Dynamic raises $7.5M, led by a16z crypto; We’re on a mission to accelerate the adoption of wallet-based authentication and identity.
The first time you log into a website using your wallet is a magical experience. Your wallet becomes a single sign-on device (SSO) for the web, a much more powerful experience than username / password based account creation. Based on the information associated with your wallet, you can access experiences gated for NFT holders, prove identity in a privacy-preserving manner, and carry information with you across sites. Dynamic is based on this core promise - that wallets can create these magical experiences for customers.
For developers however, creating a magical wallet-based authentication experience (e.g. “sign in with your wallet”) on a site or app is complex. Developers have to:
- Keep up with a rapidly growing number of wallets across chains, each with its own requirements and subtle differences in implementation
- Teach new web3 users about wallets and help them with setup
- Implement gating, access lists, and identity protocols
- Ensure authentication flows are secure
The lack of time to devote to a site or app’s most critical conversion flows leads to poor customer and developer experience. Developers want to focus on their core products, not re-implement the same login, onboarding, and authorization flows all over again.
Dynamic is a web3-first multi-chain authentication and authorization platform that lets developers harness the power of wallet-based interactions in minutes. With Dynamic, you implement a simple SDK in under one minute (available in React, with more libraries coming soon!), and control all authentication, onboarding, and authorization features from your developer dashboard. You can enable additional chains with a click, manage your users, introduce sophisticated onboarding flows, block OFAC and risky wallets with Chainalysis, and much more — all without having to touch code.
Over the past few months, we have been working with alpha customers like Llama, Popartcats, Handstamp, and many others to build Dynamic. Today, we’re expanding access and rolling out our closed beta. You can apply for early access via dynamic.xyz to get started, and check out our docs at docs.dynamic.xyz.
We’re also excited to announce that Dynamic has raised a $7.5 million seed round led by a16z crypto. Joining a16z are incredible partners, including Castle Island Ventures, First Round Capital, Solana Ventures, Chapter One, Circle Ventures, Hypersphere, Breyer Capital, at.inc/, Sheva, Shine Capital, and many remarkable angels. We are honored to have such an amazing team of investors supporting us.
At Dynamic, we’re thrilled to be active members of the larger web3 identity community. We aim to build on top of decentralized standards such as Sign In with Ethereum and CASA and protocols like WalletConnect. Our goal is to contribute to and integrate many more in the future, pushing the ball forward on decentralized identity.
We have been dreaming of building a lasting company for over 15 years. We first met at MIT, two Israelis just out of the IDF's intelligence corps, and have worked together on side projects as well as product and engineering counterparts across multiple organizations. Together, we’ve obsessed over the intricacies of identity, finding that wallet-based authentication creates a fundamentally better customer and developer experience. We’re grateful to have a world class team that has built what you see today.
Yoni & Itai