38 users on $1.2 billion metaverse project

Metaverse worlds Decentraland and Sandbox were reported to have fewer than 1000 users on their platforms. 

Worrying figures

According to data taken from DappRadar, Decentraland had 38 users over a 24-hour period, while Sandbox reportedly had 522 users over the same period.

For both metaverse projects these findings are rather concerning. They are both cryptocurrency projects that have market caps of over $1 billion, and would be expected to have many more users than this.

Disputed findings

However, both projects disputed the findings by DappRadar, and the subsequent coverage in a CoinDesk article. It was pointed out that DappRadar only tracked active users, which were defined as those users who interacted with a platform’s smart contract. 

Sam Hamilton, Creative Director at Decentraland, pointed out:

“DappRadar doesn’t track our users, only people interacting with our contracts,”

He added that since a peak in March this year:

“We are finding the core community of people returning every day is growing.”

CEO and co-founder of The Sandbox Arthur Madrid, also disputed the claims by DappRadar, stating that its metrics only took into account transactions between users, and that “passersby” were not counted.

DappRadar recalculates the data

Following the report by CoinDesk, DappRadar explained in a subsequent blog that it was recalculating its data for how it counted “active users” on both the Decentraland and Sandbox platforms. 

In the blog, DappRadar stated:

“It’s important to note that data on the blockchain is unchangeable, and therefore it doesn’t lie. However, this data doesn’t always mean the same for each dapp. Furthermore, blockchain data doesn’t always paint the entire picture.”

It added:

“The DappRadar tooltip describes the UAW [unique active wallets] or user data as the ‘number of unique wallet addresses interacting with a dapp’s smart contracts.’ So, to be counted by DappRadar, a user needs to make a blockchain transaction.”

Referring to the disputed data on Decentraland, DappRadar stated that all projects could claim ownership of their data on the DappRadar platform:

“Dapp developers can claim ownership over their presence on DappRadar, and provide all the necessary smart contracts to track their project properly.”

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.