ConSensys Acquires Web3Auth to Enhance MetaMask UX

ConSensys has acquired Web3Auth, a provider of crypto wallet infrastructure, aiming to enhance the user experience for its popular MetaMask wallet. The company states that the acquisition will address a major risk in self-custody: seed phrase management, which currently impacts 35% of users who lack backups for their funds. By integrating Web3Auth, MetaMask users can now access and recover wallets using methods like device-based authentication and social logins, removing a previous barrier to entry.