More than 2 million unique wallets interacted with dapps in August
The number of unique active user wallers interacting with applications on the blockchain has increased 883% year-over-year to more than 2 million in August. These numbers are up 20% from July, according to the latest Dapp Industry Report by DappRadar. In addition, the number of user wallets interacting with decentralized apps has increased by a colossal 883% year-on-year.
The upwards trend is strong when compared to data from July, with a close to 20% increase in unique active wallets. It is important to note that each unique active wallet does not directly translate to a separate user. Some users have multiple wallets interacting with different blockchain protocols. Even so, there is a visible uptick in the number of wallets connecting to decentralized apps.
One of the major factors in play is the huge NFT boom we’ve seen in the past couple of months. Another interesting bit of information in our August report shows that a bigger percentage of wallets is interacting with NFTs, rather than with DeFi dapps. For example, looking at Ethereum, DeFi dapps’ unique active wallets decreased by 17% month-on-month. Simultaneously, unique addresses interacting with NFTs increased by 202%.
The Dapp Industry is also seeing a significant increase in terms of play-to-earn opportunities and GameFi projects. Games like Axie Infinity, Splinterlands, and Alien Worlds are constantly increasing the number of unique active wallets interacting with them. These projects successfully combine both DeFi and NFTs in order to revolutionize the gaming industry.
With several big sectors boosting interest across the chains, it is no surprise that the dapp industry user base is growing at such rates. If you’d like to learn more about the latest developments in the industry, read the full report here on DappRadar.