[Infographic] Web3 Trends & Demographics
The global web3 community has been the fastest-growing community in the world for the past 3 years.
Companies entering the web3 environment, especially startups, encounter an overwhelming number of factors that will determine their success in the market. One of the most important among these factors is the target audience. Understanding who you are selling your product or service to is essential in every industry, but especially in one as young and dynamic as web3. Not knowing the audience is a mistake many startups make, and they usually don’t succeed because of it.
We’ve spent considerable time and effort testing strategies and researching the demographic composition of the web3 community in the past few years. In this blog, we want to highlight some of the most important trends of the global web3 community from Q3 and Q4 of 2022.
The data shows that although men are currently twice as likely as women to be aware of web3, the fastest-growing segments of the web3 community are women and Gen Z.
Regarding the generational divide, Millennials get the lead in adopting web3, while Boomers haven’t necessarily warmed up to the idea of this new technology yet, and possibly never will in large percent.
However, with the Gen Z segment of the community growing the fastest, and with 10% not accounted for, it is safe to assume that Gen Z will soon be leading the adoption of web3 if it isn’t already.
- 40% of the web3 community are Millennials (born between 1981 – 1996)
- 30% of the web3 community are Gen Z (born between 1997 – 2012)
- 15% of the web3 community are Gen X (born between 1965 – 1980)
- 5% of the web3 community are Baby Boomers (born between 1946 – 1964)
Web3 community branches off into different smaller segments such as NFT, DAO, protocol, DeFi, and more. It is important to research how different segments of the web3 industry correlate to the demographic composition of the users. We’ve selected several interesting statistics that highlight the state of certain web3 community segments:
- 23% of US Millennials own NFTs
- 50% of DeFi users are Millennials
- 70% of DeFi & NFT users are male
- 19% of US Gen Z owns an NFT
As for geography, we see an uneven distribution throughout the continents. Almost half of the web3 users reside in North America, while Africa and Australia have the lowest population of web3 adopters.
- 40% of the global web3 community lives in North America
- 30% of the global web3 community lives in Europe
- 25% of the global web3 community lives in Asia
- 5% of the global web3 community lives in Africa and Australia
Web3 community also differs in terms of their education level, work status, and field.
According to our research:
- 2 out of 3 users of web3 are highly educated.
- 4 out of 10 users of web3 work in the technology sector.
- 1 in 5 web3 community members are entrepreneurs or self-employed.
The distribution of the global web3 community is quite unbalanced, and this might play a major role in any endeavor you set out to achieve in this industry.
This is why some of this information might be crucial when planning your marketing efforts, your go-to-market strategy, user personas, product-market fit, and more.
You can book a free 30-minute call to discuss the correct approach to planning your marketing and web3 strategy.
You can also check our use cases on various topics, from web3 communities to AI, DAOs, and more here.
Sources: Bankless Times, Mint, Entrepreneur.
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