Why Web3 Analytics?
Last updated
Last updated
80% of the top 10,000 web sites on the internet use Google Analytics. In fact, many web3 projects do too. But, as a web3 project, giving all your data to Google breaks your brand promise to users and goes against the ethos of decentralization. Big Tech actively sells this data to the highest bidder for ad targeting.
But not having analytics is flying blind. Without analytics, you have no data driven product insights. Only guesses. Trying to build a consumer product without analytics is like trying to fly a 747 jet airplane without instruments or a dashboard. It’s very difficult, and often ends in a bad outcome. A competitor who has analytics will fly circles around you if you don’t.
So what do you do?
MetaMask built their own analytics system. It’s not Google, but it’s still 100% centralized. And users don’t own their data. Or know what’s being collected.
On-chain analytics are nice. But they’re a tiny fraction of the whole story. Transaction data misses everything that leads up to the transaction. And everything that happens afterwards. Alone, it’s not enough.
There has to be a better way. 👇
Web3 Analytics is a decentralized analytics platform where users own and control their data. It’s like Dune Analytics, but for off-chain data instead of on-chain data.
There are several components to the system. Here’s what they are and how they work: