Home Technology Follow the startups, investors, and technologies powering the next generation of the internet

Follow the startups, investors, and technologies powering the next generation of the internet

Follow the startups, investors, and technologies powering the next generation of the internet

Editor’s Note: Today Crunchbase News Launches Crunchbase Web3 Tracking, a new site to watch startups, investors, and funding news on all aspects of Web3, cryptocurrencies, and blockchain. Powered by Crunchbase‘s, this site will be continually updated as the next iteration of the Internet develops. We hope that this data and our analysis will serve as resources for readers to follow and understand the Web3 landscape and all that it encompasses.

For the last year or so, there has perhaps been no bigger buzzword in tech than “Web3”.

While most hear the term and simply think of crypto, the still loosely defined term has the potential to mean so much more. This is why we are launching Crunchbase Web3 Tracking today.

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Our hope is that the tracker will be a one-stop-shop for what’s happening in the Web3 world, from funding news to the latest startups fueling its build to the latest crypto trends.

What does it mean?

In general, the term Web3 refers to the next evolution of the Internet primarily based on blockchain technology.

While Web 1.0 represents the beginnings of the Internet and its static and content-heavy nature, Web 2.0 was its maturation into a more user-generated network that brought more utility, sharing and interactivity.

Web3 might be the biggest milestone yet. It refers to the evolution of the Internet towards decentralized technologies with the promise of increased transparency and accessibility. Ideally, this would make the internet open to more innovative technologies and keep it away from big tech players who some say have too much control.

More money

There’s a lot of debate about whether this will – or even possibly – be true, but there’s little argument. Web3 and all its aspects have caught the attention of the startup and investor communities.

According to figures from CrunchbaseVC-backed Web3 builders, crypto startups, and blockchain developers raised more than $30 billion last year, up from less than $5 billion in 2020. Already this year, these startups have raised more than $14 billion of dollars, despite a slowdown in the venture capital market.

This funding has led to several startups in the Web3 ecosystem, such as blockchain technology developer Block.one and digital asset trading desk Bitstocks Trading Limited– having raised over a billion dollars alone.

Others like FTX Exchange, Blockchain.com, OpenSea and others have already achieved decacorn status – private companies valued at over $10 billion.

The future

Investors say they believe there are many more opportunities to come in the space. New platforms and infrastructures are needed to create decentralized applications. After that, Web3’s next focus will be what people get out of it, from games to finance to social media.

The Web3 ecosystem can be seen as similar to what happened with Web 2.0, where Google and AWS platforms built that fed it and gave rise to the Twitter and Facebook of the world.

No one can know exactly where Web3 will go and whether it will deliver on the promises people made to it, but with over 1,000 VC-backed startups in the ecosystem having been funded this year alone, it should be an interesting ride. .

We hope this tracker helps you on this journey.

We hope you will find Crunchbase Web3 Tracking be a useful resource for tracking the world’s most valuable companies. Please contact me at cmetinko@crunchbase.com if you have any questions or comments about the Web3 Tracker, or if you spot any missing or inaccurate data.

Stay up to date with recent funding rounds, acquisitions and more with the Crunchbase Daily.


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