The Graph Launches New Web3 Data Application as GRT Token Declines Again

Web3 data indexing firm The Graph has launched a new application called Geo Genesis, which aims to transform how knowledge is organized in the Web3 space.

According to a press release shared exclusively with BeInCrypto, the new application will allow users to interact directly with vast amounts of Web3 data, regardless of their technical skill level.

The Graph claims that Geo Genesis will greatly democratize and decentralize the growing tech sector.

The launch of the new application comes after The Graph unveiled its GRC-20 standard in late November, which aims to simplify the creation of new Web3 applications. The firm has now indexed Web3 graphs for over 80 dApps across over 80 blockchains.

However, The Graph has faced challenges in recent times, with its native asset, GRT, continuing to decline despite several attempts to shake off bearish signals and begin a full recovery.

According to data from CoinGecko, GRT has lost over 80% of its value since The Graph launched its GRT token in December 2023. Throughout much of 2024, every indication of forward momentum for GRT resulted in a decline.

The crypto bull market in November gave GRT some breathing room, but the past weeks have seen bearish signals return.

The launch of Geo Genesis may help build forward momentum again, with The Graph claiming that the new protocol will launch with an early access period, allowing editors and members to identify any remaining pain points before the firm hands over greater control.

This will allow users to customize governance frameworks for their own spaces, creating a vast network of interconnected knowledge graphs, as envisioned by Web3 enthusiasts.