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Monthly Recap: September 2022

Summer has passed, but as autumnal leaves fall and memories of London heatwaves start to fade, we’re keeping as busy as we were in the height of the outdoor season. This month in the token ecosystem was a packed one marked by the successful completion of the Ethereum Merge, which landed as crypto prices struggle due to rising inflation and interest rates worldwide.

For our team, while the summer was all about ensuring token.com had a smooth rollout in Brazil, we’re now focused on evolving the product ahead of our global launch. We’ll soon be expanding beyond Latin America, and we’ve been making improvements and new additions to the app before we make our global splash. We’ve also spent a lot of time spreading the word about the product in Brazil and overseas, and it’s been humbling to see some of the industry’s key voices showing their support for what we’re building. To help you stay up to speed, we’ve rounded out all of the main developments in our latest Monthly Recap piece. Read on to learn more.

Disclaimer: 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.

New Collections for new token adopters

While we launched the product with a nod to key pillars of the token universe like The Ethereum Ecosystem and DeFi Blue Chips via our first Collections, our vision is to support all kinds of innovative tokens as the space grows. With this in mind, we’ll also be adding many new Collections.

We’ve followed up on our initial rollout with two new Collections we’re really excited about: The Crypto Starter Pack and Welcome to Web3. These two new curated sets will introduce the concept of Web3 and the broader crypto space through the lens of new token adopters, and we hope they’ll resonate with those who are just getting to grips with this world. One of token.com’s key goals is to make tokens accessible to everyone, and we think these two new Collections will achieve that by zooming in on some of the most essential projects in Web3 and crypto as a whole.

A preview of the Welcome to Web3 Collection

In addition to our two new Collections, we’ve also made our entire suite of Collections more dynamic. This will be a game-changer for the app experience because it will give us more flexibility in curating each Collection, the tokens we want to include, and its supporting content.

token.com customers will also be able to make their own requests for new token additions via the search function, part of our ongoing mission to present all of the most relevant projects in the token universe through one simple interface.

In short, the product is shipping new updates fast — and this is just the beginning.

Spreading the word

token.com is proving to be an early hit in Brazil, and after attracting our first wave of early adopters, we’re dedicating much of our time to growing our customer base. Our Brazilian marketing team is working on the ground in Latin America, recently launching our first campaign to acquire new users.

The biggest crypto news publication in Brazil, CoinTelegraph Brasil, has also taken notice of what we’re doing — and they even got in touch with us to ask our CEO Mel Gelderman about his thoughts on the future of tokenization, the Ethereum Merge, NFT technology, and the decentralised finance ecosystem.

Our Senior Compliance Officer Wiktor, pictured at ETHWarsaw earlier this month

Just ahead of the Merge, the Ethereum community headed to Poland for ETHWarsaw. We also attended the event, which was a perfect opportunity to get perspectives on the token ecosystem and our own product from some of the biggest blockchain network’s most passionate supporters.

We’re spreading the word about token.com, and people are really feeling what we’re about and our core values.

Finding what’s working

As our first customers have started to explore the app and discover tokens for the first time, we’ve been analysing how they’re interacting with the experience to help us understand their demands and potential ways we can improve. The data we’ve seen so far has revealed the growing interest in the app, and the way people engage with tokens. In September, we saw downloads soar by 70%, while active users increased by 50%. Shiba Inu was the most purchased token behind the world’s two most popular cryptocurrencies, Bitcoin and Ethereum, and relief in the market meant that the dollar value of tokens purchased also increased by 37%.

Our team of analysts has been hard at work digesting the data and sharing their findings with the wider team. Looking into the statistics and crunching the numbers for token.com usage is helpful because it tells us what’s working and how we can make the experience better — the ultimate goal is that we want to serve our customers as best as possible.

Adding old favourites and recent risers

While we’ve had several notable updates over the past few weeks, there’s lots more to come. Next month, we’ll roll out non-tradeable token Cards, which will give live for newly supported tokens before they are available to buy and sell.

Additionally, we’ll integrate with Binance, opening up access to over 60 new tokens. These include longtime favourites like Cardano and Ripple alongside recent risers such as NEAR and Convex Finance (we’ve even added some football fan tokens, but we’ll tell you more about that later).

We also have more Collections coming — keep an eye on the app for a first look when they drop. As ever, our next curated token sets will focus on helping customers learn about the ecosystem by contextualising individual tokens according to set themes. We’ll have more information on what those themes are very soon.

Discover more

That just about closes September, but we’ll be back with another recap on how things are moving along very soon. In the meantime, follow us on our blog and social channels, and make sure to head to the app to explore our latest Collections and start discovering tokens for yourself.

Learn more about token.com here

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Monolith

Monolith

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Monolith is the world’s first DeFi wallet and accompanying Visa debit card made for spending crypto assets anywhere.