Ever since it first debuted in 2016, one software wallet has stood atop Web3 for its accessibility, security, and ease of use. That software wallet is called MetaMask.
Many of the features that are common in software wallets today first came to light thanks to MetaMask. The wallet has continuously performed a great service to the blockchain community – and has done so to such an extent that it remains the most popular software wallet in the world today.
What is MetaMask, why is it still the number 1 software wallet, and what could its future look like? Master the topic, as we explain the past, present and future of the MetaMask software wallet.
Key Insights
- Created by Joseph Lubin, Dan Finlay and Aaron Davis at Consensys
- Debuted in 2016
- The world’s most popular software wallet for the majority of its existence
- Serves over 30 million monthly active users (as of December 2024)
- Currently the most popular software wallet in the world (as of December 2024)
What is MetaMask?
MetaMask is a free-to-use, open-source software wallet, available on desktop and mobile. The wallet allows users to store, send and receive a wide variety of both cryptocurrencies and NFTs.
Developed by blockchain software company Consensys, MetaMask is a crucial tool in the world of Web3, allowing users to safely and securely own digital assets, as well as facilitating interactions with the most popular blockchain-based tools, sites and services.
The brainchild of MetaMask is Joseph Lubin, a co-founder of Ethereum, who realised that a powerful, secure and easy-to-use software wallet would be crucial to the growth in adoption of blockchain technology.
MetaMask is a self-custodial wallet, meaning that users retain control over their private keys – and therefore ensuring they have true ownership of all of their assets. This also allows users to use MetaMask in partnership with their favourite hardware wallets, such as Ledger and Trezor.
MetaMask’s aim is to make using blockchain simple, straightforward and user-friendly. To that end, MetaMask supports many popular browsers, including Chrome, Firefox, Brave and Edge, with their extension allowing users to enter the world of Web3 using tools that they are already familiar with.
This has been vital for getting users to begin interacting with DeFi services such as Uniswap, NFTs collections such as Bored Ape Yacht Club, and blockchain-based platforms such as OpenSea.
MetaMask is packed with security features that add an extra line of defence between a users assets and the sites they visit. This helps to prevent fraud, malicious code attacks and more – and Consensys continues to pursue ever more powerful security measures on a daily basis.
The MetaMask wallet supports Ethereum and all Ethereum Virtual Machine (EVM)-compatible networks, such as BNB Chain, Polygon, and Avalanche. Recently, they introduced Snaps – a brand-new feature that in theory can facilitate connectivity to non-EVM blockchains, such as Solana.
The history of MetaMask
MetaMask was first made publicly available in 2016. Prior to MetaMask, software wallets were often designed to cater to advanced users, meaning only true enthusiasts could get the most from blockchain-based services. In this way, MetaMask was the first software wallet that truly catered to – and found an audience in – beginner users.
In 2017, MetaMask grew significantly thanks to the Initial Coin Offerings (ICO) boom. The wallet continued to grow in popularity, and in 2020, MetaMask released a mobile app for iOS and Android devices, bringing access to Web3 to a whole new segment of users around the world.
When NFTs hit the mainstream in 2021, MetaMask became the wallet of choice for millions of new enthusiasts around the world. By August 2021, MetaMask saw over 10 million monthly active users, showing its pivotal rose to the ever-growing blockchain industry.
In 2024, functionality took another major step. MetaMask Card – the product of a partnership with MasterCard and Baanx – saw its debut; a physical debit card for MetaMask owners. This allowed users to spend cryptocurrency from their MetaMask wallets at any location that accepts MasterCard without needing to convert to local currency – a huge step in accessible, everyday crypto use.
What’s next for MetaMask?
In 2025, MetaMask will continue on their quest to bring ever-higher standards of accessibility, user experience, and ease of use to the blockchain community.
Greater multi-chain support is in the works. By supporting more non-EVM blockchains, MetaMask looks to become a universal Web3 wallet – allowing users to manage all of their digital assets through MetaMask.
Further to this, MetaMask is continuously looking at the rapidly-growing ecosystem of Layer-2 networks. With emerging ecosystems such as Optimism, Arbitrum and Eclipse continuing to grow, MetaMask users will soon be able to benefit from the benefits that these networks provide, improving the blockchain experience.
Security is a top priority for MetaMask – and it will continue to be in future. To push security even further, Consensys acquired security service Wallet Guard in July 2024 to help further bolster their security services.
Third-party developer support is also on the up. MetaMask has millions of users around the world, including many developers who wish to build on MetaMask’s existing features. The MetaMask team are tapping into this resource with features such as Snaps, that encourage, support and help to drive future innovations.
Since their debut in 2016, MetaMask has been the go-to software wallet of the Web3 industry. Its security, ease of use, accessibility and more have made it a handy service for blockchain veterans and newcomers alike, and it continues to play a major role in the growth of the industry to this day.
Although there’s many competitors nipping at its heels – Phantom, Xverse and Rainbow to name a few – none have yet to pose a serious challenge to MetaMask’s dominance. MetaMask is the gold standard to which all other software wallets are compared to – and for now, nobody has yet to surpass that high standard.
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