intermediate
3 min read
Why Last-Touch Works Well in Web3
Understanding why simple attribution makes sense with onchain data
Multi-touch attribution was considered best-in-class in web2's golden age of cookie tracking. In a world where user journeys were fully observable, understanding every touchpoint provided meaningful insight. That world no longer exists.
Web3 has different constraints and advantages
- You can't see the middle: Unlike cookies, onchain attribution sees the ad impression and the conversion, but not everything between
- You have reliable conversion data: The conversion is verifiable onchain, independent of third-party tracking
- Last-touch is practical: Given limited journey visibility, it's honest about what you can measure
- Incrementality tests causal impact: Rather than distributing credit across touchpoints, incrementality evaluates whether advertising changed outcomes
In this context, last-touch attribution is less about accepting limitations and more about aligning measurement with reality. When conversions are verifiable and incrementality is used to assess causal impact, the specific attribution model becomes less critical than having consistent, defensible rules.