Futureverse and Rakuten Wallet join forces to simplify web3 onboarding
The Root Network Weekly Overview - May 14, 2025
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The ecosystem insights
$ROOT price: $0.005 (-14.4%)
The Root Network holders: 1.33M (+1.53%)
The Root Network total transfers: 4.19M (+17.7%)
Total EVM transactions: 422.56K (+0.54%)
Total staked: 555.1M (+19.12%)
The percentages and metrics are calculated from its change over a 14-day time frame, unless noted otherwise.
Highlight of the The Root Network
Diving deeper into some of the biggest updates from Futureverse.
💫What’s happening: Futureverse partnered with Rakuten Wallet, a digital asset and cryptocurrency exchange service under the Rakuten Group, to launch RakutenWallet.Pass.
💫Why it matters: This collaboration aims to simplify user onboarding by reducing the technical barriers typically associated with web3 such as wallet seed phrases or depositing money.
Rakuten Wallet is part of the broader Rakuten Group, a global e-commerce and financial services firm headquartered in Japan with over 1.7 billion users. Rakuten also services its loyalty program, Rakuten Points, to provide its users an interactive gamified experience.
While Rakuten is most known for being a Japanese-owned e-commerce platform, it has previously ventured into web3 with the release of an NFT marketplace and blockchain-based loyalty programs. With the deployment of RakutenWallet.Pass, powered by Futureverse’s infrastructure, it can provide a secure digital wallet that allows users to access web3 features, such as digital collectibles and personalized experiences.
In addition, the integration of Futureverse can expand its open metaverse ecosystem by tapping into Rakuten Wallet’s existing user base. Users can activate their RakutenWallet.Pass and create unique digital collectibles, such as personalized Reebok digital sneakers, for use in Futureverse’s open metaverse.
The wallet also eliminates the need to understand blockchain because all that's needed to create a RakutenWallet.Pass is the Rakuten Wallet app, which is downloadable on iOS and Google Play.
💫 The bigger picture: This partnership aligns with both companies goals of making web3 technology more accessible and user-friendly. A product that leverages Rakuten’s reach and Futureverse’s infrastructure could drive mainstream adoption at a global scale.
Since Rakuten is a global web2 company with prior web3 experience, the combination of Futureverse could create new user experiences that involves the open metaverse.
As the RakutenWallet.Pass continues to evolve, it could transform digital commerce by offering secure, user-friendly access to immersive experiences.
Built on Root
The Root Network upgraded its mainnet to version 10.73.0 - some notable features:
Offchain reward tracking
Updated staking payouts
Onchain, end of cycle record of work for reward point distribution
Moai Finance shared it reached $90M in total trading volume for its DEX built for The Root Network and XRPL
ALTERED STATE released the open alpha version of its 3D game avatars and objects creation platform
Want to catch up? Check out the monthly Futureverse updates here.
Driven by community
Highlighting the companies, communities and users tied to The Root Network.
Anti-Social Media released Locker, a tool to create and swap NFT asset combinations
Hear from Futureverse Co-founder and CEO Aaron McDonald on The Bat-Signal podcast to learn about the Candy Digital acquisition
Listen to Futureverse Chief Technology Officer Marco Brondani about how to create personalized consumer-brand relationships
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This information is for entertainment purposes only. It should not be considered financial advice, nor should it be used to make investment decisions. Cryptocurrencies are high risk and you should consult a financial professional before making any financial decisions. Make sure you do your own research.