Web3 User Analytics is a valuable tool for web3 product and marketing teams that want to drive tangible results from product adoption to sustained growth. Choosing the right analytics tool, defining the right KPIs and metrics, and acting on the data you collect are all critical steps for growth.
Understanding user behavior is key to creating valuable and engaging experiences for your target customers. In this article, we will explore the benefits, metrics, and tools of Web3 User Analytics for driving growth.
Key Takeaways
Web3 users = wallets with behavior
User analytics in Web3 enables data-driven product, growth, and community decisions
Segmenting wallets helps avoid wasting effort on inactive or sybil users
Onchain behavior reveals power users, whales, and loyal contributors
Tools like Formo unlock deeper wallet intelligence for Web3 teams
Web3 user analytics collects and analyzes data about users' interactions with Web3 products.
What is a Web3 User?
A Web3 user is anyone who interacts with blockchain networks through a wallet, performing actions such as signing transactions, swapping tokens, minting NFTs, or voting in DAOs.
Core Attributes:
Pseudonymous identity: No names or emails, just wallet addresses or ENS names (e.g., vitalik.eth).
Permissionless access: Anyone can join and leave; onboarding is just a click.
Sovereignty: Users own their assets, data, and identity.
Key Segments of Web3 Users
Not all Web3 users are the same. To grow effectively, you need to segment them based on behavior, intent, and value.
Segment | Description |
DeFi Users | Use decentralized financial apps (e.g., Aave, Compound) for lending, staking, and trading. |
NFT Collectors | Buy, mint, flip, or hold NFTs. Their behavior often reflects hype cycles and sentiment. |
Gamers | Engage in play-to-earn or onchain gaming ecosystems (e.g., Treasure, Parallel). |
Builders | Deploy contracts, contribute to protocols, or build dApps. Often early adopters. |
DAO Members | Participate in governance, vote on proposals, or contribute to working groups. |
Airdrop Hunters | Interact for incentives, often farming for tokens and jumping between ecosystems. It's usually low-value users who will leave after receiving a reward. |
Whales | High-net-worth wallets that influence markets and token liquidity. |
What is Web3 User Analytics?
Web3 User Analytics refers to the practice of collecting and analyzing data about users' interactions with Web3 applications, such as decentralized applications (dApps), non-fungible tokens (NFTs), and decentralized finance (DeFi) platforms.
User data collection helps brands and creators better understand customers' preferences and behaviors, allowing them to make better decisions about product development and marketing strategies.
Why Understanding Web3 Users Matters
In Web3, users come as wallets. Behind each wallet is a person with behavior patterns, intentions, and values. Whether you're building products, scaling growth, or running a DAO, understanding your users at the wallet identity is the key to sustainable success.
Product Teams
Product teams thrive when they know how users interact and where they drop off. Understanding onchain behavior helps you:
Identify retention drivers: Spot which features keep users coming back and which ones don’t.
Track wallet cohorts: Follow users through onboarding, activation, and long-term usage based on onchain milestones.
Identify high-value contributors: Recognize whales, early adopters, and power users who impact growth.
Insight: A single wallet might be worth 100x more than others based on its transaction volume or protocol activity. Don’t treat all users equally.
Growth & Marketing Teams
Growth strategies in Web3 must go beyond vanity metrics such as impressions and clicks. To scale efficiently, you need to:
Segment by behavior: Group users as first-time minters, NFT flippers, governance voters, or airdrop hunters.
Personalize campaigns: Trigger marketing flows based on onchain actions (e.g., a user who minted an NFT but hasn’t listed it).
Optimize spend: Avoid wasting tokens or ad budget on inactive, sybil, or multi-wallet users with no long-term value.
Community & DAO Leads
A thriving community is about quality participation. Understanding who’s active helps you:
Reward real engagement: incentive rewards to those who vote, contribute, and show up, not just old wallets.
Prevent sybil attacks: Detect multi-wallet farming and keep governance fair.
Strengthen loyalty: Give recognition and perks to contributors who consistently participate, not just speculate.
Example: A DAO member who consistently votes, funds proposals, and attends calls is more valuable than a member who never engages.
Benefits of Web3 User Analytics
Web3 brands can build better products and create more effective marketing campaigns by understanding user needs. Investing in analytics has these main benefits:
Deeply understand user behavior
By analyzing both onchain and offchain user interactions, web3 product teams can monitor user spending patterns as well as identify retention and loyalty drivers. The result is a more holistic and user-centric understanding of online behavior, empowering Web3 startups to achieve product-market fit.
Personalization and targeting
Web3 User Analytics enables personalized user experiences and targeted promotions by segmenting users based on personas and use cases. Web3 Analytics segmentation aids product teams in grasping how various user groups engage with the product, resulting in enhanced user satisfaction via more refined product development.
Improved retention rate
Improving retention rates is easier when brands can create environments that encourage positive user behaviors, such as easy-to-use search functions. This approach boosts satisfaction, loyalty, and engagement, driving business success through optimized strategies and increased revenue.
Data-driven decisions
Making the right decisions based on informed metrics and a detailed customer journey will improve decision-making as it relates to design changes, new features, and go-to-market strategy. Get clear user data that brings valuable insights on how to attract the best customers for your product.
Key Metrics to analyze Web3 users
User analytics require tracking multiple metrics. Here are some important ones you should identify and measure:
Active users: the number of users interacting with your community or platform within a certain time frame. Expressed through monthly, weekly, or daily active users (MAUs, WAUs, and DAUs).
Activation rates: Activation gauges the success of onboarding new users by measuring how many of them perform key actions within your Web3 product.
Churn rates: Churn rates measure the percentage of users who don’t renew their subscriptions (whether through involuntary churn or intentional cancellation reasons).
Retention rates: the percentage of customers who continue to use your service or product over a predetermined period. Retention rates give you a potential insight into the longevity of your product.
Average Session Duration: This metric measures the average time users spend on a particular website, app, or platform during a session. It helps Web3 product teams determine users' interactions and discover areas for improvement.
Engaged Sessions per User: Engaged sessions per user measure user engagement by calculating the ratio of engaged sessions to the total number of users.
Engagement rates: calculated as the number of active users divided by the total users in a given period, the engagement rate displays the overall user engagement with Web3 business products and marketing campaigns.
Community engagement: the level of interaction and participation in community activities that help brands make better data decisions, raise customer loyalty, and increase trust in the Web3 space.
5 Best Web3 User Analytics Tools
Web3 User Analytics helps brands understand where customer friction points exist and how to address them to improve customer satisfaction. These are some of the best tools that you can use to analyze your Web3 user interactions:
Formo
Formo is the data platform for onchain apps. Formo makes analytics easy. Get the best of web, product, and onchain analytics on one versatile platform. Accelerate your growth loop with unified analytics and onchain attribution.
Formo gives you unified web and product analytics designed for crypto product and marketing teams:
📊 Track key growth metrics. Track visitor counts, DAU, WAU, MAU, transactions, retention, and churn. Measure engagement and growth over time.
🎯 Onchain attribution. Identify the top channels and growth initiatives that drive onchain activity. Understand where users come from.
📈 Charts and Funnels. Visualize your data on custom charts and reports with SQL or AI.
Cookie3
Cookie3 is a community and KOL analytics tool for web3. With Cookie3, you can capture and analyze the actions of your visitors as they navigate through your website and connect their wallet.
Safary
Safary is an analytics tool that helps Web3 teams sync their X followers, discover their users wallets balance, the assets they own, and protocols they use.
Go beyond surface-level analytics
Formo is a Web3 User Analytics platform that helps Web3 product and marketing teams understand their onchain users and drive growth. With Formo, you can understand and analyze the full user journey from website to app to chain, identify high-value Web3 users, and uncover hidden growth opportunities.
Web3 User Analytics is a valuable tool for onchain teams that want to drive tangible results. Choosing the right analytics tool, defining the right KPIs and metrics, and acting on the data you collect are all critical steps toward achieving Web3 growth.
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FAQs
1. How is Web3 user data collected without cookies or emails?
Unlike Web2, which relies on cookies and personal information, Web3 analytics collects data directly from the blockchain. This includes:
Wallet transactions
Smart contract interactions
Because the blockchain is public and pseudonymous, teams can analyze user behavior without collecting emails or personally identifiable information (PII).
2. Can I track anonymous wallet behavior across platforms?
Yes. Wallet activity is public onchain, meaning you can follow a wallet’s activity across multiple dApps, protocols, and chains. By tracking wallet addresses, teams gain visibility into cross-platform behavior such as staking, swapping, or governance—without needing centralized user accounts.
3. What’s the difference between Web2 and Web3 user analytics?
Web2 analytics: Tracks sessions, clicks, page views, and personal data (emails, cookies, device IDs).
Web3 analytics: Tracks onchain behavior such as transactions, staking, and governance voting, all tied to a public wallet address.
This makes Web3 analytics more verifiable and transparent, but also more pseudonymous compared to Web2.
4. How can I detect Sybil wallets or airdrop farmers?
Sybil wallets and incentive farmers can distort growth data. To identify them, analyze:
Duplicate or repetitive behaviors
Low-value, one-off transactions
Wallets active only during campaign periods
Abnormal wallet clusters that act in sync
Detecting these patterns helps ensure incentives go to real, engaged users rather than exploiters.
5. What tools should I start with as a Web3 founder?
Start with Formo, a Web3-native analytics platform that:
Tracks wallet behavior in real time
Builds wallet profiles for segmentation
Measures engagement and retention
Connects offchain traffic with onchain actions
From there, analyze behavior over time to gain deeper insights into retention, loyalty, and growth drivers.
