The third version of the internet, known as Web 3.0, promises a decentralised, free, and open exchange of digital information. The most frequently discussed subject among investors and businesspeople has been Web3, which includes advanced technology like cryptocurrencies, blockchains, NFTs, and the metaverse. CEOs and company executives from all sectors are anticipating and debating how Web3 may affect their regular business operations and the opportunities it may present. In the Web3 sector, which encompasses a variety of augmented reality features, more than 3.8 billion USD has been invested in businesses this year.
To enable real-world human communication, Web 3.0 makes use of machine learning, artificial intelligence, and blockchain. To make it simple, let’s take an example of video games; web1 can be compared to the snake game where the snake manoeuvres and eats food, Web2 to the Sims or Wii, and Web 3.0 to Animal Crossing, Call of Duty, or the Last of Us. Web 3.0 has the potential to offer customers even greater utility.
To guarantee the most precise and satisfactory results for the end-user, the majority of firms intend to use Web 3.0 technologies. So without further ado, let’s look at Web3 startups.
Top 10 Web3 Startups
Terra
Founded: 2018
Headquarters: Seoul, South Korea
Terra is a decentralised financial infrastructure that was founded in 2018 in Seoul, North Korea. It enables users to make payments using a cryptocurrency that gives price stability and can be used for both payment and other purposes. It provides a decentralised asset that receives its value from transaction costs collected on the Terra network and is an excellent platform for decentralised financial apps. E-commerce platforms that accept the token allow users to make cryptocurrency payments.
Chaingrep
Founded: 2022
Headquarters: Amsterdam, Netherlands
Rosco Kalis established Chaingrep in 2022 as a search engine for digital assets and on-chain transactions. It can be compared to a modern-day block explorer. Blockchain transparency is only good as long as the platforms they’re on make it easy and understandable to comprehend that data, something that will become more crucial as more non-technical people start using web3 platforms. Despite the rapid expansion of blockchains like Ethereum, block explorers are difficult to use and have not improved in years.
The experience of obtaining on-chain information can be much improved by abstracting many of the features of the current block explorers, such as Etherscan, and removing all the unnecessary noise. ChainGrep created an Etherscan for people as a result.
Huddle01
Founded: 2020
Headquarters: Middletown, Delaware
Ayush Ranjan established the video calling network Huddle01 in 2020. Through a decentralised video calling architecture, their work aims to reduce network delay in video conferencing. The business wants to lead the way in delivering real-time communications to Web3. It holds that everyone should have their own digital places so they can freely express themselves.
KrypC
Founded: 2016
Headquarters: Bangalore, Karnataka
KrypC is a blockchain software corporation headquartered in Bangalore that was established in 2016. The corporation has offices in the United States, the Netherlands, and India.
The web3 startup has a lot of patents in the areas of payment solutions, digital currencies, mobile wallets, and security. They provide reduced and ready-to-use software packages to businesses and entrepreneurial innovators so they may deploy and manage innovative solutions with the least amount of time, money, and risk. KrypC recently unveiled KrypCore, the Prototype version of their technology that will break down the barriers that prevent businesses from adopting blockchain and enable them to create their own blockchains. The technology platforms used by the company are Ethereum, Multichain, and Hyperledger.
Pillow Fund
Founded: 2021
Headquarters: Bangalore, Karnataka
Pillow is a decentralised finance investment platform that enables customers to maximise their cryptocurrency earnings with minimal inconveniences. The research team at Pillow looks through 500+ protocols on ten different chains to determine the most secure approach to earn as maximum profits as possible. Users invest in Pillow in one step rather than having to bend over backwards and going back and forth from an exchange to a custodial wallet to bridge the right chains and discover the right assets.
GuardianLink
Founded: 2016
Headquarters: Chennai, Tamilnadu
A no-code NFT (Non-Fungible Token) platform called GuardianLink enables artists, businesses, celebrities, and innovators from all over the world to design their own dropships for their NFTs. This company allows high-end businesses and artists to create their own no-code customised NFTs utilising built-in templates and efficient contract management. Their primary services are the Legitimacy Protocol, No Code NFT Platform, Cross-Blockchain Royalty Rights, and Cross-Marketplace. GuradianLink has taken an extra step to ensure the security and legitimacy of NFTs and the maker’s personal details to avoid data theft.
Damini Bhandary
Biconomy
Founded: 2019
Headquarters: Singapore
Biconomy is a platform for developers that enables blockchain developers to improve the transactional and onboarding capabilities of their Web3 apps. The plug-and-play strategy enables Web3 interactions between Decentralised applications and end-users to be fluid and smooth by minimising blockchain difficulties. By enabling free interactions with public blockchains through Meta Transactions, apps that take advantage of the incredibly straightforward yet elegant architecture Biconomy has developed will see a dramatic increase in user retention and acquisition.
In order to enable the integration of a decentralised payment service into services, Biconomy provides a cross-chain transaction mechanism that can work across different blockchains.
Polygon
Founded: 2017
Headquarters: Bangalore, Karnataka
The Ethereum scaling platform Polygon is well known for allowing programmers to create scalable DApps with minimal transaction fees without compromising security. A customised proof-of-stake consortium blockchain is used by Polygon, allowing for uniformity on each block.
While preserving the interoperability, security, and structural advantages of the Ethereum blockchain, the Polygon platform can increase a blockchain project’s scalability, sovereignty, and flexibility. MATIC is used for network administration, payment network transaction fees, and securitisation. Participants in the network can stake their MATIC using the proof-of-stake method in exchange for the right to authenticate Polygon network transactions. Then, efficient miners in the Polygon Chain network receive MATIC as payment.
Crucible Network
Founded: 2018
Headquarters: London, England, United Kingdom
Today’s networks and systems are largely compartmentalised. You need a ton of usernames and passwords, and data theft is a major issue. Better management systems and network compatibility for the user are needed with the advent of quickly advancing virtual and augmented reality, hyper realism, and world-building technologies. Crucible Network develops tools for game creators and gives players a portable identity. Crucible Network aspires to unite the top blockchain and tokenisation game creators with mid-tier, indie, and AAA game developers to build a sandbox.
Covalent
Founded: 2018
Headquarters: Vancouver, Canada
In order to make billions of Web 3 data points visible, Covalent offers a uniform API. Covalent provides developers with a single API that enables them to extract precise, granular blockchain transaction data from many blockchains without writing any code. Using information from more than 27 different blockchains, developers can use Covalent to create multi-chain applications like investor dashboard tools, cryptocurrency wallets, and NFT galleries.
Conclusion
The Semantic Web, as it was originally imagined by Berners-Lee in 2001, has significantly evolved with the advent of Web 3.0. A decentralised ecosystem built on blockchain technology is now envisioned as the internet’s next phase of evolution. It would signal a break from the centralised mega-platforms and businesses that currently rule the ecosystem.
FAQs
What are web 3 Startups?
The companies that uses decentralized internet/web are known as web 3 Startups. Web 3.0 makes use of machine learning, artificial intelligence, and blockchain.
What are the top web3 startups?
Some of the top Web 3 Startups are:
- Terra
- Chaingrep
- Huddle01
- KrypC
- Pillow Fund
- GuardianLink
- Biconomy
- Polygon
- Crucible Network
- Covalent
What are the Indian Web3 Startups?
Some of the top Indian Web3 Startups are:
- Vayupankh.io
- PredictRAM
- 3bewte
- OracleMovies
- Filmrare
