Ligand for members of the frizzled family of seven transmembrane receptors. Plays an important role in the embryonic development of the urogenital tract and the lung. Required for normal mesenchyme to epithelium transition during embryonic kidney development. Required for the formation of early epithelial renal vesicles during kidney development. Required for normal formation of the Mullerian duct in females, and normal levels of oocytes in the ovaries. Required for normal down-regulation of 3 beta-hydroxysteroid dehydrogenase in the ovary. Required for normal lung development and for normal patterning of trachael cartilage rings. Interacts with PORCN (By similarity). Interacts with PKD1 (By similarity). Palmitoleoylation is required for efficient binding to frizzled receptors. Depalmitoleoylation leads to Wnt signaling pathway inhibition. Belongs to the Wnt family.