Web3 is the future of employment, founded on the widespread desire for self-sufficiency. It aspires to decentralize the internet and make it accessible to anyone.
That’s why Web3 is gaining popularity, not only in terms of technological advancements but also in terms of public attention.
In this article, we will show you the top web3 startups and then provide you with the basic steps to launch your own startup in 2023.
What is a Web3 startup?
A Web3 Startup refers to a blockchain-powered enterprise that advocates for a decentralized internet rather than one based on centralized platforms like Alphabet’s Google and Meta. NFTs and the metaverse are particularly popular technologies and services currently created by Web3 startups.
Data ownership is given to the user under Web3 models, making it a valuable economic foundation for startups. In fact, according to an Industry Research Future analysis of the Web3 blockchain market, the market value is expected to hit more than $6,187 million in 2023.
You can also learn more about web 3 on the Web3 Foundation website, where you’ll have access to projects, research, press, and careers.
Top 23 Web3 Startups List
In recent years, some of the top Web3 startups have gone on to become some of the biggest companies in the world. They include behemoths like Alchemy, Binance, Ripple, Crypto-com, and Coinbase Global, which have shown many opportunities in decentralized internet access and development.
1. BitPay
BitPay is a payment service provider that allows one to make purchases using Bitcoin. Bitpay is not limited to purchases; you can also buy, swap or store your crypto coins on the app.
2. Brave Wallet
Brave is one of the top web3 startups. This company guarantees privacy when browsing the internet and ad-free seamless use.
The brave wallet is a secure crypto wallet that you can access straight from your browser. It offers convenience as one does not need to download any app. Brave wallet ensures you are less vulnerable to cyber-attacks such as phishing and spoofing.
3. Fingerprint
Fingerprint is a streaming platform catering to kids’ needs only.
With a massive selection of videos, songs, games, and books, fingerprint offers the perfect distraction for the littles.
The App is available for download in the app stores but you can also play it on the web, through carriers, or get it already pre-loaded on tablets.
Learn more about Web3 gaming.
4. AlphaWallet
AlphaWallet is also one of the top web3 startups on our list. It offers a new and more secure way to make contactless payments. The app uses tokens to operate. You can redeem these tokens as you please—for example, ticket tokens to access events.
5. Biconomy
Biconomy allows users to connect to any decentralized application across different chains. Biconomy aims to make transactions straightforward and instant. Through its SDK/Apis, you can create customized transactions so that your users are not overwhelmed by blockchain complexity.
Check a list of great Web 3 Companies if you want to broaden your search.
6. ZenGo
ZenGo is a crypto wallet that sends and receives a crypto asset from one person to another. The app is easy to use and has additional security features to protect the client’s assets. It includes 3D biometric encryption and 3-factor authentication.
7. ConsenSys
Consensys is at the forefront of developing cutting-edge technology focused on building next-generation apps. The company is also focused on providing access to the decentralized web and launching modern financial infrastructure.
8. Polygon Technology
Polygon Technology is a platform that can be used to connect and scale networks. It can also be used to increase the flexibility of a blockchain. The forum operates using the Ethereum blockchain. Polygon enables developers to build user-friendly apps with low transaction fees.
9. Terra
Terra is a payment platform that allows users to spend, trade, save, exchange, and track the price of stablecoins. The platform gained massive popularity recently, with many investors opting to use it for transactions.
10. Luno
Luno was created to develop a better financial system. Since its launch, Luno has done exceedingly well, especially enabling many people to access cryptocurrency safely and securely. Luno boasts of being one of the first companies that have made investing simple for millions around the world.
11. Decenternet
Decenternet is designed to help more people enjoy faster, more secure, and better internet use. It is a hyperspeed P2P internet blockchain that guarantees consumer satisfaction.
12. Chaingrep
Chaingrep is a search engine that allows you to look up digital assets and track their progress. The data provided by Chaingrep is easy to read and understand.
13. Covalent
Covalent is perhaps one of the most elaborate decentralized interfaces at the moment. Covalent offers a wallet interface that allows you to check transactions and balances, an NFT gallery, and an investor dashboard at your fingertips.
14. UFOstart
UFOstart focuses on Web3 technologies. The enterprise is run by independent developers and marketers with experience designing blockchains. UFOstart serves as a consultant platform for any blockchain startup.
15. Pillow Fund
Pillow fund is an app that lets users earn interest on their crypto rather than save it. The app focuses on making yield earning as simple as possible with little complexity. Pillow fund goes a long way in making all the investors comfortable and willing to participate more or try the world of risk-taking.
16. Blockchains
Blockchains is the creator of a Web3 ID that can be used by anyone wherever they go in the web3 startup ecosystem. The ID helps users control their digital identity, data, creation, finances, and future. It puts the individual front and center, to ensure they never lose control of their identity.
17. StormX
With the increased crypto demand, many people seek to invest in stablecoins. StormX provides the perfect solution for rookies and seasoned investors, where one can earn crypto by performing regular tasks.
18. Crucible Network
With its eye on the future, Crucible Network is set to grow with the expansion of the metaverse. The app relies on Web3 startup’s most commonly used technologies such as blockchain. Crucible is designed to offer a secure digital identity for all its users.
19. Omega One
Omega offers an all-in-one app that makes it easy to manage your events, from event management to study hours and more. Omega is a company that aims at increasing efficiency, productivity, and overall consumer approval rate. It also helps you manage all your finances using Vault, an extension of omega.
20. Everyrealm
Everyrealm is a digital platform that enables users to invest in NFTs and crypto. The developers are keen on adding value to the client’s portfolio. It is one of the most active investors in and developers of the metaverse ecosystem.
21. BlockFi
Blockfi is a platform that has proved to be very beneficial to its users. The platform allows you to access loans based on the number of coins you have. Additionally, one can obtain a cash loan using their coin as security.
22. Celsius
Celsius is a platform considered to be the home for crypto. The company offers tokens and coin offerings to those seeking to grow their investments. It provides an app designed to help you reach your financial goals.
23. Coinbooks
Coinbooks is a piece of accounting software that allows users to track their expenses, track their coins and monitor their investments in real-time.
Coinbooks works by connecting with crypto wallets and conventional accounting software, allowing crypto businesses, like Web3 startups, to handle both crypto and non-crypto payments in one place.
Does Web3 Run On The Blockchain?
Yes! However, there is some nuance to it. The top Web3 startups are built on the idea of giving power back to the users and decentralization, adopting blockchain technology to achieve that. Web3 is a combination of technologies that all have one goal; empowering the users.
Web 3 is an internet built on public blockchains, which means it is decentralized. Instead of customers connecting to the internet through services controlled by firms such as Google, Apple, or Facebook, they get control over areas of the internet.
It does not require “permission,” which implies that governing bodies do not get to select who can access what resources, nor does it necessitate “trust,” which means that virtual transactions involving two or more parties do not require a middleman.
Web 3 theoretically preserves user privacy better since these organizations and intermediaries acquire most of the data, while Web3 puts that in users’ control.
How To Launch A Web3 Startup in 2023
Given that the potential outcome of launching a Web3 startup is giving control back to internet users, it is not a wonder that many with the skills and interest may want to own a Web3 startup. How do you go about it?
Here is a brief breakdown of the steps:
Step1: Start By Building A Community
Communities are essential in the web3 world. The more people you have, the more power they have as a collective. The community is who will invest in you (both financially and as a participant). Always start with building a community around a shared set of ideas.
Step 2: Market Your Web3 Idea
When it comes to developing Web3 startups, marketing is critical. You can’t create a community or progress without marketing. Unless you have a solely B2B business (which still requires marketing), you will need the help of a dedicated and active community.
Step 3: Raise Funds
Not too long ago, and even now, the most viable way to raise funds was through an Initial Coin Offering, especially with a die-hard community. However, traditional investment routes are also available with the growth of ideas and their potential.
Step 4: Set Up Your Web3 Business To Last
When coming up with the idea, implementing it, or raising money, it should be deemed viable in the long term. Every founder has to face this challenge. It takes time, a great idea, and a community to support you.
Do’s & Don’ts Of A Web3 Startup
If you have an idea, the willingness to see it through, and clear sightlines regarding viability, there is only one crucial thing to do; build a community!
In addition to that, keep the following tips in mind:
- Do include onboarding and documentation to avoid disputes when your idea breaks through.
- Do invest in the right skills and tools to manage and scale your idea.
- Do not overcomplicate what you do. Keep it simple, planned, and well-communicated.
- Do not tie the organization to one person (singular leader)
Remember, you cannot survive without the community.
If You Build It, They Will Come
As we have seen in this article, you need a problem to address or solve first, then a community to support you, and the fortitude to keep at it until you have a great proposition people are willing to buy.
For Web3 startups in 2023, It is crucial to choose between Web3 approaches and SaaS solutions. You should have a convincing reason why your solution should be created with blockchain or Web3 technologies. Founders should not just launch Web3 startups because it is hot right now.
Does your product need Web3 concepts?
If you answered yes, reading this essay was an excellent first step.
