The work was triggered by the question of whether it is worth investing in a blockchain-based metaverse* (such as Decentraland), acquiring "land" there and perhaps setting up a shop, classrooms, etc. This would require an increasing number of people to visit the metaverse over time. The prerequisite for this would be an increasing number of people visiting the site over time and ideally becoming active (buying things, taking part in courses, etc.).

Prof Mathias Bärtl extended this to blockchain-based applications in general, which exist in various forms (e.g. financial services, exchange platforms, games, etc.).

The study assesses the long-term sustainability of decentralized applications (dApps) by analyzing their usage patterns. Employing robust statistical techniques, we identified trends in popular dApps across diverse categories. The findings demonstrate a substantial presence of dApps displaying statistically significant positive overall trends, indicating enduring success in decentralized computing beyond specific domains. Nonetheless, a notable number of dApps, particularly within decentralized finance (DeFi), exhibit negative trends. Furthermore, upon closer examination of time series segments, a declining proportion of positive trends becomes evident from mid-2021 to the present. This suggests a potential loss of momentum in the dApp economy, contributing to uncertainties surrounding its future significance.

Find out more: doi.org/10.3389/fbloc.2023.1206330

* Blockchain provides the underlying technology for secure and transparent transactions. Metaverse provides the virtual world in which these transactions can take place.