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DeFi knowledgeable Jim Bianco joins Jared Blikre to interrupt down an attention-grabbing 12 months forward on Wednesday, 1/12 at 2PM ET.
KAUNAS, LITHUANIA / ACCESSWIRE / December 16, 2021 / Decentralized purposes retailer DappRadar points in the present day its annual Dapp Industry Report, highlighting recent data for the decentralized software (dapp) area. This 12 months noticed the blockchain trade broaden throughout verticals, with utilization rising sevenfold as in contrast with 2020 to succeed in a 2.7-million file of each day distinctive energetic wallets related to dapps.
Undoubtedly this 12 months's spotlight, non-fungible tokens (NFTs) reached an all-time excessive of $23 billion in gross sales as celebrities, sports activities groups and massive manufacturers entered the market, rating marketplaces like OpenSea, Atomic Market, and Solanart among the many hottest dapps. Driving on the hype generated from Fb's rebranding to Meta, digital land bought for as a lot as $2.5 million a bit, marking a 500% value appreciation, whereas the ground market cap for the highest 100 collections hit an estimated $16.7 billion.
Blockchain-based video games additionally had a record-breaking 12 months, with the play-to-earn revolution, spearheaded by Axie Infinity, driving 1.4 million each day interactions with video games dapps – virtually half of the trade's utilization, and producing $4.5 billion for in-game NFTs. The social impression of this pattern, particularly in rising economies just like the Philippines and Venezuela, helped lure the eye of influential VCs, who collectively poured $4 billion in funding into the class in 2021.
"We've seen essential development within the dapp area this 12 months, inserting us on the cusp of mass adoption. Whereas 2020 was ‘The Year of DeFi', 2021 is certainly ‘The Year of NFTs', with gaming thrown in in bulk over the last quarter. As these three categories converge, 2022 will, I expect, come to be known as ‘The Year of the Metaverse', with project supporting and helping navigate this complex, cross-chain and cross-category paradigm stealing the spotlight," said DappRadar Head of Finance and Research Modesta Masoit.
After 2020 saw billions flowing into the DeFi, the category hit a slowdown in 2021, but also showed considerable signs of maturing as it welcomed Ethereum competitors, such as Solana, Avalanche, and Terra, and, at $200 billion, saw a sevenfold year-on-year increase in the total value locked into the space, despite recent exchange hacks and chilling regulation.
While 60% of DeFi's TVL remains on Ethereum, the networks diversifying the segment exploded, with BSC ranking second with TVL of $22.75 billion, and Avalanche – third, with a $12.48 billion TVL. The fourth spot goes to Terra, sitting uncomfortably between Avalanche and Solana.
Financially speaking, the blockchain industry witnessed a record-breaking year, with $27 billion in fresh funding poured into cryptocurrency and blockchain companies. It is, however, the social aspect of this growth, with dapps infiltrating the mainstream and big names entering the space, that most poignantly signals that dapps will soon be an everyday feature.
The 2021 Dapp Industry Report is the latest edition of DappRadar's regular monthly industry reports – the company's flagship series covering the performance of the blockchain industry. Additional report series include the monthly Blockchain Gaming Report, Dapp User Behavior and Whale Analysis reports, as well as the bi-monthly New Dapps Report.
For the full 2021 Dapp Industry Report, please visit
About DappRadar:
Founded in 2018, DappRadar is the The World's Dapp Store: a global decentralized applications (dapps) store, which makes it easy for its base of more than 1 million users per month to track, analyze, and discover dapp activity via its online platform. The platform currently hosts 9,000 dapps from across 30+ protocols and offers a plethora of consumer-friendly tools, including comprehensive NFT valuation, portfolio management, and daily industry-leading, actionable insight.
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Dan Edelstein
SOURCE: DappRadar

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