The leading Web3 Startups of 2023/2024 that are revolutionizing our daily lives

Web3 has come to liberate everything by giving users control over how they use and manage their personal data. It was launched in 2014 and has since been a game-changer on the internet, with many people relying on Web3 for safety. In this article, I discuss Web3 startups, the services each offers, their unique selling points, and the significant impact they have on our society.

If you want to know the following:

What web3 startup is all about, How Web3 helps business, The Best web3 startups 2024, and How to start web3 businesses; check FAQ section.

A quick one:

if you’re looking to build and launch a web3 business. Hit us here onez.io.

Definition of web3 and its significance

Web3, also called Web 3.0, is the transition of the internet from web2 to web3 where internet users have more control rather than central entities. It’s about making the web more decentralized and using blockchain and tokens. People compare it to Web 2.0, mostly web2 companies control a lot of peoples data and content. While “Web3” was 100% decentralized, it was first used in 2014 by Gavin Wood, a co-founder of Ethereum. It gained more popularity in 2021, catching the attention of people who are into cryptocurrency, Technology companies, and investors. The idea of Web3 started to take shape in 2013. The idea was about creating a web that’s more open and fair, to give users more control over their online activities.

Web3 heavily utilizes blockchain technology and smart contracts to improve security, efficiency, and transparency in online interactions. By leveraging these technologies, businesses can now engage with clients and other businesses in such a way that has never happened before, promoting trust and allowing smoother transactions.

The promise of Web3 is the ability to allow individuals to interact and transact directly with anyone in the world while still retaining complete control over your data. Web3 is more secure, private, and open transactions on the internet, it removes the need for intermediaries such as banks or social media platforms, let’s take Facebook for example you literally follow the terms and conditions giving to you, if not you will be kicked out or get banned, sometimes creepy ads Pop up even when you don’t need them, but web3 is more private allowing you to have control of your online activities securely, tho web3 also has its own terms and conditions but not really though as of the centralized platforms.

Some of the notorious web3 startups 2023

Below is a list of some of the coolest Web3 startups that stood out in 2023. These companies are leading the way with different solutions and services changing lots of industries.check them out along with their distinctive taglines.

Luno: Harnessing the power of digital currency.
Decenternet: Decentralizing the web for freedom and privacy.
Chaingrep: Empowering blockchain transparency.
Covalent: Unifying blockchain data for developers.
UFOstart: Launching the future of decentralized finance.
Pillow Fund: Investing in the digital asset revolution.
Blockchains: Building the infrastructure for a decentralized world.
StormX: Earn anywhere, anytime,

Though they aren’t necessarily startups but since masses haven’t yet got engaged in using web3 infrastructures we should regard them as startups for now until mass adoption. Moving on

they are some of the best Web3 infrastructure that is making waves in the industry. Let’s go into more details about how they actually work and the services they offer.”

Meanwhile, according to CoinMarketCap.com, in the Blockchain sector, the top Web3 companies for March 2024, with the highest 24-hour trading volume, are said to be…

Binace: with 24h trading volume of over $35.4B.
Coinbase. with 24h trading volume of over $4.1B
Bybit. with 24h trading volume of over $6.1B
OKX. with a 24h trading volume of over $5.6B

These exchanges are based solely on blockchain infrastructure. Now Let’s explain in more details about how others previously mentioned startups work.

Detailed analysis of each startup and their unique selling point

Luno

Luno, is a cryptocurrency platform founded in 2013, focuses on Web3 technology. This platform stresses decentralization, interoperability, and user control online.

Luno technology focus

Luno really cares about Web3 technology, which means it’s all about decentralized app and blockchain solutions. Using these ideas, Luno wants to give users more control and safety when handling their digital assets.

Luno unique selling points

One of Luno’s key selling points is its user-friendly interface, which effectively serves both novice and experienced cryptocurrency users. Additionally, it allows crypto investors to buy Bitcoin, Ethereum, and other cryptocurrencies using their local currency. They make sure a safe, compliant, and clear way to buy, sell, and hold cryptocurrencies.

The impact of Luno in the industry

Luno’s focus on Web3 technology will really change how people use cryptocurrency. By pushing for decentralization and giving users more power, Luno helps more people to get into blockchain technology and come up with new ideas for digital money. Plus, Luno’s easy-to-use system will also make it easier for more people to start using cryptocurrencies, which could make them even more popular and accepted with its ability to allow people purchase crypto with their local currency, that’s really the best way to get more people onboarding, because buying with their local currency will literally save them the stress of making arrangement on how to buy with international payment. Such as dollars or euros.

Luno, headquartered in London and with over 600 employees worldwide, data from web shows that luno has a whopping 12 million customers across 40 countries this shows that the platform is trusted and secure.

Decenternet

Decenternet is an innovative project also focused on Web3 technology, offering decentralization, interoperability, and user control. Its purpose is to reshape the digital world by using blockchain to create a decentralized internet ecosystem. Unlike traditional internet systems, which rely on centralized frameworks posing security and privacy threats, Decenternet seeks to return internet freedom and necessary rights to users’ hands. It shows that decentralized internet infrastructure is important for the stability and security of advanced societies.

Decenternet technology focus

Decenternet’s main plan was to use decentralized methods and blockchain to give users more control online. They want to tackle problems like censorship and privacy worries, giving a fairer option to regular internet setups.

Unique selling points of Decenternet

Decenternet stands out with its special features like privacy, rewards for content creation, and community control. It’s focused on providing user privacy and data control, giving everyone a secure online space. Users are rewarded for helping the network grow, creating a lively community. Its democratic model makes sure users’ needs shape the platform’s future.

The impact of Decenternet in the industry

No doubt Decenternet’s fresh approach would shake up the internet industry, moving towards decentralized web systems. It challenges centralized platforms, promoting fairness and inclusivity. Its community-based governance and rewards encourage collaboration, and also contribute to innovation and decentralization adoption. As Decenternet grows, it’s set to change how we see and use the internet.

Chaingrep

Chaingrep is a pioneering venture that places a strong focus on Web3 technology, which represents a new age of decentralized applications and blockchain-based solutions. By harnessing the power of Web3 principles, Chaingrep’s objective is to redefine the way data is accessed, verified, and distributed digitally.

In simple terms. Chaingrep makes it easy to read and understand on-chain data. Chaingrep is an API that makes it easy to read and understand on-chain data.

Chaingrep technology focus

Chaingrep’s main plan is based on Web3 Technology as well. They use decentralized methods and blockchain for clear and unchangeable data management. Using Web3 ideas, Chaingrep allows users to control their data, keeping it private, secure, and real in a connected world.

Chaingrep unique selling points

Chaingrep has its own distinctive features like decentralized data storage, verified credentials, and secure data exchange. via spreading out data storage and sharing, Chaingrep lowers the risk of hacks and censorship. It promotes trust and clarity with verified credentials, allowing users to check info without middlemen. Its secure data exchange makes transactions smooth and safe, at same time improving the data economy.

The impact of Chaingrep in the industry

Chaingrep’s way of handling things would also shake up the data world, from changing how information is handled and shared. It pushes for decentralization and user control, speeding up the use of Web3 Technology. Plus, its focus on data honesty and clarity boosts trust in the online space, it’s opening doors for new uses. Its continuous growth will change how we see, share, and use data online.

on March 29, 2022.Chaingrep’s latest funding round was a Convertible Note for $0.5M over 1 rounds. And they said to have one investor as of then, investors name Y Combinator

Covalent

Covalent on its own is a modern company that really believes in Web3 Technology, the next step for decentralized apps and blockchain solutions. They focus on Web3 ideas, Covalent wants to make blockchain data easier to use and understand, giving power to developers and users.so they can use Covalent’s API to fetch blockchain data such as block data, transactions, log events, state transitions, trace events, etc.

Covalent technology focus

Covalent is also about Web3 tech like others. They use decentralized methods and blockchain to give developers full access to blockchain data, helping them to create awesome apps. With their smart indexing and search tools, Covalent makes it easy for developers and users to find and use blockchain data so easily.

Covalent unique selling points

Covalent stands out with special features like complete blockchain data, live analytics, and tools for developers. By gathering data from different blockchain networks, Covalent helps developers in many ways, making it easier to work together across chains. Plus, its live analytics help users keep track of blockchain data in real-time, so they can make smart decisions and spot trends early. And with its easy-to-use tools, Covalent made it simple for developers to build and launch blockchain apps. Unlike Onez that offers white label wallet.

The impact of Covalent in the industry

The service Covalent’s offers is quite awesome, making it easier for everyone to get blockchain data and work together. Also giving developers full access to blockchain data, Covalent helps speed up the creation of decentralized apps and gets more people using blockchain in different fields. Plus, its live analytics and easy tools allows developers and users to find new ways to use blockchain, making it even more popular and useful.

According to Coinbase The current market cap of Covalent is $237.47M, with its currency CQT live price trading at $ 0.34534 per (CQT / USD) as of the time of writing.

UFOstart

UFOstart is a marketing robo advisor specializing in blockchain, Web3, and decentralized projects. They offer guidance on where to begin, what to focus on, and how to improve marketing strategies for ventures.

UFOstart technology focus

UFOstart focuses on transforming marketing strategies through advanced AI algorithms and insights from their dedicated community. Their platform allows users to swiftly identify effective promotional tactics for their projects, providing cost savings, time efficiency, and peace of mind as UFOstart’s AI-driven recommendations guide them towards marketing success.

UFOstart unique selling points

UFOstart’s Unique Selling Points shine through constant evolution and seamless implementation. Their AI is always refining its brilliance to match the ever-changing web3 marketing. They give a tailored marketing recommendation for your project’s present orbit in an instant. One action holds infinite potential as they said.

The impact of UFOstart in the industry

UFOstart has a big impact by harnessing the power of advanced AI technology to assist businesses with their marketing in the Web3 era. They specialize in blockchain and decentralized projects, guiding businesses to improve their marketing strategies. By using smart algorithms and insights from their community, UFOstart makes it easier for businesses to find the best ways to promote themselves. This saves time and money while giving users confidence in their marketing efforts.

Pillow Fund

Pillow Fund is a new project that shows a move towards decentralized investing and managing assets. It focused on Web3 ideas, Pillow Fund wants to make it easier for everyone to invest and receive significant interest annually up to 14% rate and they aim to change how money is being managed and invested.

Pillow Fund technology focus

Pillow Fund: users Earn a good interest by depositing funds with Pillow and venturing into investments. Pillow focus is that their users can potentially earn up to an impressive 14% interest rate annually on their deposits. Pillow generates returns by strategically investing users’ funds into premier blue-chip Defi protocols across blockchain networks.

Pillow Fund unique selling points

Pillow Fund uses decentralized asset management, automatic investing, and community governance. And allowing investors to manage their portfolios without traditional middlemen, Pillow Fund gives them more power. Plus, its automated investing uses smart contracts to make trades and adjust portfolios, making the most of profits and reducing risks. And with its community-run system, everyone can also be part of decision-making, creating a friendly place for investors and asset managers to work together.

The impact of Pillow Fund in the industry:

Pillow Fund breaks down barriers and gets more people involved in the investment market. Additionally its automated investing and community-run system build trust and confidence in decentralized asset management. In the future Pillow Fund, is set to change how assets are managed, traded, and invested in the digital ecosystem.

How much funding has the Pillow Fund raised till date?

Pillow Fund secured $21 million in funding across two rounds. The first round happened on January 26, 2022, followed by a Series A round on October 13, 2022, raising $18 million. The latest round involved four investors, led by Accel, Quona, Elevation Capital, and Jump Capital.

Blockchains

Blockchains lead the way in Web3 Technology, focusing on decentralization, transparency, and keeping data unchangeable. They want to change many industries by offering secure, unchangeable, and decentralized ways to manage data securely.

Blockchains technology focus

Blockchains are the forefront of web3. They use shared ledgers and agreement methods to make transactions clear and secure. This means people can exchange their stuff without middlemen. With their decentralized setup, blockchains keep data safe and reliable. They’re used for lots of things like finance, supply chains, verifying identities, and even voting systems.

Blockchains unique selling points

Blockchains has its own special selling point like decentralization, transparency, and keeping data unchangeable. By spreading out data storage and checking transactions, blockchains make it harder for things to go wrong or be controlled. Plus, they keep a clear record of transactions, so people can check if data is real. And with their unchangeable setup, blockchains use strong codes to lock in data, making it nearly impossible to change or clear past transactions.

Top 10 crypto and blockchain startups in the world

Ripple
Chainalysis
Dunamu
Kucoin
OpenSea
Fireblocks
Falconx
Alchemy
Starkware
Digital currency group

Crypto and blockchain companies combined raised a whopping $73 billion in the past three years, this shows the industry’s significant growth.

The impact of blockchain in the industry

Blockchains have changed many industries and how we handle, check, and share data. Blockchain provides a safe and clear way to do transactions and store data, tackling problems like fraud and distrust. they open up new ways for businesses to make money and be creative. As blockchains keep growing and more people adopt them and also developers adding new features, they’re set to create a big change, by making digital systems decentralized and available to everyone across the globe as long as you have an internet Connection.

StormX

StormX is an active company that utilized decentralization, transparency, and giving users a sense of comfort to patronize them. StormX wants to change how the online market works, and to give users new and creative ways to earn cryptocurrency at every purchase.

StormX technology focus

StormX focuses on using blockchain and smart contracts to create a marketplace where users can earn up to 87.5% crypto Cashback, by doing simple tasks like shopping, gaming, or taking surveys. With its Web3 setup, StormX makes sure earning and spending cryptocurrency is clear and trustworthy, handing users control over their finances.

StormX unique selling points

StormX stands out with features like decentralized earning, cashback rewards, and an easy-to-use interface. Providing users with a decentralized way to earn cryptocurrency, StormX offers something different from ads or affiliate marketing.its cashback rewards encourage users to shop at certain stores, getting more people into using cryptocurrency. And with its simple interface, StormX makes it easy for users to find earning opportunities, making the whole experience better for everyone.

The impact of StormX in the industry

StormX’s approach changed the digital market and got more people using cryptocurrency for everyday payments. giving users ways to earn cryptocurrency and get cashback rewards is what most people wanted, StormX makes using cryptocurrency more appealing and helps more people join in. Plus, its focus on giving users control and being clear and honest builds trust and keeps people coming back for the Cashback.

They continuously record over 75,000 monthly active users every month (more than most DAPPs out there).

Future potential of these startups

These startups growing even bigger has a big impact on the digital space. As more people continue to use them, they have already shown how things would change in the future, it is been predicted that soon all these web3 infrastructures will take power from centralized companies and old-fashioned ways of handling things.Their success and approach shows a move towards putting users first and spreading out how things are managed, like data, money, and talking online. Plus, they come up with new ideas for old problems, making it easier for companies to work together and partner up in the industry without no much authority being placed on them.

Future impact of these web3 infrastructures

In the future, these startups’ though they are not merely startups as was said before. Their continuous improvement will really change how Web3 works. As they get more popular and add new updates, they can help decentralized Technology grow up and get better. Their cool and distinctive features shows what’s possible and also encourages other people to try new things in the Web3 world. Together, they’re making a digital world that’s stronger, clearer, and fairer, where everyone has more control over their data; that’s what people have always wanted.

Bottom line

To sum up, looking at these startups like Luno, Decenternet, Chaingrep, Covalent, UFOstart, Pillow Fund, and StormX, we see a mix of new ideas and growth in the Web3 industry. Each startup really believes in Web3 Technology, using decentralized methods and blockchain to come up with new solutions for different industries. Their special features, like decentralized finance, managing data, and communicating, show how Web3 Technology can be helpful in our daily life.

The rise of Web3 Technology is really important. The common problem we face is that the majority of people haven’t yet realized how important web3 is to our society. All they could think of is mistaken web3 as a ponzi scheme, meanwhile it’s not. for me web3 is here to liberate and to create a more connected digital ecosystem. With these startups showing how things could be changed, moving towards decentralization, transparency, and giving users more control over their online activities. With Web3, managing data, money, and talking online becomes more in the hands of users. Plus, it encourages new ideas, teamwork, and fairness, making digital opportunities available for the masses.

The success of these startups shows how important Web3 Technology is for the future of the internet and beyond. As they keep growing, they’re creating a digital world that’s more fair, clear, and open, where people have more control over their online lives. So, it’s really important to keep accepting and improving Web3 Technologies, as it can bring new opportunities and make the digital age more fair and open for everyone involved.

FAQ

What is web3 startup all about?

Startup means starting something new. A web3 startup simply means starting a new venture or let’s say creating a demanding software or service using Web3 technologies like Blockchain, NFTs, and Smart contracts.

How to start web3 businesses?

To start a web3 business, you need to understand blockchain technology and its applications. Then, come up with an idea for a product or service that uses blockchain or decentralized technology. Next, create a plan, build your product, and find investors or customers. Finally, launch your business and keep learning and adapting as you grow.

How do I get funding for a Web3 startup?

To get funded as a Web3 startup, you need to explore Initial Coin Offerings (ICOs). These are like crowdfunding events where you sell digital tokens to raise money. These tokens give investors access to your product or service. ICOs are popular in the Web3 space because they help startups gather significant funds fast.

How does Web3 help business?

Web3 helps businesses by providing decentralized technology, like blockchain, which can improve security, transparency, and efficiency. It creates new ways of doing business, such as decentralized finance, NFTs, and smart contracts, which can create new opportunities and revenue streams. Additionally, Web3 can foster greater trust between businesses and customers, as transactions are always more transparent and secure.