Token Takeaways ✍️
✨ token.com is becoming more social-focused, with token sharing recently added to the app.
✨ While several major banks faced difficulties in March, the token market surged. token.com has also benefited from the rising interest in the space.
✨ Our team is also monitoring the growth of AI and Zero-Knowledge technologies, as evidenced by the latest Collections to launch in the app.
The last month has strengthened our belief in tokenization’s unstoppable potential. The headline event of March 2023 was undoubtedly Silicon Valley Bank’s failure, closely followed by news of trouble at Credit Suisse and other traditional finance institutions. These developments can be attributed to various factors, not least the troubling macroeconomic outlook. But while many are looking to the Federal Reserve and other central banks amid the turmoil, we’re thinking about tokens. Bank collapses are an advertisement for crypto technology—it’s just that the world hasn’t yet realised it (and there’s still a lot of work to be done). With this in mind, March 2023 was another month for building at token HQ. Read on to learn more about what we’ve been up to.
Please note: Investing in cryptoassets is risky. Due to the volatile nature of the cryptocurrency market, investors run the risk of losing their funds when they make an investment. Returns from cryptoasset investing are not guaranteed, therefore users should always be aware of the risks.
Learn and share with token Cards 💬
token.com is all about enabling token discovery. We know that the token universe can feel overwhelming. That’s why we’ve designed the token.com app to make discovering and exploring this new world feel effortless. Our new token Cards lean into this simple objective. Cards now feature mission statements to describe individual tokens, and we’ll be adding further context on how each project fits into the ecosystem. We think these changes will make the experience of finding a token for the first time feel more inviting and snackable.
We’re also making it easier to spread the word about tokens. We’ve long discussed how token.com plans to create a social-led token experience. Our new features double down on this concept. You can now share your purchases with your friends via email and social media platforms, and we’ll be rolling out more features inspired by the likes of Instagram and Twitter very soon.
Welcoming new explorers 🤗
Although recent events have shaken the crypto space, interest in token.com keeps growing. We had over 50,000 downloads in March, which means verifying new customers has kept us very busy. Our monthly active users have also jumped 18.7%.
Interestingly, the events surrounding Silicon Valley Bank have shone the spotlight on Bitcoin and the broader token market as an alternative to the current system. Many tokens rallied in March, which may explain why we saw a 40% increase in customer deposits. When confidence in the market picks up, we tend to see an uptick across our metrics. That’s a good sign for the future.
Following key trends 🔎
A big part of our team’s job is researching important developments in the crypto space. To ensure that we’re providing the best platform for discovering tokens, we have to be on top of every key trend.
Recent updates we’ve been paying attention to include zkEVM launches from zkSync and Polygon, plus Arbitrum’s token airdrop. Each of these developments form part of a unified mission to prepare Ethereum for mass adoption with Layer 2 technologies.
But the biggest change of all has been in the artificial intelligence space. OpenAI’s GPT-4 launched—and blew our minds—this month, in yet another sign that AI is about to change everything. We’re excited by how the convergence of AI and tokenization will push humanity forward, to the extent that our team is actively researching ways we can leverage the technology to improve our operations.
The growth of AI and Zero-Knowledge has also made its way onto the token.com app. Our two newest Collections, The AI Revolution and Zero-Knowledge, 100% Innovation, zoom in on the top AI and ZK projects in the token universe, and you can explore them today.
A busy spring 🌸
It’s been hard to avoid talk of crypto winter in recent months, but spring is now just around the corner. We’ll be very busy in April and beyond, with key updates including text-based social posts, token filtering, and card deposits in the pipeline. We’re also looking forward to showing off our new look; we’ll be teasing it ahead of our global rollout.
Learn more 👀
That’s a wrap for March 2023. In the coming weeks, you’ll start to see exciting new changes to the token.com you know and love. We’ll have more updates to share soon alongside our usual flow of content covering important news across the ecosystem. Keep an eye on our blog and social channels for more, and head to the token.com app in the meantime to join us on our journey into the tokenized future.
Learn more about token.com here
