The world of finance and technology experienced a pivotal moment in 2008, when a person, or group of people who went by the pseudonym, Satoshi Nakamoto, published a paper titled 'Bitcoin: A Peer-to-Peer Electronic Cash System'. Bitcoin was introduced to the world and soon thereafter, individuals began mining and exchanging cryptocurrency. Fast forward to 2022, and the market has welcomed many other blockchain projects, and cryptocurrencies, pushing the industry through a $1t market cap (now sitting at $883.4b).

Despite the disruptive innovation and eye-watering value generated over the last 12 years, only 3.9% of the world’s population own cryptocurrency (crypto.com). Users cite poor product UI/UX and a lack of understanding as key reasons for their lack of participation.

We believe that Cryptocurrency wallets are the gateway to web3, and at present, the experience is unfriendly and one-dimensional.

The digital wallet opportunity

With wallets often being the first product experience for new users and a regular touch-point for experienced market participants, Clutch believes there’s a tremendous opportunity to onboard the masses into web3 through a better wallet experience.

The most popular wallet for both experienced, and new-to-market participants is Meta Mask. The browser extension wallet boasts over 30 million monthly active users, and is often the wallet of choice for minting NFTs, and connecting into the broader Defi ecosystem. It’s also very likely the first crypto product for many newbies - it certainly was for the folks that jumped into crypto in 2021 through a surging NFT market known by many as ‘NFT Summer’. And while we applaud Meta Mask for being one of the ‘OG’ wallets, and playing a pivotal role in onboarding new crypto users during the NFT boom, we feel the small interface and lack of other features leaves people with a transactional-only experience.

So many things are left for the user to figure out themselves, and for such a critical part of the web3 infrastructure, this shouldn’t be the case. Guidance should be abundant, and users should be educated about what it means to be using a non-custodial wallet, and why it's important. It shouldn’t simply offer transactions, and an ambiguous bridge to Defi, but offer users a clear, well-lit pathway to web3. Failing to offer such an experience no doubt contributes to low participation in the space, and worse, negative perceptions around the utility of the underpinning technology.

There’s an opportunity to improve messaging, educate more, enhance product UI/UX, and ultimately, better serve the next wave of people seeking to learn about the future of finance.

Clutch Wallet’s Mission

Our mission is to connect people to web3. We believe that autonomy over your experience and assets gives you freedom and choice.

To fulfill this mission, we’re building a non-custodial wallet offering users an all-encompassing experience underpinned by social, media, education, and seamless web3 integration.

Looking ahead, we’re excited to expand our web application, build and launch our mobile application, onboard the various web3 partnerships we’ve established, and host more online and in real life workshops to increase the adoption rates of crypto. 

Backed by Anthemis Female Innovators Lab, The Fund, Rogue Ventures, Emmeline Ventures, and Joe Vezzani of Lunar Crush, Clutch is currently raising its seed round - Read the full story here.

Bec Jones, James Kouzinas and Sheela Vats.

The world of finance and technology experienced a pivotal moment in 2008, when a person, or group of people who went by the pseudonym, Satoshi Nakamoto, published a paper titled 'Bitcoin: A Peer-to-Peer Electronic Cash System'. Bitcoin was introduced to the world and soon thereafter, individuals began mining and exchanging cryptocurrency. Fast forward to 2022, and the market has welcomed many other blockchain projects, and cryptocurrencies, pushing the industry through a $1t market cap (now sitting at $883.4b).

Despite the disruptive innovation and eye-watering value generated over the last 12 years, only 3.9% of the world’s population own cryptocurrency (crypto.com). Users cite poor product UI/UX and a lack of understanding as key reasons for their lack of participation.

We believe that Cryptocurrency wallets are the gateway to web3, and at present, the experience is unfriendly and one-dimensional.

The digital wallet opportunity

With wallets often being the first product experience for new users and a regular touch-point for experienced market participants, Clutch believes there’s a tremendous opportunity to onboard the masses into web3 through a better wallet experience.

The most popular wallet for both experienced, and new-to-market participants is Meta Mask. The browser extension wallet boasts over 30 million monthly active users, and is often the wallet of choice for minting NFTs, and connecting into the broader Defi ecosystem. It’s also very likely the first crypto product for many newbies - it certainly was for the folks that jumped into crypto in 2021 through a surging NFT market known by many as ‘NFT Summer’. And while we applaud Meta Mask for being one of the ‘OG’ wallets, and playing a pivotal role in onboarding new crypto users during the NFT boom, we feel the small interface and lack of other features leaves people with a transactional-only experience.

So many things are left for the user to figure out themselves, and for such a critical part of the web3 infrastructure, this shouldn’t be the case. Guidance should be abundant, and users should be educated about what it means to be using a non-custodial wallet, and why it's important. It shouldn’t simply offer transactions, and an ambiguous bridge to Defi, but offer users a clear, well-lit pathway to web3. Failing to offer such an experience no doubt contributes to low participation in the space, and worse, negative perceptions around the utility of the underpinning technology.

There’s an opportunity to improve messaging, educate more, enhance product UI/UX, and ultimately, better serve the next wave of people seeking to learn about the future of finance.

Clutch Wallet’s Mission

Our mission is to connect people to web3. We believe that autonomy over your experience and assets gives you freedom and choice.

To fulfill this mission, we’re building a non-custodial wallet offering users an all-encompassing experience underpinned by social, media, education, and seamless web3 integration.

Looking ahead, we’re excited to expand our web application, build and launch our mobile application, onboard the various web3 partnerships we’ve established, and host more online and in real life workshops to increase the adoption rates of crypto. 

Backed by Anthemis Female Innovators Lab, The Fund, Rogue Ventures, Emmeline Ventures, and Joe Vezzani of Lunar Crush, Clutch is currently raising its seed round - Read the full story here.

Bec Jones, James Kouzinas and Sheela Vats.