On Tuesday, the decentralized app store Alchemy announced it would launch. The store is meant to facilitate the creation and distribution of decentralized applications.
Most of the recent efforts to bring together centralized institutions and Web3 technologies have failed to produce fruitful results. Because Apple’s app store demanded 30% of the gas fees associated with transfers, Coinbase stopped allowing mobile non-fungible token (NFT) transactions last week.
As the head of growth at Alchemy, Jason Shah, says that even though the app store is centralized, it is not a product that can be sold. Instead, it aims to provide no-cost access to Web3 for curious users and developers eager to demonstrate their technologies to a wide audience.
To help the community thrive, says Shah, “We are all about getting free resources to the community that we think can grow with it,” said Shah. “Again, we’ve built ways into the system to have the community actually shape it.”
Shah claims that while other marketplaces may be motivated by royalties, Alchemy is motivated by the desire to increase Web3 adoption through an efficient and user-friendly marketplace.
Because of the diversity of Web3 products, dapps can be found in a wide variety of locations and use a wide variety of communication methods. This may cause some people to have second thoughts about using blockchain technologies.
To help provide consumers with clarity and trust, Shah explained,“We wanted to really step in and help provide an open, community-oriented product while still providing a kind of clarity and trust to consumers,” said Shah. “If we believe in the future of Web3, we really need to make it really simple for [users] to get the word out there, and educate consumers about the benefits that they provide.”
Alchemy reported continued progress on new technologies and app development by Web3 developers in its third-quarter report. Last month, it released Spearmint, a tool designed to assist developers in preventing malicious actors from accessing NFT mints. The corporation successfully gathered $12 million in September for its new venture capital fund.