Web3-focused developers are using .xyz domains to introduce innovative decentralized finance (DeFi) platforms and cryptocurrency tools. Cryptocurrency wallet Monolith.xyz strives to make it easier for users to buy, store, and spend their cryptocurrency in the real world. Full-stack DeFi aggregator ADD.xyz aims to deliver a variety of decentralized finance products and related solutions all on one platform. Ethereum-based cryptocurrency wallet Argent.xyz combines a simple interface with leading security features in an effort to offer a better overall experience for crypto traders. In this week’s #BlockchainThursday, we’ll introduce you to an app designed to combine web3-native social messaging with the utility of a crypto wallet: Tribes.xyz.
Tribes.xyz is the online home of Tribes Protocol, a tech startup developing a decentralized communication protocol and a crypto-native app for crypto communities, creators, and DAOs. The Tribes app is a web3-native messaging and group wallet app designed to help users co-own digital assets. In January 2023, the startup raised $3.3 million in a pre-seed funding round led by San Francisco-based venture capital fund Kindred Ventures and South Park Commons, an investment community founded by Ruchi Sanghvi, Facebook’s first female engineer.1
The Tribes social wallets, known as “co-wallets” are digital wallets that allow people to co-own and manage digital assets while communicating directly through the wallet itself. This means that people can use their co-wallet to talk to each other and make decisions together without having to use an outside messaging service such as Discord or Twitter. The Tribes.xyz co-wallets have many potential use cases, including for decentralized autonomous organizations (DAOs) and for family members who wish to co-own property. Tribes.xyz’s wallets can send, receive, and hold all kinds of digital assets, such as non-fungible tokens (NFTs), memberships, and currencies. To make sure that everyone is on the same page, any sending or spending of assets from the group requires a group vote for approval.
Founder, CEO, and former Coinbase engineer Hish Bouabdallah selected a domain that felt fitting for their unique product. As he told us, “Tribes is a web3 messenger for everything from DMs to DAOs, and because we’re crypto-native, we’re a bit different than the apps people are used to. So when we thought about where we’d like our online home to be, we wanted a domain that’d help tell the story that we’re something new, something different. XYZ felt just right for that.” We are inspired by the innovation demonstrated by Hish, and look forward to more developments. The app is currently in alpha and available in the Apple and Google app stores. You can learn more by following along on Twitter and by visiting Tribes.xyz.
XYZ is proud to share about the many incredible members that make up the XYZ community! We encourage you to do your own research before using the products and services of the websites we feature. The information about products and services contained in this blog post does not constitute endorsement or recommendation by XYZ.