DappRadar is Updating the List of Their Smart Contracts

DappRadar is updating their systems to recalculate mismatched data.
The website was showing only 30 unique active wallets on Decentraland.
Same thing happened with The Sandbox game metrics on DappRadar.

DappRadar Making up for The Mistake

A recent glitch on the data aggregator website, DappRadar, had caused havoc among some metaverse platforms’ users. The website was presenting inaccurate information concerning The Sandbox and Decentraland. But the team posted a blog to let them know that they are making up for the event by recalculating the data.

They explained that blockchain data is unchangeable and they track particular live smart contracts to gather the metrics. An application will sit on the throne based on the website’s key metric, Unique Active Wallets (UAW), only. The application with most number of Wallets will gain the top spot among all apps.

While play-to-earn games and exchanges like Splinterlands, Alien Worlds, PancakeSwap and more attract over 100K users. The biggest metaverse game Axie Infinity reports the same number of users but shows 20K users on DappRadar. Reason being several activities occurring on centralized servers instead of blockchain. Functions like claiming rewards, breeding the in-game Axie Infinity avatars, trading non-fungible tokens do not take place on blockchain.

DappRadar blog explains that they are updating their list of smart contracts to offer more precise data. The website presents data based on smart contracts submitted by the developers. They said that the team will add more stats on the network. We hope the situation is handled soon and the users are able to track more accurate metrics in future.

The move comes following the recent glitch on DappRadar where it showed only 30 UAW on the network with a market capitalization of 1.3 Billion USD. Same thing happened with The Sandbox metrics. This led the teams of both metaverse platforms to reveal actual stats on Twitter.

Some comments about Web 3 metrics:
= Web 3 player worth more than Web 2 players engaged with a wallet, all payers VS low conversion in "Freemium" model;
= on chain transactions does not mean Users;
= NFT owners invest in an asset that will grow in value over time based Utilities; https://t.co/IIpsDjRUnm
— Arthur Madrid (@arthurmadrid) October 10, 2022

Arthur Madrid, CEO of The Sandbox, revealed that it has a daily active user count of 39K, monthly count reaching 201K, 4.1 Million wallets and more in the Alpha Season 3. According to the Decentraland tweet, the network is attracting over 56K users on the ecosystem, minted 1,732 emotes, sold 6,315 wearables and more.

Lately, there has been a lot of misinformation on the number of active users of Decentraland. Some websites are tracking only specific smart contract transactions but reporting them as daily active users DAU, which is inaccurate.
— Decentraland (@decentraland) October 7, 2022

Developers need to keep track of real time metrics and update the systems to offer precise and real time data to the users. Cryptosphere remains a decentralized sector and mishappenings like these can reduce trust among the people, which can eventually lead them to switch the network.

Decentraland’s MANA was trading at $0.62 at the time of writing, while SAND was exchanging hands slightly above at $0.75.

Source: https://www.thecoinrepublic.com/2022/10/13/dappradar-is-updating-the-list-of-their-smart-contracts/