Futureverse and Rakuten Wallet Debut Web3 Pass for Millions of Users

Futureverse, an AI and metaverse technology platform, officially launched RakutenWallet.Pass on Thursday in partnership with Rakuten Wallet, a new initiative aimed at simplifying the Web3 experience for millions of users.

Rakuten, a cash back platform available at over 3,500 stores, reported more than 147 million users as of Q4 2024. The company, which launched Rakuten Wallet in 2019, has been a vocal supporter of Web3 and blockchain innovation via its Rakuten Blockchain Lab, established in 2016. And with this latest upgrade, users have instant access to Web3 features like digital ownership and immersive brand experiences, according to a press release viewed by The Defiant.

Powered by Futureverse’s Layer 1 blockchain, The Root Network, RakutenWallet.Pass provides secure login and interoperability across platforms while eliminating technical challenges.

As part of the launch, users can access Reebok Impact, a new feature that turns personal photos into custom digital sneakers.

The rollout comes alongside a signed Memorandum of Understanding (MoU) between Futureverse and Rakuten Wallet to advance their Web3 collaboration.

“What we’ve built with our Pass product is a seamless login experience that any brand, community or commerce giant can use to upgrade their backend technology so consumers can immediately experience the benefits of web3,” said Aaron McDonald, CEO and co-founder of Futureverse, in the press release. "We’ve made the technology itself invisible and have eliminated the roadblocks that consumers and brands usually experience when trying to deliver the value that web3 can provide.”

McDonald noted that the RakutenWallet.Pass will feel “simple for any consumer,” while the benefits are numerous.

The move by Rakuten and Futureverse comes as the U.S. Web3 market is experiencing a period of rapid expansion. According to Grand View Research, the sector was valued at $2.25 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 49.2% from 2024 to 2030.