Although still a work in progress, Web3 has become a buzzword in 2021 and continues to be widely discussed this year. With the growing adoption of NFT, DeFi, crypto, and other blockchain-based applications, more and more brands, businesses, and individuals are venturing into the Web3 space. So, what are some of the best Web3 companies at the forefront of the Web3 revolution?
In this guide, we’ll cover the basics of Web3 and Web3 businesses. We’ll also discuss the top Web3 companies you should know about this year, as well as the benefits of working in this space.
What is Web3?
In the simplest terms, Web3 (or Web 3.0) is the next iteration of the internet that will be completely decentralized. The term was first coined by Ethereum co-founder Gavin Wood in 2014. To put things into perspective, Web 1.0, the first iteration of the Internet, only allowed one to read or view a website. On the other hand, Web2 is the web we know today, where we can connect with others through social media, create audio and video streaming capabilities, and much more.
However, Web2 is limited by the way a group of centralized tech giants majority control the web and, therefore, user data. In contrast, “Web3 embraces decentralization and is built, operated, and owned by its users,” according to Ethereum. In short, “Web3 puts power in the hands of individuals rather than companies”.
What is a Web3 company?
Although there is no clear definition of a Web3 business yet, a set of factors differentiates it from a Web2 business. First, companies are betting on decentralization. Then they take a step back from typical data ownership processes. As proof, most Web3 companies will not ask you to share your personal data. Instead, to log in to the platform, all you need to do is connect your crypto wallet. Finally, Web3 companies focus on one or more Web3 technologies. It can be artificial intelligence, machine learning, NFTs, cryptography or other blockchain-based technologies.
The Best Web3 Companies You Should Know About
Now that we’ve covered the basics, let’s take a look at the best Web3 companies of 2022 (in no particular order):
OpenSea is the most popular NFT marketplace. Founded in 2017, OpenSea is a non-custodial peer-to-peer NFT marketplace. It allows users to mint, buy, sell and post NFTs. At least in theory, no centralized entity controls the assets of the platform. Due to the wide range of NFTs it offers, OpenSea is often referred to as an “Amazon Web3”. Currently, it is the largest market by sales volume of all time, having amassed nearly $32 billion in sales so far (at the time of writing).
2. Magical Eden
magic eden is the NFT market leader for NFT Solana. A decentralized NFT marketplace on the Solana network, Magic Eden has a trading volume of $1.6 billion. On the platform, users can create, buy, sell and trade NFTs such as digital collectibles and game assets. Reportedly, the platform has over 90% market share of transactions Solana NFT secondaries.
Immutable is an Australia-based startup founded in 2018. The company is behind Immutable X, a leading Layer 2 solution for NFTs, which powers the next generation of Web3 games. Plus, it’s a carbon-neutral platform that delivers gas-free typing. Immutable is backed by Animoca Brands and has so far raised $279.8 million in funding.
4. NFTY Laboratories
NFTY Laboratories is a Web3 venture capital studio headquartered in Miami, Florida. Essentially, the company is focused on “supporting and building products for the Web3 of tomorrow”. In short, NFTY Labs creates community tools, standards and technologies for NFTs. At the same time, it facilitates cross-chain NFT standards and practices.
Founded in 2016 by Anand Agarawala and Jinha Lee, Spatial helps creators and brands develop their own metaverse spaces, such as virtual art galleries. With an experienced team, the company Web3 offers 3D rooms, Virtual Reality (VR) to create your own NFT or non-NFT art gallery. This way, anyone can view 3D renderings of their sculptures, pottery, molds, paintings, etc. in the metaverse.
Web3 Consulting Company, Vayner3 is the brainchild of entrepreneur and NFT enthusiast, Gary Vaynerchuk, better known as Gary Vee. The company works with partners across the Web3 space, including digital worlds and DAOs. It aims to guide global businesses and intellectual property owners on their Web3 journey. While originally called VaynerNFT, Gary Vee recently renamed the company to Vayner3.
An experience-based NFT platform, Sweet offers officially licensed NFTs and collectibles from top teams, brands and artists around the world. Specifically, the platform brings dozens of fans closer to everything from professional sports to live events. Their collections include NFTs from Cleveland Cavaliers, Australian Open, Arrow McLaren and more.
In a word, Exclusive is an organized NFT marketplace bringing luxury to the metaverse. Founded in 2021, the platform features NFTs from luxury brands across fashion, beauty, watches, jewelry, lifestyle, and supercars. Additionally, Exclusible offers a range of luxury penthouses, villas, private islands and more to enjoy in the virtual world.
Founded in 2017, Arianee is an NFT platform dedicated to the luxury and fashion industries. The company offers the open-source Arianee protocol to brands to add digital value to their physical products. Through NFTs, customers can enjoy a range of phygital experiences. So far, the company has collaborated with several global brands, including Breitling, Vacheron Constantin and Richemont. In May this year, the company also raised €20 million in a Series A funding round.
Autograph is an NFT platform that brings together some of the world’s biggest brands and iconic personalities in sports, entertainment and culture. Based in Los Angeles, the company was co-founded by soccer star, Tom Brady. Already, the platform has offered NFTs from sports legends such as Simone Biles, Naomi Osaka, Wayne Gretzkyand Tiger Woods. It recently launched Signature Experiences offering VIP access to events, exclusive products, curated forums and more.
Founded in 2018, So rare is a fantasy football game where players can buy, sell, trade and manage a virtual team using NFT player cards. Using the Ethereum-based digital cards, users can create a team of five players to compete in virtual tournaments. Additionally, users can earn weekly rewards in ETH and/or rare cards. Currently, the game offers more than 280 officially licensed football clubs.
kraken is one of the largest and oldest cryptocurrency exchanges in the world. Founded in 2011, it is one of the leading platforms for buying, selling and trading crypto. The company’s mission is to accelerate the adoption of crypto to facilitate financial freedom for everyone around the world. Currently, it has more than 8 million merchants, institutions and authorities. Also, it supports more than 185 cryptocurrencies.
Based in San Fransisco, Ripple is a leading provider of cryptographic solutions for businesses. It was founded in 2012 by Chris Larsen and Jed McCaleb. By using crypto and blockchain technology, Ripple offers faster, more transparent and more cost-effective solutions than traditional financial services. Through its solutions, customers can source crypto, enable instant payments, strengthen cash flow, reduce capital requirements and much more.
Founded in 2016, based in Singapore Crypto.com claims to be the fastest growing crypto app in the world. Originally called Monaco, the Web3 company was rebranded as Crypto.com in 2018. Currently, the platform has over 50 million users who buy and sell over 250 cryptocurrencies. currencies. Additionally, it supports purchases in over 20 fiat currencies via bank transfer as well as credit/debit card.
Last on the list of best Web3 companies is Alchemy, a Web3 development platform for enterprises to build scalable decentralized applications. In fact, Alchemy powers some of the major NFT platforms and marketplaces. Major Web3 projects such as Cryptokitties, OpenSea, Ledger, Kyber and others use the company’s products to support their infrastructure.
Advantages of working in Web3
Naturally, with the growth of Web3 businesses, there is an increasing demand for Web3 talent. Plus, there are a host of benefits to working in the sector. For example, most Web3 jobs offer remote work opportunities, allowing you to work from the comfort of your home. Plus, Web3 offers something for almost everyone. Whether you’re into design, development, content creation, social media, or community management, there are plenty of opportunities in the industry.
Also, most Web3 jobs offer higher pay than Web2 jobs. You will also be able to be part of exclusive communities and DAOs. The ability to attend Web3 events and conferences around the world as well as the chance to receive NFT airdrops are some of the other benefits of working in this industry.
If you are interested in some of the Web3 companies mentioned above, be sure to check their websites for open positions. We also have a guide that covers all about how to find a job in web3.