, brands and developers can seamlessly venture into the Web3 realm and tap into its vast potential worth trillions of dollars.
During this time, we’ve worked with thirdweb extensively — combining our products to launch projects for companies like Fnatic, Fractal, and New York Fashion Week.
I’ve always admired how easy thirdweb makes it for any developer to launch a blockchain-based app.
— James Sun (@JamesZmSun) July 19, 2023
In addition, Paper’s wallet solution brings about a significant transformation in Web3 payments. It empowers users to conveniently purchase cryptocurrency assets through a wide range of payment options, including credit cards, Google Pay, Apple Pay, iDEAL, debit cards, and Ethereum for acquiring NFTs on alternative blockchain networks. The seamless payment experience offered by this technology improves user acceptance and eliminates the complications typically associated with cryptocurrency transactions.
Established in 2021, Paper has garnered acclaim from prominent players in the industry such as Fnatic, Deadmau5, Boohoo, and YesTheory. As part of their commitment to enhancing the creation of outstanding onboarding experiences for blockchain developers, the founders of Paper will now assume significant senior positions within thirdweb.
Furqan Rydhan, one of the co-founders of thirdweb, conveyed his enthusiasm regarding the acquisition. He firmly believes that the integration of thirdweb and Paper’s technology will result in an exceptionally robust solution for blockchain development, thereby propelling the industry towards progress.
Steven Bartlett, the co-founder of thirdweb, expressed his enthusiasm for the acquisition, considering it a significant advancement in the blockchain infrastructure sector. Thirdweb is set to revolutionize the digital world by bringing together two prominent players. Their goal is to enhance the way people interact with technology, streamline blockchain operations, and make it easier for Web3 developers worldwide to enter the industry.
Jake Loo, the Chief Technology Officer and co-founder of thirdweb, holds the firm belief that this acquisition has the potential to serve as a catalyst for the forthcoming significant market cycle. Consequently, it is expected to initiate a surge of consumer applications that are developed utilizing blockchain technology. Developers now have access to a comprehensive range of infrastructure, enabling them to drive the advancement of Web3 development.
The prospects for Web3 development have significantly improved with the recent acquisition of Paper by thirdweb. With the collaboration of these prominent industry leaders, a transformative shift is anticipated in the realm of blockchain technology. Their partnership aims to revolutionize the landscape, pushing the limits and opening doors to a new era of innovative possibilities in the blockchain industry.
