From Digital Currency to Decentralized Dreams: Exploring the Rise of Web3

Since Bitcoin’s revolutionary debut in 2008, a vibrant ecosystem of cryptocurrencies, blockchain technologies, non-fungible tokens (NFTs), and Web3 startups and platforms has blossomed. Over 300 million people are now actively engaged in buying and selling crypto, and many are investing in these innovative Web3 companies, captivated by their immense potential.

Web 3, also known as Web 3.0, presents a captivating vision for the future of the internet, but its definition remains dynamic, evolving with each new advancement. In essence, it encapsulates the idea of a decentralized, user-controlled internet infrastructure powered by blockchain technology where transactions are executed using tokens like cryptocurrencies and NFTs.

This revolutionary approach is attracting considerable investment, even from prominent figures in the tech industry. Giants like Meta (formerly Facebook) are actively pouring resources into Web3 and related Metaverse technologies. In 2021 alone, investments in Web3, crypto, and blockchain companies reached a staggering $32.8 billion, according to Crunchbase data.

The Web3 landscape encompasses a diverse range of players, including infrastructure providers, decentralized applications (dApps), decentralized exchanges (DEXs), DeFi (decentralized finance) platforms, NFT marketplaces, and Metaverse projects.

In this article, we embark on a deep dive into the top 15 Web3 companies, uncovering their funding history and key metrics to illuminate their impact and potential within this rapidly evolving ecosystem.

Top 15 Web3 Companies 

We’ve broken this list down into some of the most popular categories of Web3 companies: 

• Web3 Infrastructure Platforms & dApps
• Decentralized Exchanges (DEXs) & Decentralized Finance (DeFi) Platforms 
• NFT Platforms 
• Metaverse Platforms 

Let’s dive in . . . 

Web3 Infrastructure Platforms/Apps

#1: Token Tool by Bitbond

Bitbond is a market-leading asset tokenization platform provider, with over $200 million of assets turned into blockchain-based tokens using Bitbond’s software solutions. 

Token Tool by Bitbond is a way for users to turn anything into a tokenized asset — art, valuables, usage rights, certificates, fiat currencies, bonds, stocks, and dozens of other tangible pieces of intellectual property (IP) — and sell them as NFTs. No coding skills or knowledge required. 

Check out Token Tool here.

#2: Project Galaxy 

Project Galaxy, created by Bullet Labs, and founded in 2021 is the world’s largest Web3 credential data network and infrastructure platform. Project Galaxy helps creators and brands build better communities in Web3 and the Metaverse. So far, they’ve raised $10 million and have over 8.5 million users, 1,275 ecosystem partners, who have curated over 12,000 credentials, and 8,600 credential-based campaigns.

#3: ConsenSys 

ConsenSys is an Ethereum-based software company. Products include Infura, Quorum, Truffle, Codefi, MetaMask, and Diligence, serving millions of customers, handling billions in transactions, and storing and securing many billions more in crypto and decentralized value. 

ConsenSys is valued at over $7 billion, having raised $725 million in funding since 2014. Millions of people and many of the world’s leading companies use ConsenSys products and services everyday, making them one of the most well-developed Web3 companies on the market. 

#4: CoinList

CoinList supports the complete end-to-end lifecycle for startups looking to raise funding through Initial Coin Offerings (ICOs) and token launches. It supports founders, and miners, and connects them with millions of potential investors. So far, CoinList has raised $549 million since 2017. 

Over 10 million people use CoinList to access coin/token investment opportunities before they go mainstream on other exchanges.

#5: Thirdweb 

Thirdweb is a powerful Web3 development framework, giving developers and Web3 companies the ability to create and control smart contracts, SDKs, and build dApps that can be shipped on-chain faster than through other platforms. Developers can implement smart contracts with core standards such as ERC20, ERC721 and ERC1155. 

Over 40,000 developers are already building on this framework, making Thirdweb one of the key Web3 companies for DAOs, NFT Marketplaces, and Play-to-Earn Games. 

Decentralized Exchanges (DEXs) & Decentralized Finance (DeFi) Platforms

#6: Okcoin

Okcoin is a fast-growing decentralized exchange (DEX) with offices in the US, Europe, Singapore, Japan, Korea, and Hong Kong. Millions of people use this exchange every day, and they’ve raised $10 million to keep growing. At present, over 1 million people are using Okcoin to buy, sell, hold, and trade cryptocurrencies. 

#7: Uniswap 

The Uniswap Protocol is the largest automated and decentralized market-making protocol on Ethereum, with over $220 million in average daily trading volumes. It’s always in the top 5 of DEXs and centralized exchanges. Uniswap has raised millions from top-tier investors, including Andreessen Horowitz (a16z), Paradigm, and Union Square Ventures. Over 120 million people are using the Uniswap Protocol to trade crypto, making it one of the leading Web3 companies in the DEX space.

Web3 NFT Platforms

#8: OpenSea

OpenSea is the world’s largest Web3 peer-to-peer NFT and digital collectables marketplace and platform. Millions of people buy, sell, trade, and mint NFTs on OpenSea every day. It’s backed by top-tier investors and has so far raised $427 million at a $13.3 billion valuation (as of January 2022). According to OpenSea statistics that are publicly available, millions of NFTs have been bought and sold on the platform.

#9: Immutable 

Immutable, through their product, Immutable X is making it easier for NFT owners and collectors to scale NFTs without compromising the Ethereum network. It’s also powering the next generation of Web3 games. So far, Immutable has raised $279.8 million at a $3.5 billion valuation, as of March 2022. Dozens of popular Web3 games are powered by Immutable, and over 9 million NFTs have been bought and sold on the platform so far.

#10: NFTY Labs

NFTY Labs is developing cross-chain bridges for NFT and Metaverse communities. NFTY is a cross-chain Web3 authentication layer for subscription services, access management, and NFTs.

#11: Autograph

Autograph is another popular sports-centric Web3 NFT platform, connecting fans with iconic teams and sports stars. Autograph enables the creation and trading of unique digital collections. So far, Autograph has raised $205 million at a $700m valuation. Autograph has already partnered with some of the biggest names in professional sports and is attracting millions of buyers/collectors to their platform.

#12: Sorare

Sorare started as a French fantasy football platform that has turned into a massively popular NFT-based football trading card ecosystem. 

In 2021, SoftBank, through its Vision Fund 2, invested $680 million in Sorare, bringing total funding to $739.2 million at a $4.3 billion valuation. Sorare has licensing agreements with the NBA, MLB, over 300 football clubs, and dozens of other professional leagues, with millions of sports fans collecting NFTs through their platform, making them one of the leading Web3 companies in the sports space.

#13: Sweet 

Sweet is an NFT platform that connects brands, such as sports teams, with enthusiastic fans. Dozens of professional teams and clubs rely on them to create and support immersive, NFT-based environments to increase fan engagement and revenues. So far, Sweet has raised $10.1 million.

Metaverse Web 3 Companies

#14: The Sandbox

The Sandbox is one of the world’s most popular Metaverse platforms with millions of users. It’s a 2D and 3D virtual world where you can buy LAND (virtual land), rent out space, host events, buy and sell tokenized assets, and so much more. In 2021, SoftBank, through its Vision Fund 2, invested $93 million in The Sandbox.

#15: Decentraland

Decentraland is an exciting and popular Metaverse and digital asset platform with millions of users. Similar to The Sandbox, you can invest in virtual real estate, host events, and meet people in this virtual reality. So far, they have raised $51 million to accelerate growth, and there are millions of people exploring Decentraland every week.

Other notable Web3 Platforms

#16: Lido

Lido staking is a way to earn rewards on your cryptocurrency without locking them up. Unlike traditional crypto staking, Lido lets you stake any amount and receive tradable tokens representing your stake. This allows you to earn rewards while still having access to your assets for other DeFi activities. However, Lido charges fees and relies on the security of its own protocol, so be sure to understand the risks before participating. At the time of writing, Lido has $32.10 billion in Total Value Locked (TVL) according to DefiLlama.

#17: Aave

Aave is a decentralized financial (DeFi) platform where users can lend and borrow cryptocurrencies. Similar to a traditional bank, lenders earn interest on their deposited crypto, while borrowers can access crypto loans at variable or stable interest rates. Aave also offers a staking option for its native token, AAVE, allowing users to contribute to the platform’s security and earn rewards in AAVE tokens. While Aave offers benefits like earning interest and borrowing crypto, it’s important to remember that interest rates can fluctuate and there are inherent risks associated with DeFi protocols.

#18: Maker

Maker operates in the DeFi space, but unlike Lido and Aave, it focuses on creating and managing the stablecoin DAI. Users can lock up other cryptocurrencies as collateral to borrow DAI, essentially getting a loan in stablecoins. This allows them to access stablecoin liquidity without traditional institutions. While users can potentially earn interest on their collateral, there are risks involved. They need to provide collateral and risk losing it if its value falls significantly, and interacting with Maker’s smart contracts can be complex. Maker’s current TVL is around $9 billion.

And there we go, the top 15+ list of Web3 companies! Have we missed any you think should be included? Let us know on Twitter.