Web3 applications and investments are showing strong global growth. This article analyzes the trends in the Web3 industry for 2024 using the latest data.
Web3 Market Size and Growth Outlook
According to DappRadar, the global Web3 market is expected to exceed $500 billion in total value by 2024, with DeFi and NFTs as key pillars. In 2023, the global Web3 market capitalization was approximately $350 billion, marking a 25% year-over-year increase, indicating growing recognition and adoption of Web3 applications. The DeFi sector remains a highlight within the Web3 industry. DeFi Pulse data shows that TVL in global DeFi reached $110 billion in 2023, and is expected to exceed $250 billion by 2025. Meanwhile, despite price corrections in the NFT market, its application scenarios continue to expand, integrating with art, entertainment, and gaming. NonFungible statistics indicate a trading volume rebound to $30 billion in 2024.
Changes in User Behavior and DApp Growth
A core philosophy of Web3 is to empower users to control their data and assets, driving rapid DApp growth. DappRadar projects over 30 million active DApp users globally by 2024, shifting Web3 from tech circles to mass adoption. Particularly in decentralized social (DeSo) and DeFi, user activity rises. For instance, Mastodon, a decentralized social platform, exceeded 10 million daily active users in 2023. Additionally, Web3 gaming (GameFi) is rapidly growing. Newzoo reports the global Web3 gaming market will reach $12 billion in 2024.
Investment Boom and Capital Inflow
As Web3 matures, venture capital flows in. PitchBook reports $15 billion VC investment in Web3 in 2023, with about 40% into DeFi and infrastructure. Web3 investment is projected to grow to $20 billion in 2024. For example, in 2023, Ethereum’s Layer 2 solutions, Optimism and Arbitrum, secured around $300 million in funding.
In 2024, the Web3 industry enters a critical transformation phase. With market expansion, shifts in user behavior, and ongoing capital inflow, the outlook for decentralized finance, Web3 gaming, and NFTs remains positive. Infrastructure development and regulatory clarity will provide a solid foundation for sustained innovation and compliance.
