Web3 companies are not just technology firms, but also architects.
Architects of a decentralized and more user-centric internet. They use blockchain technology and other decentralized systems to create a more secure, transparent, and inclusive digital ecosystem.
The benefits of Web3 companies are manifold.
For instance, they offer us enhanced privacy by allowing us to own and control our personal data.
They also enable new forms of peer-to-peer collaboration and commerce, cutting out intermediaries and lowering transaction costs.
They also foster innovation by providing a fertile ground for developers to create decentralized applications that can disrupt traditional industries.
But what exactly do these companies do?
They build decentralized platforms such as decentralized finance (DeFi) platforms that allow us to borrow, lend, and trade cryptocurrencies without relying on banks.
They are also the architects of NFTs. And finally, they have been able to create decentralized social networks, where users have more say in content moderation and governance.
In essence, Web3 companies are driving a paradigm shift from centralized control to individual empowerment in the digital realm.
And to truly understand Web3, it is essential to delve deeper into this exciting field.
To understand Web3 better, we need to study the companies that are shaping our digital future and not just discover the technologies that move their innovations but understand how Web3 is not just a technological advancement but a movement toward a more open, equitable, and user-driven internet.
So, dear reader, if you are curious about the transformative power of Web3 companies and how they are rewriting the rules of the digital game, I invite you to keep reading.
Types of Web3 Companies
Here are some of the types of Web3 companies:
- Decentralized finance (DeFi) companies are building applications that allow users to borrow, lend, and trade money without the need for a central authority.
- Non-fungible token (NFT) companies are creating digital assets that are unique and cannot be replicated. NFTs can be used to represent anything from art to in-game items.
- Web3 infrastructure companies are building the underlying technology that will support Web3 applications. This includes companies working on blockchains, decentralized storage, and peer-to-peer networks.
Top Web3 Companies
To better understand the Web3 companies and their industries, we divided all the top Web3 companies into five distinct industries by popularity, placing each of the Web3 companies into the industries they belong.
- NFT: Opensea, Rarible, SupeRare
- Web3 Infrastructure: ConsenSys, Alchemy, Dappa Labs, Polygon, Infura, StarkWare, The Graph, Parity Technologies
- Gaming: Sandbox, Vulcan Forged, Nakamoto Games
- Social: Lenstube, Paragraph, Bluesky
- Cryptocurrency Exchanges: Binance, Gemini, Coinbase, Kraken
NFT (Non-Fungible Tokens)
On the NFT scene, there is one powerhouse running the show on the NFT scene, there is one powerhouse running the show with over 300,000 active users and a market capitalization of over $10 billion. This powerhouse is called OpenSea, and it is the largest peer-to-peer marketplace for NFTs.
Here’s an overview of the top web3 NFT companies:
Opensea is a leading NFT marketplace that has revolutionized the way digital assets are bought, sold, and traded. The developers at Opensea have provided a platform for traders and NFT enthusiasts to explore, discover, and transact on a wide range of unique and valuable digital items.
On the OpenSea marketplace, you can find NFTs in art, collectibles, virtual real estate, domain names, music, and gaming items.
Rarible is the first community-owned NFT marketplace where you can create, buy and sell digital collectibles/ The project is based in Moscow and was founded by Alex Salnikov and Alexei Falin in early 2020.
Users can access the marketplace to create and display their artwork. They can also collect the art pieces displayed by purchasing them in a marketplace and hence a user has complete ownership over his/her assets.
Super Rare NFT Marketplace is one of the best marketplaces that is built on the Ethereum blockchain. The exchange sells ERC 721 NFTs but only from a select group of artists.
Unlike Opensea or Rarible where anyone can put up their NFTs for sale, only approved sellers can list on Super Rare which pretty much backs up the name “Super Rare”. This exclusivity makes Super Rare like a private gallery.
Artists must submit an application and get approval from Super Rare, which means the NFTs on the exchange must be of high quality. The screening process is also useful in eliminating fraud, to ensure that the NFTs being sold are legitimate.
Web3 infrastructure is a term used to describe the underlying technology that powers decentralized applications (dApps). ConsenSys, Alchemy, and Dapper Labs are three of the leading companies developing Web3 infrastructure.
ConsenSys is a web3 company founded by Ethereum co-founder Joseph Lubin. ConsenSys isa web3 company known for building Ethereum-based infrastructure and applications, including the popular MetaMask wallet.
The company has over 1,200 employees and offices in over 30 countries providing consulting services to businesses looking to adopt blockchain technology.
They have been involved in a number of high-profile projects, including the development of the Ethereum Name Service (ENS) and the InterPlanetary File System (IPFS). ConsenSys is also a major investor in a number of blockchain startups.
Alchemy is a blockchain development platform that provides developers with the tools they need to create decentralized applications (dApps).
It does this by providing a suite of services, including infrastructure, APIs, and developer tools. Alchemy’s mission is to “empower the builders of tomorrow by providing them with the tools they need to create the future of technology.”
The Alchemy team is made up of experts in blockchain, AI, and massively scalable infrastructure. They have deep experience in building and running large-scale systems, and they are passionate about using blockchain technology to solve real-world problems.
Alchemy is backed by some of the most respected names in the technology industry, including Stanford University, Coinbase, and the Chairman of Google. This support is a testament to the company’s potential and its ability to deliver on its mission.
Dapper Labs is a Vancouver-based web3 gaming company specializing in creating web3 games and NFT collectibles for a variety of audiences.
Dieter Shirley and Mack Flavelle founded the company in 2018, with a strong focus on consumer-centricity. The company prioritizes the needs and opinions of its customers.
In 2017, Dapper Labs launched CryptoKitties, by allowing gamers to breed and rear digital cats as NFTs.
They also have a huge hand in the development of NBA Top Shot, an NFT card trading system similar to Pokemon Cards, but it allows holders to trade rare clips of an NBA player’s shots or gameplay.
See also: Biggest Web3 Gaming Companies in 2023
As you should know, one of the basic features of Web3 technology is its decentralized feature. This has been made possible through the Ethereum network, but serious challenges such as scalability and cost challenges hampered the massive adoption and growth of this technology that was created by Ethereum.
These challenges have been reduced by a lot through the contributions of the polygon network. The Web3 company has been able to address the issue of scalability and cost challenges that have plagued blockchain networks especially the Ethereum blockchain through its layer 2 technology, causing an increase in the utilization and adoption of Web3 technology and this can be seen through. This can be seen as the Web3 company now has over 19,000 dApps and over 130 million users.
Polygon network brings speed, security, and scalability and also helps in providing the necessary infrastructure needed in the Web3 community, making it one of the biggest Web3 companies around.
Some other web3 companies that provide infrastructure include:
- The Graph
- Parity Technologies
Since the COVID-19 pandemic, gaming has received a whole lot of attention lately, 10-year-olds, 15-year-olds even working-class citizens are all jumping in on the action without a second thought.
It’s no longer a pastime activity for the younger generation. Even 40-year-old dads with fully-fledged dad bods are now immersing themselves in virtual words without hesitation.
Nowadays, the surge is not just limited to traditional gaming companies. Even Web3 companies have now emerged as key players.
These Web3 gaming companies are all working to create a new paradigm for gaming that is more open, fair, and player-centric. They are also attracting a lot of attention from investors and gamers alike. In fact, the total value of all in-game assets on The Sandbox and Decentraland is estimated to be over $1 billion.
The future of gaming is looking very exciting, and these companies are at the forefront of the revolution.
The Sandbox is a decentralized gaming virtual world where players can create, build, buy, and sell digital assets in the form of LAND, ASSETS, and TOKENS.
It is built on the Ethereum blockchain and uses the ERC-721 token standard for its NFTs. Gamers can use the VoxEdit tool to create their own 3D assets, which can then be used to build on LAND, which is a scarce resource in the game. LAND can be bought and sold on the Sandbox Marketplace.
Vulcan Forged is another web3 gaming company that hosts an NFT marketplace, DEX, and an expansive collection of games.
This establishment is situated in the heart of London, United Kingdom. They provide various services such as an NFT game studio, a marketplace, a dApp incubator, and game development services.
They are also notable for pioneering their own play-to-earn web3 game called Vulcan Forged. The game’s features, marketplace, and applications are all hosted on the Ethereum blockchain.
Nakamoto Games is a Polygon-based web3 gaming company prominent in building play-to-earn games where players can earn cryptocurrency while gaming and developers can deploy games to a wider user base.
Nakamoto Games offers a platform for developers to place their games on their hub for a wide variety of gamers to download and play similar to how developers drop their games on Google Play Store.
Developers also have the liberty to monetize their play-to-earn games in versatile ways, creating interesting earning possibilities for skilled developers.
See also: Biggest Web3 Gaming Companies in 2023
Here are the top web3 social media platforms developed by the best web3 companies in 2023:
Lenstube is a decentralized video-sharing web3 social media similar to YouTube. It is an open-source platform based on the Lens Protocol and content creation is similar to TikTok or Youtube shorts.
Paragraph is a web3 social media developed by its native web3 company Paragraph that easily combines the power of decentralization with your Web3 social media presence. True ownership, enhanced engagement, and a secure ecosystem are woven into the fabric of your content, creating a more authentic connection with your audience.
It also turns your posts into collectibles that readers can collect to become stakeholders in your content.
Bluesky Social is a web3 social media platform that plans to provide users with a decentralized and user-centric experience.
The web3 company and its platform was created by Jack Dorsey after the sale of X(formerly Twitter) to the current holder and billionaire, Elon Musk.
See also: Top 6 Web3 Social Media Platforms
A crypto exchange works in a similar way to stocks. They allow for the buying and selling of cryptocurrencies and trading of commodities against established fiat currencies like the US Dollar (USD) or the British Pound (GBP).
All of these exchanges offer a variety of features and services, so it is important to compare them before choosing one. Some factors to consider include the fees, the security, the variety of cryptocurrencies offered, and the customer support.
Binance is a web3 company and cryptocurrency exchange that offers a variety of features on their trading platform including spot trading, margin trading, futures trading, and staking.
It is one of the largest cryptocurrency exchanges in the world by trading volume. Binance was founded in 2017 by Changpeng Zhao, a Chinese-Canadian business executive.
The web3 company is headquartered in the Cayman Islands.
Gemini is a web3 company founded in 2014 by Cameron and Tyler Winklevoss, the twins who famously sued Mark Zuckerberg over the idea of Facebook. The exchange is headquartered in New York City.A cryptocurrency exchange that offers a variety of features, including custody and security.
Gemini is another cryptocurrency exchange that offers a variety of features, including custody and security. It is one of the most secure cryptocurrency exchanges in the world.
Coinbase is a cryptocurrency exchange that offers a variety of features, including buying and selling cryptocurrencies, as well as storing and transferring them. It is one of the most popular cryptocurrency exchanges in the world. Coinbase was founded in 2012 by Brian Armstrong and Fred Ehrsam. The exchange is headquartered in San Francisco, California.
Kraken is a cryptocurrency exchange that offers a variety of features, including buying and selling cryptocurrencies, as well as margin trading and futures trading. It is one of the most popular cryptocurrency exchanges in the world. Kraken was founded in 2011 by Jesse Powell. The exchange is headquartered in San Francisco, California.
Filecoin – A web3 company that offers services similar to Google Drive but stores information on a chain hosted by a network of nodes.
Helium – A decentralized wireless network that allows devices to connect and communicate with each other without the need for a traditional cellular or Wi-Fi network.
Orchid – A decentralized VPN that allows users to connect to the internet anonymously and securely.