Monthly Recap: September 2023
Written by Christian
Posted on September 29th, 2023
We highlight our forthcoming video feature, the token.com community's growing interest in the app, and other significant developments from the last month at token HQ.
Token Takeaways ✍
✨ We’re gearing up to make token.com more interactive with the launch of our long-planned video feature.
✨ Recent customer activity shows that the token.com community is showing lasting interest in our offering.
✨ Customers can now deposit and withdraw funds from the app in USD through PayPal as we look to make token.com more global.
If there’s one thing September has proven, it’s that institutional interest in tokens is growing. Autumn kicked off with a series of fresh Bitcoin and Ethereum ETF applications from finance titans like Franklin Templeton, ARK Invest, and Grayscale. We also saw that excitement is returning to the space from our experience at TOKEN2049. But as is typical in the token space, the month was also bumpy. The SEC sued two NFT projects for unregistered token sales, and several big hacks hit the space. These events show that the ecosystem still has growing pains to overcome.
Meanwhile, development continues at token HQ. It felt amazing to prepare the final touches to updates we’ve been working on for months this September. We were also thrilled to see promising results in the way our community engages with the app. Learn more below.
Video is coming to the app 📹
token.com is the place to discover and support the world’s most important token projects. Our token Cards make it easy to learn about each project’s unique objectives, and they’ll soon get their biggest upgrade to date. Cards are set to feature videos to introduce you to the project. These clips will be presented in the snackable format you’re used to, helping you grasp what the project’s about in a few seconds.
The video integration is just one step on our path to creating the world’s top social platform for tokens. We’ll be rolling video out to other sections of the app as we work towards this mission. We hope to become an accessible platform where anyone can support any token they care about and tell their friends about it in a few clicks. And we’ve already kicked off the journey.
Loyalty in the token.com community 🥰
We spend a lot of time looking at how our customers interact with the app, as this helps us improve to serve them. Our findings from September tell us that the token.com community is loyal. The big news is that our verified customers have jumped by 3x this year, but a deeper look at the numbers reveals more positive news.
Over 90% of customers collect a token within half an hour of making a cash deposit, which highlights the app’s simplicity. What’s more, the number of customers with a positive balance has grown alongside the average transaction size. In short, the token.com community has grown, which is great. But perhaps more importantly, trading activity suggests that people are becoming loyal supporters. We think this bodes well for the future as we evolve our offering and continue on our mission to help the world benefit from tokenization.
Catering to a global audience 🌍
We made buying tokens even easier this month as customers can now deposit and withdraw funds in USD through PayPal. This is another important update for us as we focus on building a truly global token platform. Currently, the majority of token.com customers are based in Brazil. But after expanding worldwide, we’re improving and iterating to serve everyone. As the dollar is the world’s most used currency, letting customers use it to access tokens is key to achieving this goal.
Tokenization is a global movement. It’s a disruptive force that will change the world forever, empowering anyone to invest in the things that matter most to them. So it fits for token.com to become a global platform as it grows.
Profiles and posts 👤
We’ve long discussed how we want to make tokens more social. To achieve that, token.com must be an interactive offering shaped by its community. We’ll soon launch profiles and posts for all customers, which will make our platform more vibrant and communal.
Our live news feed is already one of our most popular features, but when anyone can share their thoughts on any token we list, it should burst to life. token.com welcomes customers from all walks of life, so we can’t wait to see the unique token perspectives you share.
Learn more 💫
That brings us to the end of September and another packed quarter at token HQ. In short, people are enjoying the app as it evolves, and things are about to become more social with video set to take centre stage. In the final quarter of the year, we’ll be bringing you another batch of nice updates as we continue to improve our offering. The tokenized world is here to stay. We’re here to make it accessible to everyone.
Please note: Investing in cryptoassets is risky. Due to the volatile nature of the cryptocurrency market, investors run the risk of losing their funds when they make an investment. Returns from cryptoasset investing are not guaranteed, therefore users should always be aware of the risks.