Introducing Seamless Wallet Funding with Unlock Labs and Privy

At Unlock Labs, we are focused on making onchain access to memberships, subscriptions, and ticketing more user-friendly. We are introducing a new feature powered by our integration with Privy: Wallet Funding.

This capability simplifies the crypto onboarding process, enabling users to fund their wallets and complete transactions directly within the Unlock app in a streamlined manner.

Engaging with onchain platforms can be challenging for many users. The processes of wallet creation, funding, and navigating blockchain networks often create barriers that lead to abandoned transactions. Wallet Funding addresses these issues.

• Event Attendees and Subscribers can now fund their wallets within Unlock apps, making it easier to purchase event tickets, subscriptions, and memberships.

• Event Organizers and Creators can rely on this feature to reduce friction for their audience, ensuring a smoother experience for accessing onchain tickets or creator subscriptions.

• Wallet Funding in settings in the Unlock app — A new "Funding" tab in the settings page provides a centralized location for managing wallet balances and initiating funding.

• Multiple funding options — Users can choose from several methods, including credit/debit card purchases, bank transfers, transfers from existing wallets, and integration with other providers including Coinbase and MoonPay.

• Contextual funding prompts — Alerts guide users to fund their wallets when attempting actions that require a balance, such as purchasing subscriptions or event tickets.

• Checkout Integration — During checkout, users are notified if their wallet lacks sufficient funds and can add funds without leaving the process.

Wallet Funding helps reduce transaction drop-off rates, enhances user understanding of onchain activities, and can improve overall conversion rates. By integrating funding alerts and multiple payment methods, this feature simplifies and improves the user experience within the Unlock ecosystem.

This addition also lays the groundwork for future improvements, such as cross-chain optimization.

Making crypto transactions more accessible is critical to broader adoption and bringing more people onchain. Many potential users are deterred by the complexity of managing wallets and funding them through existing mechanisms.

By integrating this functionality directly into the Unlock app, we are removing a significant barrier to entry. This feature enhances the experience for individual users and also supports event organizers and creators in reaching broader audiences, driving engagement, and fostering growth within the ecosystem.

Wallet Funding is now generally available across Unlock Labs apps.