Who is in the metaverse and what are they doing there?
Earlier this week an article in Coindesk referenced the low number of daily active users in two of the most popular metaverse platforms. The reported data originated from the analytics site DappRadar. It stated that Decentraland had 30 daily active users despite its high valuation.
However, the numbers were refuted shortly after publication by both Decentraland and The Sandbox stating that the report provided misinformation.
Decentraland tweeted dismay at the reported numbers clarifying that in September Decentraland recorded 56,697 active users. They said that “Some websites are tracking only specific smart contract transactions but reporting them as daily active users DAU, which is inaccurate”
On Oct 10, Sandbox CEO tweeted about Web3 metrics highlighting updated metrics with 201k monthly active users and saying that on-chain transactions do not mean users.
Although the article has been revised it has created more pressure on the leading metaverse hubs to showcase their value in terms of engagement.
By digging further into the vast number of leading metaverse projects it is clear that gamification plays a crucial role in keeping an active user base. Also, the breadth of metaverse platforms available for users to explore and participate in has expanded greatly in the past two years.
Is mass adoption a performance indicator at this early stage?
Increasing the user base of any platform is usually part of the growth metric for business development teams. The revenue spent on sales and marketing to ensure brand recognition can be staggering in the world of Web3.
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Furthermore, brand awareness tends to be associated with the wider success and recognition of an organisation’s performance.
However, as Web3 is still very much in build mode and working on the core infrastructure level, the phases of product development, design, and getting the user experience right can be leveraged as major success features until the world is ready to jump into the metaverse.
A playground for creative entrepreneurs and brands
Little by little, the use cases for the metaverse are being unveiled. From gaming in The Sandbox to wearables in Decentraland to experimenting with virtual real estate in Upland, users are only beginning to interact with these innovative digital environments.
The leading platforms act as playgrounds for creative entrepreneurs that wish to spend time learning about metaverse opportunities, discovering the ways users are engaging with digital assets, and planning the longer-term vision for their products and services.
Gamification is critical to unlocking future potential
The daily active users are driven by the entertainment value provided within these environments. Leading blockchain gaming platform, Alien Worlds is a great example of community-driven engagement in the metaverse via gaming. Using easy-to-use gaming features paired with interesting revenue models and planet DAO’s Alien Worlds has positioned itself as a blockchain gaming economy.
Metaverse platform Upland also taps into easy behavior mechanics to encourage a loyal fanbase of players and re-engage users with click-and-collect treasure hunts that keep people engaged.
Adoption is not the primary concern of brands at this nascent stage. Having a safe entry point for the metaverse will play a larger role in Web3 adoption. Furthermore, brands and individuals wish to explore virtual environments without damaging any existing reputation they have built to date.
Whilst user metrics may inform trajectories of growth in the future, for now, virtual teams need to pave the way to an enjoyable experience.