Follow Web3 news and funding trends with our daily updated dashboard on startups and investment in the Web3, crypto and blockchain sectors, based on Crunchbase’s comprehensive data.
Last updated: 12/11/2024
Eleven companies joined The Crunchbase Unicorn Board in April 2024 鈥斅燼 big jump up from the six companies that joined in April 2023 but still a fraction of the 40 added to the board in April 2022.
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The Web3 Tracker is a one-stop shop for following Web3 trends, news and data about venture funding and leading investors in the sector.
Web3 refers to the next evolution of the internet primarily built on blockchain technology. While the concept has been around for just under a decade and didn’t enter mainstream usage until a few years ago, the Web3 sector has attracted more than $100 billion in investment, Crunchbase data shows.
Web3: A brief history
Whereas Web 1.0 represents the early days of the internet and its static, heavy content-related nature, Web 2.0 was the maturation of that into a more user-generated network that brought about more utility, sharing and interactivity.
Web3 could be the most significant step yet. The term was coined by 听肠辞-蹿辞耻苍诲别谤听 in 2014 and refers to moving the internet toward decentralized technologies with the promise of increased transparency and accessibility. Proponents say the shift toward Web3 will make the internet open to more innovative technologies and shift power away from large tech companies.
Web3 is an umbrella term used to describe a new iteration of the Internet that鈥檚 primarily built on blockchain technology.
While the Internet of today鈥攐r Web2鈥攑rimarily focuses on user generated content, social networking and cloud computing, Web3鈥檚 core focus is on decentralization, transparency and accessibility. The technology ushering in this new era was created in response to the centralized nature of the Internet and the perception that a handful of large corporations control what is and isn鈥檛 allowed on the web. Web3 proponents say it puts the power back into the hands of users and creates a more open, transparent and accessible Internet ecosystem.
A few examples of Web3 companies in the U.S. include , a developer platform that helps companies build reliable decentralized applications; , a platform for Ethereum scaling and infrastructure development; and , a startup that鈥檚 focused on making it easier for traditional data sources, such as APIs, to connect with blockchain technology.
The top three Web3 startups by total funding are , with $4.1 billion raised; , with 拢1.5 billion ($1.8 billion) raised; and , with $1.7 billion raised.
The top three startups in the Web3 ecosystem with the highest valuations are , valued at $32 billion; , valued at $14 billion; and , valued at $13.3 billion.
While Web3 isn鈥檛 a technology, there have been innovations created based on what the concept represents: a decentralized internet. An NFT, or non-fungible token, is an example of one such innovation. NFTs allow individuals to claim ownership over digital art and other assets. For example, if you鈥檙e an artist, you can turn an art piece into an NFT and sell it on a marketplace like . To purchase the NFT, an individual might pay you 5 Ether for ownership rights. Your newly acquired Ether coins could then increase (or decrease) in value based on demand and market conditions.聽
A cryptocurrency is a digital currency that鈥檚 tradeable and uses cryptography to secure transactions. To create more transparency, these transactions are primarily stored on the blockchain, making them completely traceable.聽
There are a wide variety of cryptocurrencies, each with its own use case. For example, Bitcoin is considered a store of value. Stellar Lumens (also known as XLM), the token created by the , was created to help individuals transfer money quickly. These cryptocurrencies, and many like them, can be used for things like investing and making purchases.聽
Note: please do your research before investing in any cryptocurrency or digital asset.
No. Web3 is the name used to describe the innovations that blockchain technology has given rise to. Cryptocurrency is the digital currency used within the blockchain ecosystem.聽
To understand how Web3 works, first you need to know the basics of blockchain technology. The blockchain is a distributed database, or ledger, that鈥檚 not owned by any one entity (decentralization). It stores information, such as cryptocurrency transactions, in a digital format that can鈥檛 be edited or deleted (transparency). This information is stored in a 鈥渂lock鈥� that connects to other blocks when it reaches storage capacity limits, creating a chain. Hence the name blockchain.聽
With the transparent and decentralized nature of the blockchain, developers are now building a new wave of innovative applications that leverage this technology; what is now known as Web3.
Yes. Our Web3 Tracker is a public resource. We do ask that you please cite Crunchbase as the data source and include a link to the Web3 Tracker when possible. For additional press inquiries, email press@crunchbase.com.
Please reach out to support@crunchbase.com if your company鈥檚 data needs to be updated or if something is missing.
All of our Web3 news and trends coverage is here.
$1B
Public.com is an investing platform that helps people be better investors. Members can build a portfolio with any fractional asset -- from stocks, ETFs, and crypto to NFTs, art, and collectibles. On Public, ownership unlocks an experience of content and education, contextual to their portfolio, created by a community of millions of investors, creators, and analysts. Users can trade in stocks, options, bonds, and cryptocurrencies, with an emphasis on multi-asset investment opportunities and AI-powered data analytics.
New York, United States, North America
Number of Acquisitions 3
Total Funding Amount $414M
$3B
Blockstream is a blockchain technology supplier that has remained at the forefront of cryptography and distributed system research. Their products and services form the foundation for the financial infrastructure of the future. Blockstream offers a range of key products and services designed to enhance Bitcoin and blockchain functionality. Notable offerings include Blockstream Satellite, which broadcasts the Bitcoin blockchain via satellite for users without internet access, and the Liquid Network, a sidechain solution that enables faster and more confidential transactions. Their Green Wallet is a non-custodial Bitcoin wallet focused on security and user control. Additionally, Blockstream provides blockchain APIs for developers to integrate blockchain functionalities into their applications, along with solutions for efficient Bitcoin mining operations. They also focus on cryptographic proofs to enhance privacy and security in transactions. Together, these products aim to improve the usability and capabilities of Bitcoin and blockchain technologies.
Montr茅al, Canada, North America
Number of Acquisitions 3
Total Funding Amount $299M
$4B
Celestia is a modular blockchain network provider that deploys a decentralized blockchain without the overhead of bootstrapping a new consensus network. Its platform offers a scalable general-purpose data availability layer for decentralized applications and trust-minimized sidechains, allowing application builders to optimize efficient data storage and collectively store block data. The company was founded in 2019 and is based in Vaduz, Liechtenstein.
Vaduz, Liechtenstein, Europe
Number of Acquisitions 0
Total Funding Amount $157M
$2B
Story Protocol is a web3 technology developer whose goal is to change the way narrative universes are formed. The company's technology enables creators to develop a narrative plot with ownership and motivation by allowing them to create, control, and license intellectual property on-chain.
Bellevue, United States, North America
Number of Acquisitions 0
Total Funding Amount $134M
$1B
Lukka specializes in managing and processing complex blockchain and cryptocurrency data, making it accessible and useful for businesses. The company focuses on financial applications, offering tools for accounting, auditing, tax reporting, and compliance within the digital asset space. Its products include LukkaTax, a software solution designed to simplify tax calculations and compliance for individuals and businesses dealing with cryptocurrencies. LukkaCrypto Office serves as a back-office solution for managing crypto assets, providing features such as pricing, valuation, and reporting. Additionally, Lukka Reference Data offers normalized data for crypto assets, ensuring consistency and accuracy for enterprise applications.
New York, United States, North America
Number of Acquisitions 3
Total Funding Amount $201M
$20B
JD Finance is a leading global digital technology company, providing all-round digital solutions for financial institutions, merchants and enterprises, governments, and other customers. Based on new generation information technologies such as big data, artificial intelligence, cloud computing, blockchain, etc., the company provides customers with a full range of services of "Technology + Industry + Ecosystem" to create an industrial digital "TIE" model. The core business is divided into three major digital solutions: digital solutions for financial institutions, digital solutions for merchants and enterprises, and digital solutions for governments and other customers.
Beijing, China, Asia
Number of Acquisitions 0
Total Funding Amount $3B
$15B
Discord operates as a voice, video, and text communication service to talk and hang out with friends and communities. It was originally created for people who loved to play games, but these passionate people realized it could be enjoyed for more purposes. Discord is now used by everyone from local hiking clubs, to art communities, to study groups.
San Francisco, United States, North America
Number of Acquisitions 3
Total Funding Amount $979M
$13B
OpenSea is a peer-to-peer marketplace for crypto collectibles and non-fungible tokens. It includes collectibles, gaming items, and other virtual goods backed by a blockchain. On OpenSea, anyone can buy or sell these items through a smart contract.
New York, United States, North America
Number of Acquisitions 3
Total Funding Amount $427M
$12B
Dunamu owns and operates a digital asset exchange (UPbit), two investment exchange platforms (Stockplus and U-Stockplus), and an equity management platform (Onboard). UPbit is a cryptocurrency exchange platform with presence in Korea, Indonesia, Thailand, and Singapore. Stockplus is a securities information/trading platform with an active partnership with 11 broker-dealers. U-Stockplus is an OTC platform providing a trading service for private companies. Onboard helps private companies manage equity electronically for their shareholders.
Seoul, South Korea, Asia
Number of Acquisitions 0
Total Funding Amount $741M
$10B
Alchemy is a web3 developer platform that helps companies to build reliable decentralized applications. Its mission is to provide developers with the fundamental building blocks they need to create the future of technology without the hassle of managing blockchain infrastructure in-house.
San Francisco, United States, North America
Number of Acquisitions 3
Total Funding Amount $564M
$100M
DeFi.app helps to make DeFi trading easier while keeping full ownership of crypto assets. It also helps to manage CEFI and DEFI more effectively.
Number of Acquisitions 0
Total Funding Amount $2M
$275M
USDX is a synthetic USD stablecoin that employs a multicoin arbitrage strategy as backing, maintaining a delta neutral approximate dollar position through balanced trading across various digital assets.
Hong Kong, Hong Kong, Asia
Number of Acquisitions 0
Total Funding Amount $45M
$17M
OpenPad stands as a decentralized investment platform tailored for Web3 protocols, providing a comprehensive solution for capital infusion, liquidity support, and community engagement. Utilizing enhanced AI algorithms, OpenPad鈥檚 investor portal provides curated investment suggestions to various users based on their past investments. Powered by Al Innovations.
Singapore, Singapore, Asia
Number of Acquisitions 0
Total Funding Amount $3M
$1B
Public.com is an investing platform that helps people be better investors. Members can build a portfolio with any fractional asset -- from stocks, ETFs, and crypto to NFTs, art, and collectibles. On Public, ownership unlocks an experience of content and education, contextual to their portfolio, created by a community of millions of investors, creators, and analysts. Users can trade in stocks, options, bonds, and cryptocurrencies, with an emphasis on multi-asset investment opportunities and AI-powered data analytics.
New York, United States, North America
Number of Acquisitions 3
Total Funding Amount $414M
$110K
Number of Acquisitions 0
Total Funding Amount $10K
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