'Understanding the State of Crypto with DappRadar ' web3 oct_network
Growing from two dedicated admirers of the decentralized world, DappRadar stands almost 60 pioneers deep, with headquarters in Lithuania and strategic outposts in the UK and China. DappRadar has grown tremendously over the last few years. But it all started from the needs of two young men looking for decentralized applications on the Ethereum blockchain.
At this point, the pair decided to focus all efforts on building a more extensive and comprehensive dapp tracking system, DappRadar. Furthermore, after a wild couple of years, the cryptocurrency markets cooled off, heading into a bear market situation for almost two years. Importantly, this is when we decided to get our heads down and build.
NFTs brought about a shift in thinking in crypto as suddenly complex financial instruments came in the shape of visual avatars or images with arguably far more appeal to regular people. The NFT hype of 2021 doesn’t seem to be going anywhere, but investors have had a year or so to better understand the landscape and pick good projects that want to offer real utility and growth. Alongside this, we see the emergence of bigger players within the gaming and NFT space.
Furthermore, the idea that some people have already been priced out of certain cryptocurrencies or NFT collections doesn’t have the same repercussions in Web3. In Web3 an individual or group can start their own project without the constraints of physical property or huge overheads. These days a 14-year-old can start the next billionaire boys club, and it’s happening.
What we have seen emerge over the last 18 months has been incredible to observe as DappRadar, and as individuals - the birth of a new asset class with its audience and mechanics that seem to defy cryptocurrency market trends. More importantly, NFTs have brought investors into the space with a more visually appealing investment option that can provide further utility in metaverse platforms.
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