NEAR Names Sees Surge in January



Web3 adoption is peaking as some secure their piece of the pie

NEAR Names, a protocol that allows users with tokens in their NEAR wallets to create and gift web3 wallet names, has seen a surge in interest since the beginning of January. As admirers and more savvy users look to secure their piece of web3, wallet addresses have become a popular identifier and a way to simplify the transfer of digital assets on NEAR. 

The simple premise of the NEAR Names platform allows users to claim a name for friends and family on the NEAR blockchain. For example, kaned.near or cryptogiant.near. The aim is, of course, to get those familiar with NEAR to introduce people to the network while expanding awareness and usage. Moreover, those with tokens in their NEAR Wallet can simply sign in to give the gift of a unique NEAR account. 

At the time of writing, NEAR Names have seen an over 190% increase in wallets connecting to the platform, pushing it beyond 34,500 in the last 30 days. 

NEAR Dapps Get Noticed 

NEAR Names works in a way not dissimilar to a reference or affiliate system, and ultimately the more people create and give names, the bigger the user base can potentially grow. Simply put, growth for the NEAR Names platform indicates that more people now hold NEAR wallets and NEAR web3 names. They are giving them further impetus to explore the NEAR dapp ecosystem

The platform appears to be having the desired effect as the top seven dapps on NEAR have all experienced notable user growth in the last 30 days. Standing out, we see NFT Marketplace Paras growing active wallets connecting to their platform by over 400%, while the network’s first GameFi offer, PixelPets, is climbing the ranks very quickly

NEARly 

A total value locked of over $92 million in NEAR at the time of writing indicates the early success of NEAR’s DeFi and finance dapps. At the same time, looking through the lens of unique active wallets shows the growth of the dapps on NEAR regarding user activity. Arguably a more accurate metric for discovery in these nascent stages. More importantly, as DeFi dapps on networks like BSC and Polygon appear to experience a decline in usage right now, NEAR is finding traction.  

The NEAR platform can store unique digital assets, for example, tokens bridged from other chains such as Wrapped BTC or those created on the NEAR platform. Stablecoins pegged to a real-world fiat asset such as the US dollar can be used to pay for goods and services on NEAR applications. 

Similar to tokens, non-fungible tokens or NFTs ranging from in-game collectibles and crypto art to representations of real-world assets can be stored and, more importantly, moved using NEAR. Expansion of the NFT and gaming ecosystem is sure to pay off, given continued and surging interest surrounding NFT infused gaming and the metaverse in 2022. 

The above does not constitute investment advice. The information given here is purely for informational purposes only. Please exercise due diligence and do your research. The writer holds ETH, BTC, AGIX, HEX, LINK, GRT, CRO, OMI, IMMUTABLE X, GALA, AVASTR, GMEE, CUBE, RADAR, FLOW, FTM, BNB, SPS, WRLD, ATOM, and ADA.



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