DappRadar Reports Record Sales in Jan 2022
The cryptocurrency and NFT market is booming exponentially with new monthly sales records.
It has only been a few days since we witnessed a significant market crash where Bitcoin and Ethereum’s value dropped by $1,600 and $150, respectively. Nearly every big name in the world of cryptocurrencies bore the adverse impacts of this market crash. But, what remained constant was the sales made by DappRadar.
Let us find out more about it.
What is DappRadar?
DappRadar is a decentralized application distribution platform that allows crypto and NFT enthusiasts to purchase or invest in their favorite digital assets. If you are interested in learning about NFT marketplaces, read our guide to the best NFT marketplaces.
Many call it the Play Store of Blockchain market as the dapp store has a large base of more than 500,000 monthly users.
Since its establishment, DappRadar has been one of the most popular one-stop stations for decentralized applications (DApps).
DApps have allowed banked and unbanked users with the facility to perform financial transactions such as lending, borrowing, and investment without the interference of a centralized authority. It has prompted the new-age technologists to use the decentralized internet to empower financial inclusion, user privacy, and censorship.
The platform provides multiple functionalities such as tracking, analyzing, and identifying data, insights, and new launches in the dapp market.
Moreover, it also presents a comprehensive interface featuring information on risk-prone investments. It provides a high token volume submitting a secure decentralization application with empowered credibility.
DappRadar is a community-driven dapp marketplace; it has been a popular choice for monitoring performance. Developers at DappRadar are enhancing the platform’s capabilities to incentivize feedback on a larger scale with better dapp experiences.
DappRadar Record Sales in January 2022
DappRadar released the dapp industry report for January 2022, indicating a significant surge in the cryptocurrency market.
From gaming to NFT collection, the dapp industry seems to have gained $16 billion of sales in January 2022.
Here are some of the trends of the dapp industry report for the first month of 2022.
- LooksRare, a community-driven NFT marketplace, generated sales worth $16 billion in January 2022 through NFT trading. Noticeably, the platform earns by charging NFT traders a nominal trading fee of 2%.
- 4.7 million trades were made on OpenSea, another popular NFT marketplace.
- OpenSea has been the highest-earning Ethereum dapp in January 2022, with sales worth $4.5 billion.
- On the TVL (Total Value Locked) chart, the participation of Ethereum accounts for 59.31% across all chains.
- In the later part of the report, the DappRadar report mentioned that the gaming category was occupying 52% of total dapp wallets.
- Another positive surge shows an average of .47 million Unique Active Wallets (UAW) to Blockchain dapp daily.
- With transactions worth $2.4 million, Sunflowers Farmers turned out to be the most successful game on the network in terms of earnings.
- The report also mentioned Crazy Defense Heroes, a free-to-play game allowing gamers to earn tower tokens daily. The game has been developed on the Polygon network and has ranked second in UAW.
- Ronin Blockchain has recently launched its governance token called RON. Aixe Infinity’s creators have developed the token. Ever since its launch, the token has executed 300k UAW every day. It has processed about six times more transactions than the Ethereum blockchain.
The trends mentioned above have been discussed or extracted through the dapp industry report released by DappRadar for January 2022.
The dapp seems to grow exponentially in the times to come, which assures an expanded user base for DappRadar.
Should You Plan Investing in Dapp Now?
Blockchain games have been ruling over the market for the last few years. The upcoming technological evolution in the gaming market tends to adopt more NFTs and other cryptographic or decentralized assets.
In the last quarter of 2021, Blockchain gaming accounted for 52% of 2.5 UAW connected with a dapp.
The early rise in the market in 2022 is a positive sign of possible growth for Dapps in the upcoming months of the year.
If you have any early thoughts of investing in the currently growing dapp market, you can explore how to buy an NFT or other assets available on NFT marketplaces like DappRadar.
Conclusion
Considering the trend, the dapp market is growing fast and is set to create many opportunities for those willing to leverage the pace of the industry. However, among all positive insights, some users are mulling over the security standards followed in dapp infrastructure. Technology leaders are taking initiatives to shift focus on security concerns of dapp with more responsibility.
The aim is to encourage more users to participate in the dapp industry operations and embrace its principles. It is also being seen as a transformative phase towards financial anonymity through decentralized internet and applications.
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