Intu Open Beta Date Announced, Raised $2M Pre-Seed to Create Account Abstraction Alternative for EVM-Chains
Intu is launching an account protocol that allows developers to create self-sovereign, recoverable, decentralized web3 accounts.
Delaware, USA, 20th February 2023 — Intu, a web3 decentralized account management protocol focused on human-proofing web3, has left stealth mode and announced its beta launch at ETHDenver Buidl week on the 24th of February. Intu has raised $2M in its pre-seed funding round.
Invested in by some of the most prominent names in the crypto industry, lead by CoinFund with participation from Metaweb Ventures, Fantom Foundation, Kitefin, Orrick as well as Angels, Intu aims to provide self-custodial crypto wallet solutions that give developers the tools to create self-sovereign, recoverable, decentralized web3 accounts.
Intu’s distributed externally-owned-accounts (dEOA) accounts marry the composability of smart contract wallets with the elegance and security of an EOA. Through a simple SDK developers can create progressive onboarding experiences to any web3 dApp or wallet.
The company’s mission is to make the self-custody of crypto as simple and accessible as using email. The company’s human-first approach puts the user at the center of the design process, ensuring that their solutions are user-friendly and easy for the average person to understand and utilize.
“Now more than ever, it’s clear how important good self-custodial solutions are needed,” said Max Radelius, Co-Founder of Intu. “Our goal is to provide solutions that give non-coiners the confidence to participate in web3 and a clear path to financial freedom.”
One of the unique features of Intu is its account abstraction alternative, which changes the relationship between private and public keys, providing the infrastructure to create more beneficial and user-friendly solutions. This approach simplifies the process of managing and securing crypto assets, making it accessible to the mainstream.
“Intu is democratizing the access to MPC (TSS) technology for both retail users and developers alike. In the aim to provide a more secure cryptographic alternative to smart contract wallets and multisigs.” said Steven Matthiesen, Co-Founder of Intu.
The beta will be released at ETHDenver, a premier blockchain developer conference, and will be available for users to test and provide feedback. With the launch of the beta, Intu is taking a step forward in its goal to make self-custody accessible to a wider audience and to provide a solution that could help solve the risk of losing life savings.
“We trust our users to choose the level of decentralization themselves amongst their local circle of trust,” said James Bourque, Co-Founder of Intu. “It should be their choice as to the level of responsibility they want to keep.”
Intu is a remote first company registered in Delaware, USA and is backed by some of the most prominent names in the crypto industry, Coinfund, Metaweb Ventures, Fantom Foundation, Kitefin, Orrick as well as Angels.
For more information, please visit www.intu.xyz. Co-Founders are available for interview, comment, and event appearances. Early access to the beta is also available upon request.
Investor Commentary
Alex Felix, CIO & Managing Partner, CoinFund:
“The existential risk to crypto is really safe adoption and that requires a bottoms up view on the way that people secure manage and transact with bearer assets and private data… wallets are superior to those generated by other providers because they allow for signers to participate in keysecurity and is something that’s controlled by them.”
Video: CoinFund invests in Intu
Jason Rudolph, Director, Kitefin Capital
“INTU is a vital ingredient to solving one of the most intractable barriers to crypto-asset adoption; human-friendly but institutional-grade true self-custody. The project is game-changing in nature.”
Article: Kitefin Capital invests in early stage start-up INTU About Intu
About Intu
Intu is a decentralized protocol that enables shared ownership of digital assets using locally encrypted shares and any EVM-compatible chain. Easily share, recover, or even change ownership of your assets while maintaining the security and integrity of your account. Intu is more than just a protocol. It’s a movement towards a fair, decentralized, and open internet of value. Intu’s distributed externally-owned-accounts (dEOA) accounts marry the composability of smart contract wallets with the elegance and security of an EOA. Through a simple SDK developers can create progressive onboarding experiences to any web3 dApp or wallet.
About CoinFund
CoinFund is a web3 and crypto-focused investment firm and registered investment advisor founded in 2015, with the goal of shaping the global transition to web3. The firm invests in venture and liquid opportunities within the blockchain sector with a focus on digital assets, decentralization technologies, and key enabling infrastructure. The CoinFund team has studied and supported the development of the blockchain space from the inception of the first decentralized networks, and come from diverse backgrounds in investing, engineering, law, and decentralized protocols. For more information, please visit their website at coinfund.io
Contact Details:
Name: Max Radelius
Title: Co-Founder
Email: max@intu.xyz
Phone Number: +46706428124
Social Media Links:
https://www.youtube.com/@IntuOfficial
https://twitter.com/IntuOfficial
Website Link: https://intu.xyz/
