Ethereum’s MetaMask Wallet Passed 30 Million Users: Analysis

Ethereum’s MetaMask wallet passed 30 million users with more plans to grow rapidly as we can see more today in our latest Ethereum news.

MetaMask is a popular tool that millions use to navigate Web3. Consensys CEO Joe Lubin also said an upcoming DAO will help fund some new pieces for MetaMask. The company announced that Ethereum’s MetaMask wallet that people use to store ETH and other coins now has over 30 million monthly active users. The figure reflects a 42% increase in the past four months when the platform reported 21 million users and came up with plans to become the key player in the emerging Web3 economy.

The global user base relies on MetaMask to mint and to collect NFts, join DAOs and participate in the DeFi protocols. The US, Brazil, Nigeria, Germany, and the Philippines represent some of the most active markets for MetaMask as Consensys said in a statement. The platform whose competitors include MyEtherWallet and Coinbase is used by consumers to navigate around Web3 but the service also offered some institutional versions and help professional investors as well as businesses, to do the same.

According to ConsenSys CEO Joe Lubin, MetaMask is getting into some progressive decentralization while prioritizing security and improving the wallet’s interface:

“There’s a great user interface that we’re going to launch pretty soon.”

As a part of the plan to achieve its new goal, MetaMas will be launching a Decentralized Autonomous Organization or a DAO which is often seen as an internet community with a bank account. Lubin added:

“There is a DAO that is being been formed right now in the context of MetaMask. It won’t govern MetaMask, but it will enable the creation of novel new pieces of MetaMask to be funded.”

Lubin didn’t provide more details about the DAO or a date of the launch but he confirmed that MetaMask aims to launch a token. The rumors of a token have been going on for months with some early MetaMask adopters hoping they will be entitled to receive one. During Ethereum Denver, MetaMask’s head of operation Jacob. ETH said the token launch will proceed and that it will not be a cash grab. ConsenSys announced the new user tally for Metamask on the same day it disclosed that it raised a $450 million Series D round which valued the company at $7 billion.