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Venom Foundation Scores One Million Registered Accounts: Details

Tue, 07/25/2023 - 14:00
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Vladislav Sopov
Venom Foundation, UAE-regulated Web3 conglomerate, shares statistics of its rocketing metrics in Q3, 2023
Venom Foundation Scores One Million Registered Accounts: Details
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Venom Foundation, a new-gen blockchain with a focus on DeFi and NFT use cases, smashed through major milestones in July, 2023. Record-breaking metrics have been witnessed in terms of transaction count, smart contract count, accounts registered and so on.

Venom Foundation registers whopping growth, numbers say

Today, on July 25, 2023, Venom Foundation reached its first million of accounts registered. Besides that, in the first three months after public testnet release, the blockchain witnessed impressive growth in the spheres of smart contracts, non-fungible tokens and confirmed transactions, the official statement says.

In June 2023, it recorded 277 million transactions between testnet accounts, which is equal to a 46% increase compared to May levels. The team of the ADGM-registered venue is certain that this upsurge is evidence of the growing popularity of the blockchain in various spheres.

Also, the platform saw a 65% surge in the aggregated count of active wallets with smart contracts. Now, over 28 million smart contracts are running on Venom Foundation.

As covered by U.Today previously, Venom Foundation launched its first iteration of its public testnet in April 2023. Its team promotes itself as the first Dubai-headquartered and fully regulated cryptocurrency business.

Venom L1 Blockchain Starts Its Public Testnet

Prior to opening its testnet for cryptocurrency enthusiasts, Venom Foundation announced a $1 billion fund for projects interested in using it as a technical basis.

NFT count on Venom almost doubled in June

Besides accomplishments in smart contracts and registered account metrics, the blockchain registered a 93% spike in the net number of NFTs minted on its platform. As a result of large social initiatives, this metric jumped to 5.8 million in June.

Christopher Louis Tsu, acting CTO and CEO of the Venom Foundation, is impressed about the first results of his project's expansion in Dubai and abroad:

Frankly speaking, it took me completely by surprise. We had 250,000 users in the first six days. Can you imagine opening a new shop in town, drawing the curtains back and seeing quarter of a million people lined up outside your door.

In Q1, 2023, Venom Foundation also scored a number of major partnerships, including with Everscale, DAO Maker launchpad and, most recently, with the Government of Kenya.

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About the author

Blockchain Analyst & Writer with scientific background. 6+ years in IT-analytics, 3+ years in blockchain.

Worked in independent analysis as well as in start-ups (, Monoreto, Attic Lab etc.)