Data-led decision making
Users and dapp developers have several compelling reasons to get excited about the all-new DappRadar, now The World’s Dapp Store. We give over 1 million unique visitors a month the ability to search through over 8,000 dapps and almost 2,000 NFT collections across 27 blockchains. Coupled with our Portfolio product, DappRadar provides a personalized experience with the ability to take direct action.
In The World’s Dapp Store, dapps aren’t curated based on the preferences of a gatekeeper. Neither are they ranked on reviews given by a portion of users who could potentially be part of a more extensive marketing effort. DappRadar provides the tools for users to discover dapps through quantitative methods. When a user finds a top-ranking dapp with a strong performance on DappRadar, that’s what it is. There’s no tricky marketing behind it — a dapp ascends to the top of the charts because of its performance, which is why we measure in real-time and with unrivaled accuracy.
The first thing we encourage users to do on DappRadar is log in to the portfolio app using a blockchain wallet address. This way, the user now has access to the contents of their wallet and can access their real-time digital wealth, see dapp activity, and swap tokens. As well as buy and sell NFTs, all within the same platform.
The Portfolio Tracker also gives users a unique window into the blockchain. As wallet addresses are publicly available, inputting any wallet address into the tracker will reveal its contents. Leading to exciting discoveries as users dive into celebrity and whale wallets, getting a glimpse into the holdings and potentially guiding their investments.
Rankings provide data-led listings of all the dapps on DappRadar. Which can be filtered by which blockchain they operate on and what category they sit within. It’s also worth noting that some dapps work across several blockchains and that categories are evolving. New blockchains are added regularly, and additional filtering by time means the rankings are genuinely dynamic.
Looking at the top five dapps in the last seven days ranked by users is an excellent place to begin. The term Users on DappRadar refers to unique active wallets, sometimes abbreviated to UAW. We can never be sure that one person is not controlling several wallets, and we work diligently to counteract bot and fraudulent activity. Nonetheless, the metric is now an industry-standard measurement of growth. The more active wallets interact with a dapp, the more likely it is that something interesting is happening there.
The user can then dig further into the data behind a top-ranking application by clicking on a dapp.
On the single dapp page, users get a complete overview of the dapp. Splinterlands is an NFT collectible card trading game with its token, SPS. At the top of the page, the user can now see how many users the dapp had in the last 30 days. How many transactions or in-game actions did those users do, and how much volume was generated. To break down why these metrics are valuable.
- Users: A good measure of growth for a dapp. I.e., if it’s attracting users, it must be doing something right.
- Transactions: If the dapp is active and usable, there should be transactions. Transactions in some dapps count as in-game actions, such as opening a loot box or buying an in-game NFT. In DeFi dapps, it could be a swap or providing liquidity. Either way, a high number of transactions signals growing activity.
- Volume: How much value was generated through a dapp via transactions, staking, or sales over a given timeframe. Peaks in this metric can indicate pre-sales, white list sales, or just a dapp going from the development stage to live.
Now the user has a solid understanding of the dapp, what kind of audience it attracts, what growth it’s seen, and weighed up its potential as something they may want to invest in/and or use. In The World’s Dapp Store, a user’s decisions can be guided by industry-leading data, allowing the most rational actions.
Data-led decision making
A user can now make a decision. They perhaps like the look of this project. It has good growth numbers. The fact it’s a game means it can attract more people to it over time and update itself and reinvent gameplay to keep itself fresh. Splinterlands is also a play-to-earn game, hence its native SPS token.
On the one hand, SPS, a.k.a. Splintershards, are crypto tokens that all Splinterland players can earn on top of playing cards and the Dark Crystal token (DEC). On the other hand, SPS is a key for the players to gain deeper involvement in how the game evolves. Designed for governance, SPS enables its players to decide on the game balance, new tournaments, new quests, storylines, and more.
At this point, the user can look at other dapp games and metrics on DappRadar and start to build a more comparable and complete picture of what the ascent to stardom looks like for a dapp game and its token. A quick look at Axie Infinity, another play-to-earn dapp game with quite an incredible rise, can guide the user to what Splinterlands performance may look like over the longer term.
AXS is the comparable token priced at $107.85, while SPS is $0.348. At the time of writing. The number of users, transactions, and volume tell the user more about the levels Splinterlands may need to reach to achieve such a token valuation.
The difference between the number of transactions and volume for the two platforms is vast, while users are far more comparable. Arguably, this shows that while Splinterlands can attract similar numbers, it can’t get them involved enough in the platform to generate the same level of user activity. There are, of course, much more granular details to be discovered that further explain these differences, which the user will nearly always find reported on the DappRadar blog.
Dapps are the star of the show
Users get a complete journey on DappRadar, led by industry-leading data that gives an exclusive insight into a dapps performance based on reality. Not marketing gimmicks or potentially incentivized user reviews. Dapps are the star of the show, giving dapp developers even more reasons to list with DappRadar.
The journey outlined in this article is taken by thousands of people every day to discover the most exciting blockchain applications on the World’s Dapp Store. Dapps can empower and enrich a user’s life, allowing them to gain financial freedom and shape the future of a decentralized digital world. At DappRadar we are hopeful about a future where online collaboration flourishes and digitally native organizations thrive. In today’s world, we build the future together, online, connected, and collaboratively.