The Crunchbase Web3 Tracker
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.
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: 07/03/2024
Web3 company data is available to download for Crunchbase Pro users.
Eleven companies joined The Crunchbase Unicorn Board in April 2024 — a 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.
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 Ethereum co-founder Gavin Wood 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’s primarily built on blockchain technology.
While the Internet of today—or Web2—primarily focuses on user generated content, social networking and cloud computing, Web3’s 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’t 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 Alchemy, a developer platform that helps companies build reliable decentralized applications; Polygon, a platform for Ethereum scaling and infrastructure development; and Chainlink, a startup that’s 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 Block.one, with $4.1 billion raised; Bitstocks Trading Limited, with £1.5 billion ($1.8 billion) raised; and FTX Exchange, with $1.7 billion raised.
The top three startups in the Web3 ecosystem with the highest valuations are FTX Exchange, valued at $32 billion; Blockchain.com, valued at $14 billion; and OpenSea, valued at $13.3 billion.
While Web3 isn’t 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’re an artist, you can turn an art piece into an NFT and sell it on a marketplace like OpenSea. 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.
A cryptocurrency is a digital currency that’s tradeable and uses cryptography to secure transactions. To create more transparency, these transactions are primarily stored on the blockchain, making them completely traceable.
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 Stellar Development Foundation, was created to help individuals transfer money quickly. These cryptocurrencies, and many like them, can be used for things like investing and making purchases.
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.
To understand how Web3 works, first you need to know the basics of blockchain technology. The blockchain is a distributed database, or ledger, that’s not owned by any one entity (decentralization). It stores information, such as cryptocurrency transactions, in a digital format that can’t be edited or deleted (transparency). This information is stored in a “block” that connects to other blocks when it reaches storage capacity limits, creating a chain. Hence the name blockchain.
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’s data needs to be updated or if something is missing.
All of our Web3 news and trends coverage is here.
Animoca Brands is a metaverse and gaming venture capital firm that focuses on driving digital property rights to gamers and internet users through NFTs. It utilizes gamification and blockchain to develop and market a portfolio of mobile applications, games, and additional products oriented to educational learning to ensure transparency, security, and new business models.
Cyberport, Hong Kong, Asia
Number of Acquisitions 25
Total Funding Amount $794M
MONAD is a proof-of-stake (PoS) blockchain and decentralized computation platform that combines the best of performance and portability.
New York, United States, North America
Number of Acquisitions 0
Total Funding Amount $244M
Humanity Protocol is developing Proof of Humanity, a novel feature designed to provide developers with unique-human authentication mechanisms and give users complete ownership over their data and identity.
Hong Kong, Hong Kong, Asia
Number of Acquisitions 0
Total Funding Amount $32M
TaxBit is a cryptocurrency tax and accounting software that automates tax calculations and reports on cryptocurrency transactions. With TaxBit, users can link their exchanges and wallets to seamlessly pull their transactions through their tax engine and auto-generate tax forms. Aside from automating taxes, TaxBit provides crypto enthusiasts with real-time portfolio tracking and tax optimization visibility so that they can make tax-optimized crypto trades throughout the year. TaxBit connects the consumer and enterprise cryptocurrency tax experiences.
Draper, United States, North America
Number of Acquisitions 1
Total Funding Amount $253M
LayerZero Labs is a blockchain messaging protocol developer that allows decentralized applications build across multiple blockchains. The company is a User Application (UA) configurable on-chain endpoint that runs a ULN.
Vancouver, Canada, North America
Number of Acquisitions 0
Total Funding Amount $293M
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
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
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
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
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 2
Total Funding Amount $564M
Intellirock is initiating the digital revolution in the mineral mining industry through AI innovation and decentralizing mining investments with leading direct returns to the investors.
Vancouver, Canada, North America
Number of Acquisitions 0
Total Funding Amount $0
Heirlume is on a mission to democratize brand protection - with the ultimate vision of making it as easy and affordable as registering a domain name. For enterprises, Heirlume empowers marketing/branding and legal teams to work together to search, file, and defend trademarks more efficiently—and affordably. Marketing teams at large companies are continuously ideating new brand and product names, logos, and taglines. But the process of vetting and protecting these trademarks is expensive, slow, and error-prone. Heirlume is a platform built for marketing and legal teams to manage this workflow in one workspace. Built-in consultation with Google and former USPTO examiners, our one-of-a-kind platform is continuously updated to reflect changes to trademark law and practice: the result? Heirlume performs better than the best lawyer... at a fraction of the cost. And the workflow between marketing and legal has never been easier! Heirlume is building a variety of tools in the trademark/ IP space. For Web3, these tools can be leveraged for detecting counterfeit or copycat NFTs, and also help creators protect their work.
Toronto, Canada, North America
Number of Acquisitions 0
Total Funding Amount $7M
Animoca Brands is a metaverse and gaming venture capital firm that focuses on driving digital property rights to gamers and internet users through NFTs. It utilizes gamification and blockchain to develop and market a portfolio of mobile applications, games, and additional products oriented to educational learning to ensure transparency, security, and new business models.
Cyberport, Hong Kong, Asia
Number of Acquisitions 25
Total Funding Amount $794M
MegaETH is the first blockchain in real time and entirely on-chain, immediate, interactive apps are enabling mankind to reach its greatest potential.
Stanford, United States, North America
Number of Acquisitions 0
Total Funding Amount $20M
Hut 8 Mining is a cryptocurrency mining and Blockchain infrastructure company established through an exclusive partnership with Bitfury, one of the world’s leading Blockchain technology companies. Hut8 Mining currently owns bitcoin mining data centers representing 24.2 MW and 165 PH/s that are in operation or under construction, with a pipeline of acquisition and development opportunities across North America. Hut 8 Mining is led by a team of industry experts to provide investors with exposure to Blockchain processing infrastructure and technology along with underlying cryptocurrency rewards and revenue from transaction fees.
Toronto, Canada, North America
Number of Acquisitions 2
Total Funding Amount $9M
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