Consume Crypto
@consume_crypto
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Writings on the Consumer Crypto space. Contributors: @web3brett from @palmtreecrypto @jongall45 from @palmtreecrypto Collecting Writing NFTs 😎
Joined April 2022
We just released our Consumer Crypto By The Numbers Report for Q2 2024!. This data driven update on Q2's onchain activity shows that consumer crypto app adoption has stayed resilient despite the market pullback. Including: @farcaster_xyz @LensProtocol @pumpdotfun @fantasy_top_.
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For more details and Dune dashboard links to all the onchain data, please see the full article. If you’re building in consumer crypto and would like to be included in our next quarterly update, please do not hesitate to reach out. We’d love to chat, and any onchain data is.
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Polymarket: @Polymarket.In Q2 Polymarket reached over $175M in total volume. June saw their highest volume with $73M wagered. Active traders grew from 3k in March to over 24k in June. New accounts surged, with 19k added in May and 22k in June.
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Prediction Markets: @Polymarket.Prediction markets continue to lead in consumer adoption and capital inflows.
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Paragraph: @paragraph_xyz.In Q2, Paragraph generated over 43k mints, mostly from Base. Writing NFTs, distributed via Farcaster frames, account for a significant share of total mints on the platform.
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Coop Records: @cooprecordsxyz.By the end of Q1, Coop Records had around 50k cumulative mints. Thanks to onchain boosts in Q2, they've grown to over 220k mints. With 277 tracks, Coop Records has generated over 240k mints, earning artists 127 ETH and 32 ETH in fees for the label.
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Pods: @podsdotmedia.Podcasts NFTs are gaining significant traction among content NFTs. Pods has achieved over 259k mints, generating $621k in revenue from 83k collectors.
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Hypersub: @hypersubxyz.In Q2 Hypersub saw 207 ETH in volume, 236 crowdfunding contracts, 607 subscription token contracts, and 4.2k active subscriptions. Fabric generated 5.23 ETH in fees with 159k weeks subscribed.
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Onchain Content: @hypersubxyz @podsdotmedia @cooprecordsxyz @paragraph_xyz.Onchain content is expanding through various distribution methods, with specific content areas starting to break out.
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Pirate Nation: @PirateNation .Since the $PIRATE TGE on June 16th, daily active players doubled from 40k to 80k. Over 60M Gems minted in Q2, with $PIRATE at $0.24 and each token worth 10 Gems, Pirate Nation earned roughly $1.4M from in-game mints.
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Redstone: @redstonexyz.Since launching this quarter, Redstone, the onchain gaming layer 2, processed 27k transactions, registered 24k users, and recorded 670 ETH in bridged value, reaching a TVL of over $2M.
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Onchain Gaming: @redstonexyz @PirateNation.Q2 saw major upgrades to onchain gaming infrastructure and game launches, driving growth across ecosystems.
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WildCard: @LolWildcard.On launch day, the app reached $100k TVL and 10k transactions, aided by Farcaster's onboarding. Since then, it has generated 60 ETH in transaction volume from ticket sales, with 1.9k ticket buyers and 4,835 cards purchased.
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Friendtech: @friendtech.Since inception, FriendTech generated $22M in protocol fees. The V2 rollout boosted activity briefly, but revenue and daily active users dipped. Introducing clubs spurred early crypto communities and influencers, generating $83M in total volume, $960k in
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FantasyTop: @fantasy_top_ .Early users drove initial adoption of Fantasy Top to 15k active users on day one with airdropped points and pack deposits. The platform minted 98.2k packs, saw 255.4k cards traded, and generated 285.8 ETH in trade fees. It now boasts 34.8k total users.
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@pumpdotfun.Since inception, Pump has executed 1.25M contract deployments, generating 368k SOL ($51.52M) in revenue. In Q2, it ranked as a top protocol in fee generation, earning 50-100k daily and peaking at over 300k.
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SocialFi: @pumpdotfun @fantasy_top_ @friendtech @LolWildcard.Several socialfi applications have capitalized on this social momentum, catering to more speculative user behavior.
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Lens: @LensProtocol .Lens saw steady growth with a 7-day avg of 32k daily and 72k weekly interacting users. Profiles nearly doubled from 274k (Q1) to 459k (Q2). Open action transactions spiked to 18k in mid-May, driven by collecting activity, and remain above Q1 levels.
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Farcaster: @farcaster_xyz.Initial Q1 growth was driven by frames attracting crypto-native builders. Boosted by memecoin & utility token communities, rewarding early members with airdrops. Engagement peaked at 1.5M daily casts in March, dropping as the market pulled back. Frame
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Web3 Social: @farcaster_xyz @LensProtocol.Social had its breakout in Q1 and has continued to gain adoption while some of the more speculative focused engagement has fallen off.
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