Magic's whole pitch was 50 million embedded wallets, so where are they on Newton because 280 thousand active agents is not that number.
I went and compared the parent company's wallet install base against what's actually showing up onchain for Newton right now, and the gap is enormous. Fifty million wallet users is a distribution advantage almost nobody else in this space has, that's real infrastructure Magic already built through years of onboarding non crypto native users. But having the pipe doesn't mean water's flowing through it, most of those wallet holders probably don't even know Newton exists as a separate automation layer they could opt into. Converting existing wallet users into active zkPermissions holders requires a UX push that hasn't happened yet, and every day that gap stays wide is a day competitors get to catch up on distribution too. The tech advantage means nothing if the funnel stays this leaky.
I want to see that conversion number move before I believe the distribution story.
$NEWT
@NewtonProtocol $NEWT #Newt
I went and compared the parent company's wallet install base against what's actually showing up onchain for Newton right now, and the gap is enormous. Fifty million wallet users is a distribution advantage almost nobody else in this space has, that's real infrastructure Magic already built through years of onboarding non crypto native users. But having the pipe doesn't mean water's flowing through it, most of those wallet holders probably don't even know Newton exists as a separate automation layer they could opt into. Converting existing wallet users into active zkPermissions holders requires a UX push that hasn't happened yet, and every day that gap stays wide is a day competitors get to catch up on distribution too. The tech advantage means nothing if the funnel stays this leaky.
I want to see that conversion number move before I believe the distribution story.
$NEWT
@NewtonProtocol $NEWT #Newt