The internet will soon evolve from what we use to know today as a space controlled by some big corporations to a completely decentralized space.
Web 3.0 is the next most anticipated iteration of the internet and was widely discussed in 2021 all through this year. However, the Web3 project is still a work in progress but with the vast adoption of NFT, crypto, DeFi and other blockchain-based applications, individuals, business brands and corporations are massively infiltrating the Web3 space.
The Web3 revolution will finally eradicate the recent Web2 regime and decentralize the use of the internet for all.
What are the companies at the forefront of this evolution?
In this article, we will discuss the significance of Web3 and the top 10 Web3 companies you should know in 2024.
What Is Web3?
The Web3(Web 3.0) concept is motivated by the idea of a third generation of the internet. The first iteration of the internet, Web 1.0 allows users to view or read only one website. Subsequently, we evolved to the second iteration of the internet, Web 2.0 where we can build audio and video streaming facilities, connect with people on social media, view and read more than one website and many more, yet it is controlled and centralized around a few groups of tech giants who control user data and the web.
Web3 is anticipated as the next iteration of the internet that will function in a completely decentralized way. Ethereum co-founder Gavin Wood coined the term “Web3” in 2014.
According to Ethereum, “Web3 adopts decentralization and is being created, operated and owned by its users.”
What Is A Web3 company?
The definition and description of a Web3 company are not very clear at its core but certain factors make it distinct from a Web2 company.
Firstly, Web3 companies are directed towards decentralisation of the internet to give operational power to everyone.
Web3 companies would not engage in data ownership procedures, that is to say, that you won’t need to provide your data to sign into the platform but you’d rather connect your crypto wallet.
Web3 companies adopt multiple Web3 technologies which could be artificial intelligence, machine learning, crypto, NFTs and other blockchain technologies.
Top web3 companies In 2024
1. OpenSea:
OpenSea was founded in 2017 and has since then been the most popular NFT marketplace where users can view, create, buy and sell NFTs.
OpenSea is a decentralized, non-custodial and peer-to-peer marketplace which is not controlled by any centralised entity.
OpenSea is fondly called the “Web3 Amazon” due to the wide range of NFTs listed on the platform.
OpenSea has made about $32 billion as an all-time sales volume since it was launched, making it the highest market in sales volume.
2. Irreversible:
This Australia-based Web3 firm was established in 2018. It is the company behind a leading Layer 2 solution for NFTs, “Immutable X”, which powers the next generation of Web 3 games.
Also, as a carbon-neutral platform, mining on the platform is gas-free. Irreversible is supported by Animoca Brands and has raised a fund of up to $279.8 million till now.
3. NFTY Labs:
NFTY Labs is a studio for Web3 venturing which has its headquarters in Miami, Florida. NFTY Labs has the objective of building and supporting products in anticipation of the future Web3.
NFTY Labs builds community-based tools, standards and techniques for NFTs. Also, cross-chain NFT principles and practices are facilitated on NFTY Labs.
4. Spatial:
Spatial was founded by Anand Agarwala and Jinha Lee in 2016.
This company focuses on developing metaverse spaces like virtual art galleries for creators and brands.
The company’s professional team provides 3D, Virtual Reality (VR) rooms to assist users to create their own NFT or non-NFT gallery.
Through this strategy, 3D renderings of one’s sculptures, pottery, paintings, drawings etc in the metaverse.
5. Vayner3:
Vayner3 is a Web3 consulting company founded by an NFT enthusiast and entrepreneur Gary Vaynerchuk, fondly called Gary V.
The company has the aim of guiding international businesses and intellectual property owners on their path to Web3 . The firm also partners with other firms in the Web3 space and the DAO.
The company was known as VaynerNFT before Gary V renamed the company to Vayner3
6. Ariane:
Ariane is an NFT platform founded in 2017 which is mainly concentrated on the luxury and fashion industries. Through the open-source Ariane protocol provided by the company, brands can add digital value to their tangible commodities.
Ariane, in her bid to provide her customers with a wide range of physical experiences through NFT, has collaborated with several global brands like Breitling, Vacheron Constantin and Richemont. The firm also raised €20 million in a Series A round in May 2024.
7. Autograph:
Autograph is an NFT platform headquartered in Los Angeles that was founded by football star Tom Brady. This NFT platform focuses on unifying the world’s eminent brands and idols in sports, culture and entertainment.
The platform has already offered many NFTs from sports stars like Naomi Osaka, Tiger Woods and Simone Biles.
Recently, the platform launched Signature Experiences which provides VIP event access, curated forums, exclusive merchants and others.
8. Sorare:
Sorare is a fantasy soccer game founded in 2018 where players can use their NFT player cards to buy, sell, trade and manage their teams in the game.
The platform also allows users to form a team of five players and participate in a virtual tournament using an Ethereum-based digital card.
Additionally, users who play the games can earn weekly rewards ETH or rare cards. Currently, over 280 football clubs are officially licensed in the sport.
9. Kraken:
Kraken is a crypto platform established in the early days of cryptocurrency invention. The platform was founded in 2011 and it is one of the largest and oldest cryptocurrency platforms in the world for buying, selling and trading crypto.
The company is living its mission of accelerating the adoption of cryptocurrencies to promote global financial freedom.
Crypto.com currently has over 8 million users, institutions and authorities using the platform and it also supports over 185 cryptocurrencies.
10. Crypto.com:
Originally known as Monaco, this crypto platform was renamed Crypto.com in 2018.
Crypto.com is a Singapore-based crypto app which was founded in 2016 and is one of the world’s fastest-growing crypto apps. The platform has attracted over 50 million users trading over 250 cryptocurrencies listed on the platform while supporting trading with the use of over 20 fiat currencies, bank transfers and bank cards.
Conclusion
Web3 has become a very trendy topic in the crypto space recent. There is no doubt that this will be the next iteration of the Internet, given how big companies are investing in the Web3 space to create a decentralized arena for all internet users to carry out their activity without any form of control from big corporations.
