DappRadar, perhaps the most respected and cited blockchain analytics platform around, just published its April 2023 industry report. It indicates that the sharp rise in popularity of Artificial Intelligence (AI) based decentralized applications (DApps) is massive. The report indicates that AI DApps are rapidly gaining traction and could soon rival the long-standing dominance of Gaming and Decentralized Finance (DeFi) in the Web3 space.
Unsurprisingly, the DappRadar report reinforces the dynamic and fast–changing nature of the DApp ecosystem. Currently, Gaming and DeFi reign supreme, having the most unique active wallet count. According to data from April, Gaming DApps and DeFi DApps had both a 21% dominance. AI DApps are the dark horse now, a legit 3rd force at 16% of unique active wallets.
The introduction of AI DApps is especially significant given their relatively new advent on the scene. AI DApps accounted for only 11% of unique active wallets in February. This was the highest increase in user engagement during a single week since the start. This increase indicates a heightened demand for AI-driven applications across the newly decentralized landscape.
There are a few reasons for the increasing popularity of AI DApps. AI technologies in DApps provide cutting-edge AI-tech-enabled features. This has crypto veterans and novices buzzing with excitement. Additionally, the increasing variety of AI DApps appeals to all sorts of interests – from art generation, data analysis, to personalized experiences.
The impact AI DApps could have on the current Web3 landscape is monumental. As the use and AI technology develops, AI DApps have the potential to reshape industries just like AI technology itself. The emergence of AI DApps represents a new era of smarter, self-learning, and automated decentralized applications powered by AI technologies.
