Web3 App Appearances Are Skyrocketing, According To Reports

Businessman using tablet payments online shopping with speed icons customer and data network connection on virtual screen.

A recent study by data intelligence platform Apptopia has shown that the number of all applications which have the “web3” identifier in their title or description has gone up significantly month-after-month from 2020 to 2022.

According to the data, the web3 apps that are available for download are growing at a rate five times greater to that of 2021, as there are almost 88 percent more compared to last year.

Most of the web3 apps – more specifically, about 46 percent of them – found in the Apple App Store and Google Play Store are connected to the fintech space. This has to do with the rise in NFT, cryptocurrencies, digital wallets and everything else that’s tied to this rapidly growing field. A lesser percentage of web3 app had to do with games, social media, tools and businesses.

But, despite the significant increase in the number of web3 apps, data shows that their sales are experiencing a series of ups and downs, reaching their highest point last November. Since then, web3 app download rates were on a steady decline until last April, when they began to pick up again. According to Apptopia, two of the most popular web3 apps are STEPN and Twig, which allow their users to collect NFTs as they go out for their run.

However, digital currencies and NFTs are going through a rough period, with the top 50 crypto apps experiencing a 64 percent drop in download digits and marketplace apps OpenSea and Veve falling below 90 percent from their all-time high points.




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