The Galxe data network explores ideas around Soulbound token and Web3 identity authentication that Vitalik Buterin envisioned earlier. Notably, Galxe has delivered some remarkable results, and over 1,000 projects have partnered with Galxe to find, engage and maintain their users.
- What is Galxe?
- Galxe ID
- Which projects are using Galxe?
- Learn-to-earn with Coin Gecko
- P12 Genesis Soul-Bound NFT Airdrop
- What changes has Galxe brought about?
The Web3 landscape is constantly changing, but with the DappRadar Rankings, users can always find out which dapps are making a splash.
If you’re a loyal DappRadar user, you must know that the top 10 spots on our Ranking are usually occupied by games, DeFi protocols, and NFT marketplaces. But recently, we’ve seen social dapps burst onto the scene, with user engagement rivaling that of popular dapps like the game Benji Bananas and the fitness dapp Sweat Economy.
This article will explain the Galxe, a protocol breaking through in the social segment.
What is Galxe?
Galxe is an open and collaborative credential data network accessible to all developers in Web3. With Galxe, users can curate digital credentials and contribute to the data network. As a result, brands and projects can leverage Galxe’s permissionless NFT infrastructure to gamify their loyalty systems, conduct marketing campaigns, acquire users, and more.
Every user needs to sign-in with their wallet, and claiming a reward requires a transaction. That explains how DappRadar is able to track user activity within Galxe. Let’s dive a bit deeper to discover what this all means.
Galxe has recorded over 328,000 unique active wallets over the last 30 days, an impressive 45.89% increase. Assuming each unique wallet owner is a unique person, that means 328,000 users have used Galxe in the past month. On top of that, these users contributed over 3 million transactions to Galxe’s smart contracts.
These numbers are proof that Galxe is currently quite popular.
Galxe ID
Galxe ID is a function on Galxe that works similarly to one’s resume. It can be a user’s Web3 LinkedIn or Facebook profile. To claim your Galxe ID, go to Galxe’s website and connect your METAMASK wallet. After signing in, you can see that your blockchain behaviors are already to some credential tags.
As seen in the image below, my credential tags (blue buttons) show that I’m a Uniswap V3 Trader, Sushi Trader on Ethereum, OPENSEA Transaction Taker, etc.
Since Galxe is an open platform, developers can plan more credentials to enrich user profiles through the Galxe ID toolkit. Additionally, developers can offer customized features to users based on their digital credentials.
Brands or projects can use the Campaign feature on Galxe to organize events, invite users to participate, and reward them with special NFTs which will give them special rewards or unlock privileges in the future.
So far, many brands and projects have already utilized this feature to increase brand awareness, promote staking and governance, implement NFT-powered loyalty systems, and more.
We will provide more examples in the Case Studies section.
Space is a brand’s or a project’s verified page. This page archives all the events launched by a project through Galxe. The best thing about Space is that all hosts for these pages are verified; therefore, users don’t need to worry about getting scammed. More importantly, they can enjoy the rewards of participating in campaigns with peace of mind.
Every time a brand organizes an event, it contributes data to Galxe’s protocol. In the future, Galxe can use this data to generate different user personas to target users more accurately for brands.
Which projects are using Galxe?
Next, let’s look at some projects that have successfully run their campaigns on Galxe to have a more solid idea.
Learn-to-earn with CoinGecko
Galxe and CoinGecko wanted a fun way to educate and incentivize DeFi beginners and enthusiasts on the Web3 ecosystem. To do so, they created the ultimate DeFi course to reward users through a learn-to-earn mechanic.
The “DeFi 101” NFT Campaign included five courses, each with different tasks on various DeFi protocols. Users received badges for completing each task. Moreover, users who completed all five courses were given honor student badges.
16,730 users participated in the campaign, and each protocol grew their communities. But, most importantly, the campaign encouraged new users to learn more about the world of Web3.
P12 Genesis Soul-Bound NFT Airdrop
To reach the goal of user engagement, Project Twelve leveraged Galxe’s infrastructure to conduct an airdrop campaign entitled P12 Genesis Soul-Bound NFT Airdrop. This campaign was designed to capture off-chain gaming credentials on Steam.
The data desired included how many hours one played on Steam or whether one published a popular game on Steam. This information was then sealed into Genesis Soul-Bound NFTs that were given to all eligible players and game publishers.
Within a week, Project Twelve had more than 520,000 verified Steam gamers/developers and over 210,000 on-chain NFT holders.
What changes has Galxe brought about?
The Galxe infrastructure is key in refining the decentralized identity of the Web3 ecosystem participants. Since Web3 is still in its early days, user data is highly fragmented and scattered.
Many products we use do not directly employ decentralized technologies. For example, data service providers like CoinGecko and media outlets like CoinDesk don’t provide dapps themselves. Plus, the vast amount of off-chain data, including that on Twitter, Steam, and Discord, which help define our identity, are excluded from the blockchain world.
This is exactly what Galxe aims to overcome. Galxe’s infrastructure can support curating credentials through multiple data sources. Furthermore, Galxe wants to utilize this data to help teams better serve their users.
It is important to note that Galxe does not control data like a centralized organization. Instead, it is the users themselves who truly own their data. The hope is that this data could help the team better serve their users.
To that end, Galxe encourages its community to contribute to its credential data network, and curators will receive rewards when others utilize the curated credentials.
The recent growth of Galxe’s user data proves that its platform is gaining popularity among users and that more projects are running campaigns on it. This, in turn, will inspire more developers to join the ecosystem to develop more valuable credentials.
