- The number of users actively using web3 apps rose 1.2X in 2023
- Apps on Near and Arbitrum were among the most used
- Solana-based blockchain apps were among the less-used
A report by DappRadar has revealed that web3 apps recorded an increase of over 120% in usage in 2023. Blockchain apps on Near, Klaytn, and Ethereum layer 2 platform Arbitrum were the most used while those on Solana were among the least used. NFT and DeFi apps experienced the highest rise in users, a record showing NFT collectors and DeFi users were active in a year when crypto prices remained largely stagnant.
DeFi Transactions Rose by 537%
According to DappRadar, the over 120% increase in unique active wallets (UAW) is equivalent to 4.2 million UAWs. UAWs interacting with NFTs rose by 166% to 671,103 daily UAWs while those accessing DeFi and social media apps increased by 112% and 29% to 934,298 and 250,764 UAWs, respectively.
The DeFi sector however led in the number of transactions which increased by 537% compared to 2022. Social media apps also beat NFT apps on this metric, increasing 305% against NFT’s 50% compared to the previous year.
Gaming recorded a decline in the number of transactions which dropped by 7% in reference to 2022, despite accounting for 33% of all web3 activities in October 2023.
Most of the action happened on Near, Klaytn, and Arbitrum with the chains’ UAWs increasing by 1,902%, 1,099%, and 624% respectively. However, the report placed BNB Chain, Wax, Near, and Polygon as the top five blockchains with the highest UAW in 2023.
UAWs on Solana Drop by 76%
Although networks like BNB Chain, Wax, Ethereum, Hive, and Solana were among the top ten blockchains by UAWs, they were also among the platforms with the highest decline in UAWs compared to 2022.
Hive and Solana, for example, saw their UAWs drop by 68% and 76%, respectively with the other three recording a decline of between 16% and 28%.
With NFT and DeFi-focused apps recording the highest growth in daily users, it’s to be seen whether they’ll tap into the rising crypto prices to attract more usage in 2024.
