SEP 21, 2023
Access Protocol by the Numbers: Sept ‘23
by Andreas Nicolos, Access Protocol
Its been 8 months since Access Protocol launched. Our team has boiled down key metrics across the protocol and platforms to provide an update on progress.
High Level Metrics
Access Protocol launched with 7 creators. In the last 8 months we have added a total of 32 new creators, totalling 39. Creator onboarding is ramping up significantly as of late, with nearly half of creators being onboarded since August.
Access launched with a total of 96,576 subscribers through early partnerships with companies such as CoinGecko, The Block, CryptoSlate, and Crypto-Times.
Since launch we’ve added 128,666 subscribers, with a significant amount of the growth coming in late July.
Since August Daily Active Users is averaging between 1,500 and 2,000, peaking at over 9,000 on July 15th.
It is important to note that this data is only inclusive of on-chain actions (creating a subscription, claiming rewards).
The platform is in its early days, but has already seen over 50,000 cNFTs minted to since inception. We expect this trend to continue as larger creators begin to adopt cNFTs as a form of community and subscriber engagement.
Taking a look at data across all pools we find interesting data that supports many of our initial hypotheses around why Access is a superior subscription and engagement tool vs. other platforms.
Across all subscribers, only 41% subscribe at the minimum subscription level for creators. An astounding 20% of subscribers lock more than double the minimum subscription requirement. This is promising data that proves consumers are willing to contribute more value to their preferred creators.
New tools such as Sketch enable our creators to layer additional services to their most loyal subscribers which plays an important role in boosting ARPU (Average Revenue Per User).
More amazing data coming from conversion funnels for subscriptions. With all creators utilizing the same token standard (ACS), creators benefit from an ecosystem of shared users. A potential subscriber is just one degree of separation away.
As a result we are seeing creators build significant subscriber bases in relation to their twitter following.
Publishers on Access (using both Scribe or on-site integrations) are seeing subscriber bases reach an average of 169% of their twitter following.
NFT artists are seeing subscriber bases reach an average of 51% of their twitter following. We expect this number to grow significantly as many artists have been on the platform for less than 1 month.