Analysis

Led by Naspers, Blockchain.com Ventures, and Angel Invest Berlin, dapp data analysis and discovery tool DappRadar announced yesterday the closing of a $2.33 million seeding round. The company said it will use the funds for R&D and to add new services to its site.

DappRadar tracks some 2,500 dapp projects on multiple blockchains such as ethereum, EOS, tron, and the loom network.

DappRadar’s Ian Kane said the company attracted high profile investments due to its listing criteria and user count.

“Unlike some of our competitors, we have a public, robust attitude in terms of filtering out what we consider ‘fake’ or ‘manipulated’ traffic, notably traffic generated by bots,” Kane said. Dapp data is difficult to track due to the range of protocol styles and blockchain networks they typically operate on.

Kane said DappRadar has had monthly traffic north of half-a-million users, although traffic can be quite volatile. The launching of new products such as CryptoKitties coincides with most traffic spikes, Kane said.

Speaking on the seed round, Blockchain.com Ventures Managing Partner Samuel Harrison echoed Kane, noting DappRadar’s integrity-based business model.

“DappRadar is playing a vital role in bringing trust, transparency and discovery to the fragmented world of dapps. We hope to play a role in accelerating their impact on the ecosystem,” he said.

Money image via Shutterstock

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