MetaMask hits 10 million Monthly Active Users, on boom of NFTs

With the boom of non-fungible tokens (NFTs), the wallet has become one of the most popular ways to access the Ethereum blockchain.

MetaMask hits 10 million Monthly Active Users, on boom of NFTs

MetaMask now has over 10 million monthly active users, with the Asian market leading the way. MetaMask is a non-custodial digital wallet that has made a significant contribution to the world of decentralized finance (DeFI).

In August 2021, MetaMask's monthly users jumped from 545,080 in July 2020 to 10,354,279, a growth of more than 180%, reports ConsenSys, a company that develops Ethereum software.

The MetaMask wallet, which allows users to use decentralized applications through a regular browser, functions much like a Bitcoin wallet.

With the boom of non-fungible tokens (NFTs), the wallet has become one of the most popular ways to access the Ethereum blockchain.

In September of last year, MetaMask launched a mobile version, which has helped the company quickly increase its user base in the Philippines, China, India, Indonesia, Thailand, and Brazil. Users have also increased since March 2021, when token swaps were launched on mobile.

Now, more than 10 million users exchange tokens, lend and borrow NFTs, mint and buy them, and play games on MetaMask.

In the MetaMask development team's very first community call, the possibility of an eventual token release was discussed. The team clarified that a token could be released in the future, although there is no plan for an immediate release.

In an interview with MetaMask's Erik Marks, he explained that the project is "absolutely open" to the idea of introducing a crypto token to make it community-owned.