Web3.0, often known as Web 3.0, is the next path the World Wide Web (www) is heading. The metaverse and Web3.0 are interconnected. Web3.0 and the arising metaverse are related, despite some distinctions. Because their technologies overlap, their collaboration is advantageous to both parties. In this environment, decentralization is essential. In the same way, token-based economies and recently created blockchain systems (cryptocurrencies).
Continue reading to learn more about the Web3.0 uprising and what Web3.0 firms are. To completely appreciate Web3.0, it is also necessary to comprehend Web 1.0 and Web 2.0. This article will highlight five of the top Web3.0 firms globally in 2022 while also talking a little about the web backstory of history.
Web 1.0 (1990 - 2004)
A British man, Tim Berners-Lee, also a computer scientist, started working on the protocols that would eventually make up the World Wide Web in 1989 in Geneva, Switzerland. Berners-Lee, like many computer pioneers, had an idealistic mindset and aimed to develop an open, separate, decentralized and collective platform that would promote knowledge sharing. Web 1.0 was the initial version, which ran from 1990 to 2004. With little user interaction, Web 1.0 was constituted by limited, read-only web pages.
Web 2.0 (2004 - now)
Web 2.0 began in 2004 at the same time as social networking websites like Facebook, including MySpace, and is well noted for read-write capabilities. These startup companies started giving customers the resources to create their own content in addition to providing them with content especially, user-generated content.
Additionally, the aforementioned social networks and forums saw an increase in user participation during that time. One bad side effect of the massive amount of traffic that these sites started to receive was the domination that many of them started to experience. Users may create interesting, original content in this fashion, but they had no control over it and no opportunity to profit from its commercialization, and this was utilized by Facebook and others to construct what is known as the “product placement income model.”
Web 3.0 (2014 - onwards)
The time for more advanced independent web usage, often known as Web 3. Gavin Wood, the co-initiator of Ethereum, gave it a name soon after the cryptocurrency’s 2014 launch. With the added virtue of being untrustworthy and unpermitted, Web3.0 came to spark as far back as the days of the 1980s to 1990s — Lee’s decentralization technological fantasy. This can be accomplished by giving consumers back control in the way of ownership using blockchains, non-fungible tokens (NFTs) and cryptocurrencies. Many Web3.0 businesses are starting to emerge in this new decade of digital innovation.
What is a Web3.0 company?
For a corporation to be categorized as a technological company, a number of criteria related to its business objectives must be met (Web 2.0). Artificial Intelligence, the Internet of Things, and Machine Learning technology are the variety of techniques used in relation to the blockchain. Decentralization is also strictly emphasized.
Why are Web3.0 startup companies fast growing?
Older Web2 startup companies changing their business strategies to benefit from the new realities could be one cause for the emergence of Web3.0-centric startup companies. Out of a sense of freedom and/or humanitarian impulses, Web3.0 developers and businesspeople are investing their intellectual capital in open crypto and initiative related to Web3.0, creating platforms like Ethereum.
Startup companies that were co-founded by company owners and developers who were highly trained in Web3.0 standards are another element influencing the growth of Web3.0 enterprises with a focus on the innovative Web3.0 technological framework.
Now, let’s look at the most prominent Web3.0 firms, briefly outlining the technology, the crucial goods and services provided by each Web3.0 company and explore more on the rest of the listed startup companies.
First on the list is Braintrust. This is the first Web3.0 network based in San Francisco, California, founded with 700,000+ community members. The community may find work at Braintrust at the same time, own, build and make it go record speeds. It is trusted by world-scope enterprises including Nestle, Goldman Sachs, Porsche, Nike, and Atlassian. The company’s market cap as of July this year 2022 is around $200 million.
Second on the list is OpenSea. This is an NYC-based startup company, with a team with backgrounds from Stanford, Pinterest and Google, that is the present largest marketplace for personal goods NFTs including collectables, gaming items, domain names, digital art and others backed by a blockchain. The company’s value as of January 2022 is around $13.3 billion.
Number three is Immutable. This company is empowering the next generation through games and scaling the world’s digital assets. It is an Australian-based startup founded last 2018 that in March 2022 has a valuation of $2.5 billion.
Let’s not forget TRON DAO, founded in 2017, Singapore-based TRON DAO has shown impressive achievement since the launch of MainNet in 2018. The TRON network has over 68 million users on the blockchain with 2.7 billion transactions and hosts the largest circulating supply of stablecoins around the world.
There is also BitGo that is from a startup in California offering digital assets, and financial services and providing company investors in the crypto arena, now has become the first and also the only integrated, all-in-one solution with lending, trading and custody after it launched BitGo Prime in 2020. It processes more than 20% of all worldwide Bitcoin transactions with over 250 tokens and coins combined.
Other startup companies also include NFTY Labs, Spatial, Project Galaxy, Okcoin, 8th Light, Demand.io, Sweet, Uniswap Labs, ConsenSys, Autograph, Sorare, Aptos, CoinList, Kraken Digital Asset Exchange, Crypto.com, Chainlink Labs, Blockchain.com, Ripple, Bitcoin, Depot, Alchemy.
Web3.0 and expansive software, which were built on the cornerstone of blockchain technology, will alter the way entrepreneurs and commercial businesses conduct business. Additionally, this will alter how consumers interact with items. Web3.0 startup companies are promoting a greater sense of community in the entertainment business, giving consumers and participants a lot of control over how, when, where, and why they join. This has been made feasible by decentralized networks, which have also reduced the ability of large social media players to affect the game’s rules. The transition to this medium is anticipated to accelerate as more organizations fully migrate to Web3.0 businesses.
The top five Web3.0 startup companies on the list indicate a future where there will be a drastic change in how people view how business is done, both in terms of the product or commodity and how the client interacts with it.
Some of the first Web3.0 businesses are those that are listed in this article. The number of Web3.0 ventures will increase as more legacy organizations adopt a Web3.0 perspective, and a pattern where the old Web 2.0 world slowly fades away and is replaced by a brand-new norm will start to develop.