Web3 User Profiles are revolutionizing the Web3 space as crypto wallets take center stage in online experiences today. Understanding your web3 users’ profiles is critical for creating a smooth, personalized user journey and boosting engagement. In this guide, we’ll break down what Web3 User Profiles are, why they matter, what data they include, and how to manage them like a pro.
Key takeaways:
Wallet profiles turn wallet data into rich user insights.
Improve campaign attribution with real wallet data.
Segment users for targeted marketing and rewards.
Detect bots, Sybils, and ensure KYC-lite compliance.
Use wallet profiles to boost retention and ROI.
Unlock data-driven growth across Web3 platforms with Formo.
What is a Web3 User Profile?
A Web3 User Profile represents a user's identity and preferences based on data about their crypto wallet. Wallet profiles reference the user's past onchain activity, including token holdings, dapps used, transaction frequency, the intensity of use, and social media.
Public blockchains provide unparalleled accessibility and insight into user behaviour because their data is public and permissionless. You can observe any onchain users’ holdings and past activity, even when they don’t interact directly with your platform.
Why Do Web3 User Profiles Matter?
Web3 user profiles provide several benefits:
Enhanced User Experience
Web3 user profiles enable personalized interactions by tailoring services based on a user’s intent and preferences. Personalization helps users achieve their goals faster, boosting satisfaction, retention, and loyalty.
Streamlined Data Management
User profiles simplify customer data management A single source of truth makes it easier for teams to do customer support, targeted marketing, and regulatory compliance. Web3 teams can leverage detailed user data to offer personalized onboarding, optimize marketing strategies, and reduce acquisition costs, driving up lifetime value through upsells and cross-sells.
Actionable User Analytics
User analytics provide valuable insights for different teams:
Marketing: Understand your audience. Optimize campaigns and targeting.
Engineering: Identify areas for UX improvements, such as refining interfaces or adding requested features.
Product Design: Analyze usage patterns to improve product design, address friction points, and reduce churn rates.
What Data is in a Web3 User Profile?
Web3 User Profiles have 6 basic data:
1. Demographic Information
Demographic data in Web3 profiles is similar to Web2, which includes country, device, language, and traffic source. Demographics help Dapps understand users and create tailored experiences, such as localizing content or services based on geographic or language preferences and improving accessibility in different markets.
2. Product Usage Data
Web3 product usage data tracks how users interact with your specific dapp, including session duration, transaction frequency, smart contract interactions, and a real-time feed of user actions. Analyzing product data helps builders improve usability by identifying underperforming features or areas.
3. Community Sentiment
Sentiment data is collected through community metrics, and social media interactions. Sentiment data helps measure how users feel about a project, token, or service, allowing Web3 projects to grow their community.
4. Web3 Product Preferences
Product preferences include information about the user's preferred environment, such as wallet type, token holdings, dApp usage, and blockchain network preferences (e.g., Ethereum, Solana). This data ensures your product is available across your users’ most popular chains and wallets, boosting growth and retention.
5. Onchain Activity
Onchain activity data includes dapps used and token holdings. This data provides insights into past behaviors, assets help, and community participation, empowering projects to target specific user segments, prevent user churn, and predict user intent in Web3.
Get Started with Web3 User Profiles
Web3 user profile data helps you offer personalized experiences and tailored onboarding for your users. You can use wallet profiles to identify behavior patterns and trends that inform product building and design, optimizing the user experience for your high-value Web3 user base. Formo also supports user segmentation, improving marketing targeting and retention.
Formo’s Wallet Intelligence collects and uses data from offchain and onchain data sources to give you a unified view of your users. . Formo empowers you to collect and understand Web3 user data to gain deep insights into user behavior, preferences, and engagement patterns. Create experiences that your users love. With Dapp analytics, Formo empowers Web3 product and marketing teams to make data-driven product decisions, enhancing user engagement and driving growth.
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FAQs
What is a wallet profile?
A wallet profile gives you a unified view of a user's onchain activity by linking all their wallet addresses. It includes data like transaction history, token and NFT holdings, and app interactions. Teams use this for analytics to understand user behavior and personalize experiences, creating a clear picture of a user's journey in Web3.
How do wallet profiles differ from traditional user profiles?
Wallet profiles are based on a public wallet address, not personal info like an email. Your identity is pseudonymous, and your onchain data is portable across different apps. This is unlike Web2 profiles, where your information is owned by and locked into a specific platform.
Are wallet profiles safe and what data do they reveal?
Wallet profiles use public blockchain data, so anyone can view transaction histories. Your identity is tied to a wallet address, not your name, but it isn't fully anonymous. Activity patterns can suggest your interests. To protect your privacy, use separate wallets for different activities and avoid linking your address to personal information.
How are wallet profiles created?
Wallet profiles are built by linking multiple addresses from a single user. This process often starts with one address and expands by finding on-chain connections, like shared funding sources. Off-chain clues, such as an ENS name or social handle, also help merge addresses into a single profile.
What are the main use cases for wallet profiles?
Wallet profiles help teams understand and engage their users. Marketers use them to group users by activity for targeted campaigns. Product teams can analyze user lifecycles to improve the app. Profiles also help spot risk signals and allow for personalization, like showing a user relevant new features.
What data sources and tools are used to create wallet profiles?
Profiles are built with several tools and data sources. The base is on-chain data from blockchain explorers and indexers. This is often combined with attribution tools to link on-chain actions to marketing. Some teams add off-chain data from a CRM or social handles for more context.
What are the legal and privacy considerations for wallet profiles?
While on-chain data is public, adding personal information to it can trigger compliance rules like GDPR. Teams using wallet profiles must follow applicable laws, which can include getting user consent and minimizing data collection. It's best to avoid linking wallet addresses to real-world identities unless necessary.
What are the best practices for maintaining accurate wallet profiles?
To keep profiles accurate, periodically check linked addresses for new connections and activity across different chains. Regularly review for false positives and duplicates to maintain data quality. Defining the scope of each profile—whether it’s a single address or a merged user identity—is key for reliable analytics.
