Nansen co-founder and CEO Alex Svanevik and StepN chief marketing officer Shiti Rastogi Manghani discussed what makes a Web3 “super-app” during the SCB10X Virtual Summit

The explosive growth of decentralized apps has the ecosystem racing to build the next generation of “super-apps” that achieve explosive growth and offer exclusive features with a multitude of use cases. 

At SCB 10X’s ReDeFine Tomorrow virtual summit, Nansen’s Alex Svanevik explained the fundamental importance of having transparent, accurate data on-chain to develop an industry-leading blockchain data analytics platform. He said, “We are very well positioned to take that [super-app] spot because our unique edge is that we have data that no one else has. We have the best coverage of what actually happens on the blockchain, which is the most fundamental building block if you think about being the information superhighway of Web3.”

When creating these applications that are catered toward slightly different customer segments and use cases, Svanevik offered two central ideas: “The first point is to make the user experience better for people who are active in crypto, and the second point is to actually leverage the synergies and the network effects on the economies of scale that you get from having everything in one place.”

Svanevik went on to explain why building foundational infrastructure that solves user pain-points has helped Nansen become the information super-app of Web3, even in volatile markets. He said,  “Defense is much more important in the bear market. You want to defend your position and your portfolio.”

Regarding the bear market, StepN’s Shiti Rastogi Manghani also believes that the ability to adapt and build is what sets super-apps and successful tech startups apart from the rest. She said, “We’re actively and constantly monitoring ourselves, delivering value, launching new products and making them number one.”

Manghani explained how StepN achieved its rapid growth through gamified and social elements that have fostered a strong empowered community, which then translates to brand collaborations and new users in the ecosystem. She stated, “The problem is not growth — the problem is retention. For retention to happen, results need to happen. For results to happen, there need to be habits and accountability. We’re creating these habit loops where people come back again and again: to run, to jog, to walk.”

StepN has streamlined the onboarding process for new users into the crypto ecosystem by promoting a healthier lifestyle while encouraging daily exercise via token incentives. Manghani shared her mission-critical perspective on growth, “We’re doing it in a way where we’re onboarding non-crypto users for the first time who are creating their first crypto wallets, who are buying their first NFTs, and who are now using these incentives to walk, jog and run in a way they hadn’t before.”

With DApp development showing no signs of slowing down, innovators and changemakers from SCB 10X’s ReDeFine Tomorrow virtual summit believe that the future of decentralized finance and Web3 will continue to thrive. As developers, builders and users navigate this bear market, opportunities will continue to emerge for successful decentralized applications to become more sophisticated and globally impactful.