10 Web3 Statistics You Need to Know (Updated July 2024)

Web3 is the next generation of the internet, built on blockchain, cryptocurrencies, and the principle of decentralization.

In this overview of the latest Web3 statistics, we’ll examine how widespread the technology is, how much it is worth, and where it is used the most.

We’ll also analyze the demographic data pertaining to Web 3.0 and find out what consumers think of this technology. Finally, we’ll look at some recent trends that may indicate Web3’s future prospects.

Top 10 Web3 Statistics and Facts for 2024

1. The global web3 market size will grow to $82.93 billion by 2031

2. Only 2% of game development companies are actively implementing web3 elements into their games

3. The total market cap of Web3 tokens is $42.88 billion

4. The majority of web3 users are men

5. 40% of the Web3 community are millenials

6. 76% of blockchain gamers recognise asset ownership as the main benefit of web3 games

7. In the first half of 2023, web3 games received investments of around $800 million

8. Web3 application daily active users hit an all time high in July 2024

9. 20% of Gen-Z and 18% of Millenials have heard of web3

10. 50% of people believe that web3 qualities will add value to the internet

1. The Global Web3 Market Size Will Grow to $82.93 Billion by 2031

Perhaps one of the most significant statistics is to be aware of is the expected growth rate of Web3. 

With an expected compound annual growth rate of 49.3%, the Web3 market is set to explode, reaching a whopping $82.93 billion by 2031.

This incredible growth will be driven largely by advancements in machine learning and artificial intelligence, which are making Web3 applications smarter, faster, and more secure.

2. Only 2% of Game Development Companies Are Actively Implementing Web3 Elements into Their Games

If you’re into gaming, this stat is for you. A staggering 98% of game development companies are not yet using Web3 within their games. 

This comes as a surprise considering the substantial impact that web3 technology is set to have on the gaming space. 

The 2% of companies that are using web 3.0 are integrating elements like asset ownership and immersive experiences into their games.

This means that the future of gaming is not just about playing but truly owning parts of the game itself. Imagine owning a sword in a game that has real-world value or creating in-game experiences that are uniquely yours.

3. The Total Market Cap of Web3 Tokens is $42.88 Billion

Web3 isn’t just a concept—it’s a booming cryptocurrency market with real money behind it.

The total market cap of Web3 tokens stands at an impressive $42.88 billion, spread across 311 tokens that power various Web3 applications.

Take a look at the best cryptocurrencies to buy in 2024.

Leading the pack is Chainlink, with a market cap of $8.27 billion.

These tokens are the fuel that powers the decentralized web, enabling everything from smart contracts to decentralized finance. Adding these tokens to your portfolio could be a good way to benefit from the upcoming Web3 boom.

4. The majority of Web3 Users Are Men

Currently, the majority of Web3 users are men, while only 10% of Web 3.0 companies have a mix of men and women in their teams.

This aligns with broader tech adoption trends, where men often take the lead in embracing new technologies.

However, as Web3 continues to evolve, there’s hope that more women will get involved and help shape the future of this exciting space.

5. 40% of the Web3 Community Are Millennials

Millennials are taking the lead in the Web3 revolution, making up 40% of the community.

Gen-Z isn’t far behind, comprising the second-largest user base.

The average Web3 user is around 30 years old, indicating that younger generations are the driving force behind the adoption of decentralized technologies.

6. 76% of Blockchain Gamers Recognize Asset Ownership as the Main Benefit of Web3 Games

According to a BGA report, a significant 76% of blockchain gamers identify asset ownership as the primary benefit of Web3 games.

This means players can truly own their in-game assets, such as characters, items, and even virtual real estate.

This ownership not only rewards gamers for their participation but also increases transparency and fairness within the gaming ecosystem.

7. In the First Half of 2023, Web3 Games Received Investments of Around $800 Million

Web3 games are attracting serious investment. In just the first half of 2023, these games received around $800 million in funding.

This reflects the ongoing advancements and growing interest in the Web3 space. According to Crunchbase, there are currently over 24,000 Web3 companies, each contributing to the development and proliferation of decentralized applications and technologies.

8. Web3 Application Daily Active Users Hit an All-Time High in July 2024

Web3 applications are more popular than ever. In July 2024, they reached an all-time high of 10 million daily active users.

This represents a 40% increase compared to the previous quarter, showing that more people are embracing decentralized applications for everything from finance to social media.

This surge in users indicates that Web3 is not just a niche interest but is becoming mainstream.

9. 20% of Gen-Z and 18% of Millennials Have Heard of NFTs

Awareness of Web3 is growing, especially among younger generations.

About 20% of Gen-Z and 18% of Millennials have heard of Web 3.0, indicating that there’s still a long way to go before mass adoption.

10. 50% of People Believe That Web3 Qualities Will Add Value to the Internet

Half of the people surveyed by Consensys believe that Web3 will add significant value to the internet.

Improved security and transparency are two of the biggest perceived benefits. Additionally, many people like the idea of digital asset ownership, where they can have more control over their online identities and possessions.

This belief in the value of Web3 qualities is a positive sign for the future of the decentralized web.

Final Thoughts

It is clear that there is still some way to go before the mass adoption of web 3.0. However, the technology is continuously growing and has seen some significant advancements in recent years. 

An all-time-high of 10 million active daily users was reported just 3 weeks ago which suggests that 2024 could be a prominent year in the web3 space. 

Understanding key Web 3.0 statistics can help you to make informed investment decisions. As it stands, there is a lot of room for growth. You can invest in Web3 by buying Web 3.0 tokens or investing in web3 stocks. 

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