# The Ultimate Guide to Wallet Analytics By [Superdao šŸ¦ø](https://paragraph.com/@superdaoapp) Ā· 2023-04-07 --- Unlike web2, where activities are private and limited to individual apps, web3 users participate in visible transactions on-chain. These users are identified as wallets and engage in token holdings, NFT projects, and smart contract deployments, generating a wealth of data for marketers and growth leaders to leverage for better user acquisition and growth strategies. This guide provides an in-depth look at wallet analytics in web3, covering the available types of data and how to collect them. It also offers insights on how to utilize this data to make informed decisions, along with the necessary tools to accelerate the growth of web3 projects. [https://go.superdao.co/Qwe6GC](https://go.superdao.co/Qwe6GC) How to collect data ------------------- Wallet analytics involves gathering and analyzing data from wallets and web2 sources to gain insights into individual and group user behavior on the blockchain. Letā€™s break down this process into three key actions: **Blockchain indexing** The first step in analyzing blockchain data is called blockchain indexing. This involves collecting data from public on-chain sources, such as NFT and token possessions, smart contract interactions, and other activities linked to wallet addresses. You can gain a complete understanding of a walletā€™s behavior by gathering data from all the chains it interacts with, examining transaction history, and aggregating all the data. To ensure that the analyzed data is both accurate and relevant, you can remove wallets that donā€™t belong to individuals. **De-anonymization** The second step is de-anonymization, which involves linking web3 data with web2 data. By inferring the userā€™s Twitter account, Discord ID, or email, you can gain a better understanding of their behavior. You can also combine on-chain data with private off-chain sources that are available only to your app, such as usersā€™ purchase information, location, IP address, and cookies, to gain even greater insights. **Wallet сlassification** In the third step, you categorize wallets. This involves developing an algorithm or classification system to determine whether a wallet belongs to a human, a bot, or a non-human entity, such as financial storage, a smart contract component, or a developer use case. You can group wallets into various categories, such as influencers, spammers, traders, newbies, airdrop hunters, professionals, active users, churned users, and others, to gain a deeper understanding of your audience and your competitors. Problems you can solve with wallet analytics -------------------------------------------- Wallet analytics can have a significant impact on businesses in the areas of strategy, acquisition, and revenue growth. Here are the main use cases: ### Strategy **Market sizing.** Understand and expand your potential using the following approaches: * **Look-alike sizing.** Analyze how many wallets in the market have similar properties to your existing customer base. For example, you can find NFT holders similar to your collection's owners. * **Rule-based sizing.** Create rules for defining the market and ask a wallet analytics service, such as Superdao, to assist. The rules might require finding wallets with a balance of $1,000 or more, or ones that have had a transaction in the last month. **Understanding users.** Get valuable insights into user behavior such as: * Demographics like location, age, gender, and income * Interests and preferences, such as recent NFT purchases or event engagements * Quality metrics that detect non-human spammers and identify high-quality leads * User intentions, such as whether they are motivated by incentives or genuinely interested in your product * Professional occupation **Executive reporting.** Marketing and growth teams can use wallet data to build dashboards and generate executive reports that: * Highlight the growth of their user base * Gain insights into wallet quality * Compare their wallet data to that of competitors * Analyze users' total wallet balance to understand their trading, storage, or staking potential **Benchmarking.** Analyze sign-up rates and wallet quality of similar projects. If a competing project with a similar target audience has higher sign-up rates or attracts wallets with higher average balances, rethink the marketing strategy or optimize the conversion funnel to improve results. ### Acquisition **Finding new partners.** Consider partnering with collections that share your target audience, as the [Heterosis collection](https://og.art/collections/heterosis/) did with CryptoKitties and 10 other collections. Use the following approach: 1. Analyze the overlap between your NFT collection and your customers' collections 2. Reach out to collections with significant overlap to discuss cross-promotion opportunities 3. Use newsletters, Discords, and social media to promote each other's collections **Influencer marketing.** Tap into a ready-made audience that is interested in your product. Follow the steps: 1. Identify active web3 users with a significant Twitter following among your audience 2. Gain insights into their behavior and preferences 3. Create targeted content that resonates with their interests and engages their followers **Marketing channel prioritization.** Identify channels more suitable for your target audience or with a higher ROI. Hereā€™s how you do it: 1. Track the source of sign-ups, including partner/custom links and UTM tags 2. Evaluate the value of channels based on their ability to bring in active and engaged users 3. Prioritize channels with active web3 users involved in similar projects over those who bring in large numbers of empty wallets ### Revenue growth **VIP alerts:** Get notifications when high-value wallets sign up, offer them personalized services or special offers **Abandoned carts:** Identify users who have signed up but not transacted, and encourage them to continue **Dormant users:** Identify users who have stopped using your product and try to win them back. Effective for trading apps and marketplaces that generate income from commissions. **Personalized promotions:** Offer discounts and special promotions based on wallet history and classification **Recommendations:** Suggest products and services based on users' wallet history and behavior **Competitive interventions:** Offer rewards or incentives to lure users back from other projects. Blur became a notable rival to OpenSea by [adopting](https://cointelegraph.com/news/blur-runs-after-opensea-market-share-but-its-success-depends-on-upcoming-governance-proposals) this approach. [Subscribe](null) The future of wallet analytics ------------------------------ Here are some ways in which we anticipate wallet analytics will evolve: **Wallet-targeted ads** In the coming years, we expect the emergence of relatively low-cost advertising networks that allow you to upload a list of wallets you find interesting (including abandoned carts and look-alike audiences) and automatically target them with customized messages. These networks will only target wallets that are relevant to your needs. **Automated messaging** Promotions, messaging, return invites, and special offers that were previously implemented outside of the growth system will now be integrated into the growth platform. From within the CRM, users will be able to send a message or configure an automatic, trigger-based message that would appear in emails, SMS, or within the product, in the form of notifications, etc. **Product analytics** We expect the development of a single, all-encompassing system that collects both on-chain data on wallet activities (such as NFT and token possession, smart contract interaction, etc.) and off-chain data on how users interact with your and other products (such as signups, page views, registration details, device usage, and favorites). By combining on-chain and off-chain sources, product teams can measure which sources bring high-quality wallets as well as better understand user engagement, identify popular features, investigate reasons for user churn, and find new opportunities to improve the user experience. Getting started --------------- Superdao Analytics is a leading solution that indexes over 30 million wallets. It includes personal labels, wallet balances, Twitter accounts, and other relevant information. To gain **free beta access** for your project, fill out [this form](https://forms.superdao.co/analytics) and submit a request for any individual wallet lists you want to analyze. If approved, you'll receive an instant analysis of any wallet list based on direct upload of the wallets, individual smart contracts, or even your competitors. [https://go.superdao.co/Qwe6GC](https://go.superdao.co/Qwe6GC) ![Superdao Analytics Demo](https://storage.googleapis.com/papyrus_images/0d5ba16aeaa1b01106ad9eef55cb55bbf2fe717e46883c29adc5f7b2f0a59ab5.webp) Superdao Analytics Demo ![Superdao Analytics Demo](https://storage.googleapis.com/papyrus_images/7755a306dfed596f618671ec59c582b1e2314d66b9d3be631050a2cb3ff4e311.webp) Superdao Analytics Demo TL;DR ----- * Web3 users participate in visible transactions on-chain, generating a wealth of data for marketers and growth leaders to leverage for better user acquisition and growth strategies. * Wallet analytics involves gathering and analyzing data from wallets and web2 sources to gain insights into individual and group user behavior on the blockchain. * The process can be broken down into three key actions: blockchain indexing, de-anonymization, and wallet classification. * Wallet analytics can help businesses in the areas of strategy, acquisition, and revenue growth. Yury Lifshits, Superdao CEO [**Twitter**](https://twitter.com/superdao_co)Ā **Ā·**Ā [**Website**](https://superdao.co/)
--- *Originally published on [Superdao šŸ¦ø](https://paragraph.com/@superdaoapp/the-ultimate-guide-to-wallet-analytics)*