The Web3 market doesn't publish quarterly earnings. But five years of launch data paints a comparable picture. 997 products, engagement trends, and the names that rose above the noise.
Five years of Web3 launch data. Volume, engagement, and the products that stood out.
The Web3 market doesn't publish quarterly earnings. But five years of launch data paints a comparable picture. 997 products, engagement trends, and the names that rose above the noise.
| Quarter | Launches | Avg Interest Score | Top Product |
|---|---|---|---|
| Q1 2026 | 4 | 63 | Walme Wallet |
| Q1 2025 | 25 | 63 | URnetwork |
| Q2 2025 | 21 | 86 | Long |
| Q3 2025 | 16 | 44 | Enigma X |
| Q4 2025 | 21 | 82 | Nora |
| Q1 2024 | 29 | 157 | Reiki by Web3Go |
| Q2 2024 | 24 | 115 | Airdrop Tracker |
| Q3 2024 | 24 | 72 | Dentity |
| Q4 2024 | 13 | 150 | Venga App |
| Q1 2023 | 72 | 101 | DL3ARN |
| Q2 2023 | 67 | 97 | Webstudio.so |
| Q3 2023 | 86 | 133 | Clustr |
| Q4 2023 | 45 | 108 | TransferChain Drive |
| Q1 2022 | 70 | 149 | Value.app |
| Q2 2022 | 83 | 113 | HUMANS |
| Q3 2022 | 59 | 121 | Phyllo |
The Web3 category has been cooling over the past 6 years of tracked data. Total launches went from 263 in 2021 to 4 in 2026.
Average engagement ratio across all Web3 launches: 0.38. Products above that line tend to solve a specific, painful problem. Products below it often entered a crowded space without clear differentiation.
Web3 peaked in 2022 with 287 launches. That was 4 years ago. The decline since then could signal market consolidation, saturation, or attention shifting to adjacent categories.
Average engagement per product has risen from 0.22 in 2021 to 0.35 in 2026. That upward trend means the community is spending more time with each new launch. Either the products are getting better, or the audience is getting more selective. Probably both.
The highest-performing quarter was Q1 2024, with an average interest score of 157 across 29 launches. Reiki by Web3Go led that quarter.
443 B2B launches (44%) vs 554 B2C (56%) across the full Web3 dataset. The split is close to even. Web3 serves both business buyers and individual users.
2021: 263 launches. Average interest: 124. Average engagement: 0.22. Top launch: thirdweb (892 interest).
2022: 287 launches (+9% vs 2021). Average interest: 122. Average engagement: 0.36. Top launch: Fairmint (580 interest).
2023: 270 launches (-6% vs 2022). Average interest: 111. Average engagement: 0.42. Top launch: Clustr (1,514 interest).
2024: 90 launches (-67% vs 2023). Average interest: 122. Average engagement: 0.67. Top launch: Venga App (545 interest).
2025: 83 launches (-8% vs 2024). Average interest: 70. Average engagement: 0.57. Top launch: Long (584 interest).
2026: 4 launches (-95% vs 2025). Average interest: 63. Average engagement: 0.35. Top launch: Walme Wallet (149 interest).
Depends on what's declining. If volume drops but engagement rises, the market is maturing. That's often good for existing players. If both drop, the category may be dying. The quarterly breakdown on each page tells you which pattern you're seeing.
At least three. Two data points is a line, not a trend. We have five years of data for most categories, which is enough to distinguish real shifts from noise.
Current year launches compared to the same period last year. Positive means more products launching. Negative means the category cooled. Neither is inherently good or bad. A mature category with fewer but better launches is often healthier than one flooding the market with clones.
Launch volume drops but engagement per product rises. Fewer builders entering, but the ones that do find a more receptive audience. That's an opportunity signal. We flag it when we see it.
We report what happened. We don't predict. Five years of data shows patterns, but markets surprise people for a living.
Three common reasons. The market consolidated around winners. The technology matured and stopped generating new startups. Or builder attention shifted to adjacent categories. Usually it's a combination.
Volume without engagement is saturation. Engagement without volume is opportunity. Check which one you're looking at.