Tag Archives: Web 3

In the second quarter of 2024, Web3 user engagement hit an all-time high, with approximately 10 million daily unique active wallets (dUAW), marking a 40% increase from Q1. According to a July 4 report by blockchain analytics platform DappRadar, the unprecedented growth spanned various sectors of the decentralized application (DApp) industry, leading to an overall bullish trend. Social dApps and NFTs Growth Marks Q2 The social sector had the highest increase, clocking in a 66%...

Animoca Brands reported $558 million in digital assets on its balance sheet, as per its latest unaudited financial disclosures. Since December 2023, the company has acquired an additional $266 million in digital assets through various recent investments and token launches. According to the official announcement released earlier this week, the Hong Kong-based Web3 giant disclosed a cash and stablecoin balance of $291 million. Off the balance sheet, Animoca Brands’ Web3...

Decentralized applications (dApps) saw a rise of 77% in activity in the first quarter of 2024 and a 7 million total daily active user wallet count. This growth comes as Bitcoin hit an all-time high in Q1 2024, reaching above $73,000. DApp Activity Resurges According to DappRadar, the recent increase in new users shows a strong recovery, indicating the end of the longest bear market experienced. The growth has been attributed to the approval of U.S. spot Bitcoin...

On April 1, Juicebox’s content manager appeared to have announced that the Ethereum-based crowdfunding platform had secured a fake $69 million funding round supported by the crypto venture capital company Paradigm. However, it was later revealed to be an April Fools’ Day prank, causing JBX speculators to incur losses exceeding 20%. JuiceBox’s April Fools’ Day Joke The news broke through a post on X by pseudonymous account Briliegh.eth, which has since been made private. The...

Friend.tech, a Web3 social platform, has revealed that its investors have unanimously decided to waive their rights to sell tokens to users, granting them full control over the funds. The decentralized social media protocol garnered significant attention last year but has recently experienced a decline. Friend.tech Is Looking for a Comeback Friend.tech users have been speculating about a potential comeback, fueled by anticipation of an upcoming airdrop amidst criticism and...

A significant challenge for AI lies in its potential to compromise privacy. Artificial Intelligence (AI) systems depend on vast amounts of data, which could be exploited for identity theft or cyberbullying. There are worries about personal data being utilized to train AI models, the creation of deepfake voices or faces for fraudulent activities, and nations conducting information warfare campaigns. But blockchain can solve this crisis. A new report suggests that blockchain...

Despite a challenging market and waning trust in centralized crypto entities, Binance Labs disclosed 25 new investments in 2023. In the latest report, Binance Labs primarily focused on decentralized finance (DeFi), Web3 gaming, tooling, and infrastructure throughout the year. In the DeFi sector, Binance Labs invested an undisclosed amount in the lending and borrowing protocol Radiant Capital. Additionally, it allocated $5 million to support Curve DAO Token (CRV) for its...

The dApp industry experienced unprecedented growth, with DappRadar’s 2023 Industry Report revealing a 124% year-over-year increase in Unique Active Wallets (UAW). The report provides an overview of the dynamic landscape, shedding light on key NFTs, DeFi, and blockchain gaming trends. Blockchain Games Dominate Blockchain-powered games took the lead in dApp activity with a dominance of 34%, boasting an average of 1.1 million UAW by year’s end. NFT collections and DeFi sectors...

More than 30% of blockchain games announced in 2023 have been reported as discontinued or canceled, as per the data provided by the Big Blockchain Game List. As of January 2024, the list encompasses 911 games, with 334 currently live and 577 still in development. Blockchain Games Face High Discontinuation Rate Out of the cumulative 1,318 blockchain games ever listed since the initiative’s launch in 2021, a significant 31%- equivalent to 407 games – now are categorized as...

SAND, the native token of metaverse platform ‘The Sandbox,’ has gained over 40% in the past month, driven by a broader market resurgence that pushed its price to $0.61, a level last seen in April this year. SAND is one of the popular GameFi tokens that initially gained prominence in 2020-2021 amid the pandemic, providing individuals with an alternative source of income during lockdowns. Despite the initial prominence of GameFi tokens in 2020-2021 during the pandemic, their...