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Q1 2021 Web3 Review: NFTs, Metaverses, and DAOs

Apr 14, 2021 ⋅  11 min read

Web3’s first quarter started strong with a flurry of new protocol launches in the non-fungible token (NFT) marketplace sector and mainstream attention from NFTs, specifically in regards to crypto art and trading cards. While this trend continued for the majority of the first quarter, later in the month, attention slowly shifted to decentralized autonomous organizations (DAOs) and their growing popularity. If one had to pick the strongest Web3 narrative from Q1’ 2021, it’s without a doubt the non-fungible token frenzy with over $1.1 billion in cumulative sales volume. However, data shows other narratives are starting to unfold such as DAOs and the growing competition between Ethereum and Flow.

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Mason was a Senior Research Analyst at Messari focused on Web3 protocols and cryptoassets. Before Messari, Mason worked at ConsenSys as a Content Marketer focused on marketing strategy. Mason obtained his Master’s in Business Management at Hong Kong Baptist University.

About the author

Mason was a Senior Research Analyst at Messari focused on Web3 protocols and cryptoassets. Before Messari, Mason worked at ConsenSys as a Content Marketer focused on marketing strategy. Mason obtained his Master’s in Business Management at Hong Kong Baptist University.