ConsenSys Spin-Out 3Box Raises $2.5 Million to Build ID Tools for Dapp Devs

3Box is developing a decentralized solution that people can use across both traditional and blockchain-based apps.

Ethereum-centric startups such as MetaMask, Aragon and Foam - the latter of which garnered more than 500 contributors so far to its open source map - are already using 3Box.

"There's a huge hole in Web3 where identity should be. And I think 3Box is exactly where it should be to fill that hole."

3Box aims to make portable logins and profiles more simple by utilizing the peer-to-peer InterPlanetary File System to give users keys to their own data, which is distributed across nodes instead of storing the profile on a centralized server like Facebook or Twitter.

While 3Box currently runs all the nodes, the startup plans to make that open-source software easy for any developer to spin up in order to diversify the network.

"We're building a decentralized storage network on top of IPFS that allows all these services to tap into it, but it's governed by the users' consent," 3Box co-founder Michael Sena told CoinDesk.

Foam CEO Ryan John King told CoinDesk that some of his users leverage 3Box to have their external Twitter handle, GitHub profile and Foam-related activity all built-in to their Foam profile for a "Social and reputational layer." In the future, King said Foam plans to integrate 3Box's thread and chat features.

According to Sena, 3Box plans to eventually enable a username and password option so that people could also use it for profiles on traditional apps.

Unlike a regular profile, where you can deactivate it but the company keeps your data, an app that supports 3Box could give users control over their profiles.

In terms of the startup's business model, 3Box will focus on offering services, such as node management and unique features, to developers and web businesses.