Blockchain payments firm MoonPay has launched Web3 Tools, a platform aimed at simplifying Web3 experiences for consumers. The platform includes features such as authentication, identity verification, token-gating, ticketing, and insights to help brands build communities, foster loyalty, and create new revenue streams.

Global brands like Adidas, Gucci, Puma, and Mastercard have already used Web3 Tools for their Web3 projects. For example, Puma created digital twins of its latest collections, allowing customers to purchase digital sneakers redeemable for physical pairs.

MoonPay developed Web3 Tools using technology from its acquisitions of NFT solution ethpass, Plex Labs, and Nifty’s. MoonPay CEO Ivan Soto-Wright emphasized the need for safety and simplicity in the fragmented Web3 landscape to fully realize the potential of digital ownership.

MoonPay also helps companies navigate the Web3 space by offering support in compliance, know-your-customer and anti-money laundering practices, and fraud prevention.