NFID
DAO-governed digital wallet for Web3 asset management.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor investor | €0.0 | round |
$1.7m | Seed | ||
| Total Funding | 000k | ||
NFID offers a decentralized, non-custodial cryptocurrency wallet built on the Internet Computer (ICP) that prioritizes user-friendly, secure digital asset management. The platform's core feature is its passkey and email-based authentication system, which removes the need for traditional, complex seed phrases, making it more accessible to Web3 newcomers. For advanced users, options for self-sovereign control over cryptographic keys and traditional recovery phrases remain available.
A key differentiator for NFID Wallet is its governance model, which is controlled by a Decentralized Autonomous Organization (DAO). This structure allows users, as token holders, to participate directly in the platform's evolution by voting on software updates, fee distribution, and treasury management. Revenue is generated through a 0.875% convenience fee on in-app swaps, with all proceeds managed by the DAO, ensuring funds are used for community-driven initiatives rather than flowing to a centralized corporation.
The company was founded by Dan Ostrovsky, who has a background in building ML-driven ad campaigns and business intelligence companies. His interest in Web3 and the desire to create a more user-aligned wallet led him to build on the Internet Computer, which he identified as the only platform capable of supporting his vision for a fully on-chain wallet. The team includes professionals from AWS and the London Stock Exchange. In January 2022, NFID raised $1.65 million in a seed round from investors including Polychain Capital, DFINITY, and Blockchain Founders Fund.
NFID's wallet is open-source and has undergone a third-party audit, achieving an all-green rating, signifying high security standards. For developers, NFID provides IdentityKit, a React library and SDK that simplifies the integration of wallet connections and authentication into decentralized applications (dApps). This toolkit aims to create a standardized, low-friction onboarding experience for users across the ICP ecosystem.
Keywords: decentralized wallet, Internet Computer, ICP, DAO governance, passkey authentication, non-custodial wallet, Web3, digital asset management, crypto wallet, self-sovereign identity, Dan Ostrovsky, IdentityKit, dApp integration, open-source wallet, blockchain, decentralized finance, crypto security, seedless wallet, community-governed