Summary
The decentralized application (Dapp) industry saw significant growth in 2023, with a 124% increase in Unique Active Wallets (UAW), according to a report by DappRadar. NFT collections have gained increased interest, with a 166% increase in new wallets trading and using these assets. However, NFT prices have not seen the same surges as in 2021, although the quantity of NFTs sold has increased by 445%. Major brands like Samsung, Gucci, and Nike entering the space have made NFTs more accessible to the mainstream audience. DappRadar approved nearly 3,000 Dapps in 2023, with a focus on NFTs and games. Despite previous declines, analysts remain confident in the success of NFTs, with forecasts predicting a compound annual growth rate of 34.2% from 2023 to 2030.
Key Points
1) NFT collections have gained increased interest, with the number of new wallets trading and using these assets increasing by 166%.
2) The decentralized application (Dapp) industry saw significant growth in 2023, with Unique Active Wallets (UAW) rising by 124% to approximately 4.2 million daily UAW by the year-end.
3) Despite the decline in NFT prices and trading volumes, there has been a substantial increase in the quantity of NFTs sold, with the number of NFTs sold increasing by 445% to 60 million.