Right now, crypto wallets are the most credible attempt to becoming the super app of the new internet

because they've started with the most difficult thing to build into a super app, which is finance

and money management. A lot of applications in social try to become super apps by adding on payments

or finance as an afterthought. Crypto wallets have started there as a default.

Crypto is basically the kind of black hole that's absorbing everything that's going on in finance.

It's going to be very difficult to stop the momentum around all the network effects there.

If you're trying to recreate everything from scratch, it's going to be difficult to compete.

Yeah. everything from scratch, it's going to be difficult to compete. Welcome to Web 3 with A16Z Crypto. I'm Robert Hackett.

Today we're diving into one of the most important and rapidly evolving

areas in crypto, wallets. They're no longer just places to store keys. They're evolving

into full-blown consumer finance hubs. To unpack all of this, I'm joined by Brandon Millman,

co-founder and CEO of Phantom, and Jay Drain, an investing partner here at A16Z Crypto.

We talk about the shifting role of wallets, why Phantom bet early on Solana, how perpetual futures

or perps and other new on-chain products are changing user expectations, and what future

super apps might look like.

We also discuss where wallets are headed and what that means for

crypto broadly. Let's dive in. Crypto wallets are basically the way that people interact with

crypto today. They're sort of the interface, the first touch point, your window to the world.

Brandon, you're building Phantom.

How do you think about crypto wallets, what they are and what they've evolved into?

Yeah, crypto wallets today are this tool to help users discover and interact with this world that's been developing in the on-chain

ecosystem. It wasn't actually always the wallet that people would reach to first when they're

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