Web3 is a unique type of decentralized Internet ecosystem based on blockchain technology. This is a great time for Web3 startup companies to up their game and compete with popular Silicon Valley tech companies. The best Web3 startups allow users to monetize their data, invest in crypto tokens, and build financial assets.
With Web3, data ownership shifts to the user, making it a lucrative business platform for startup companies. In fact, a survey by Market Research Future regarding the Web3 blockchain market indicates that the Web3 market size value will grow to $6,187 million in 2023. This article outlines the best Web3 startup companies and why you should work for them.
What Are Web3 Startup Companies?
A Web3 startup is a company that is still in the first stages of development and relies on Web3 technology to run its operations. Web3 is based on blockchain technology, which is cheaper, encourages decentralized structure, improves user safety, and facilitates ownership. Everything from financial payments and transactions to data security is decentralized, increasing accessibility and blockchain platform transparency. This gives companies a competitive advantage.
Top Web3 Companies That Began As Startups
Top Web3 companies that began as startups include Binance and Alchemy. The Web3 era may be gaining popularity in 2022, but this technology has been around for years. Many established companies began as Web3 startups. Insightful people at these companies had a thorough long-term vision and are currently enjoying success in the online community and seeing an increasing pace in Web3 development.
Below are five examples of successful companies that began as Web3 startups.
Big Web3 Companies
- Coinbase Global
The Best Web3 Startup Companies
|Company Name||Location||Funding||Number of Employees|
|AlphaWallet||Raffles Place, Singapore
|$2.3 Million||11-50 (2022)|
|BitPay||Atlanta, Georgia||$40 Million||139 (2022)|
|Brave||San Francisco, California||$30 Million||169 (2022)|
|ConsenSys||Brooklyn, New York||$450 Million||500+ (2021)|
|Decenternet||Hong Kong, China||N/A||51-200 (2022)|
|Luno||London, United Kingdom||$9 Million||733 (2022)|
|Polygon Technology||Bengaluru, India||$450 Million||51-200 (2022)|
|StormX||Seattle, Washington||$9.6 Million||27 (2019)|
|UFOstart||Berlin, Germany||$1 Million||17 (2020)|
|ZenGo||Tel Aviv-Yafo, Israel||$20 Million||49 (2022)|
The Top Web3 Startups: A Closer Look
- Founded: 2017
- Funding: $2.3 Million
AlphaWallet is a successful Web3 startup that develops programmable mobile crypto and Ethereum-based applications for businesses worldwide. It is fully open-source, allowing users to access a range of tools that facilitate wallet customization to fit user needs. The platform features an in-built Web3 browser that guarantees secure transactions and data protection.
Members of the user base can also connect their cryptocurrency wallets to decentralized apps on the browser. The startup accepts seed funding from several investors, including Fenbushi Capital, HashKey Capital, Unity Ventures, and LongHash Ventures. The startup amassed over $2 million in funding from two funding rounds and four investors during their development time.
- Founded: 2011
- Funding: $40 Million
BitPay is a crypto payment service provider based in Atlanta, Georgia. Tony Gallippi and Stephen Pair founded BitPay in 2011, aiming to create a platform where, with Web3 wallets, investors can buy, store, swap, and spend crypto funds. Business people can also use BitPay to accept Bitcoin payments for their goods and services.
With a strong user interface, design primitives include shopping cart plugins, hosted checkout, billing solutions, and mPOS. Active users can also turn Bitcoin into dollars and other currencies. You can access the mobile app on Android and iOS devices.
- Founded: 2015
- Funding: $30 Million
Brave Wallet is one of the best performing Web3 startups developed by Brave Software Inc. It is a secure crypto wallet that ensures user safety by blocking third-party ads, phishing, and data theft. Users can access the built-in crypto tab on the Brave browser, where you will buy, store, and send crypto assets and NFTs and connect all your crypto wallets and decentralized apps.
Brave Reward is a popular feature that allows customers to earn and share rewards on an accessible user interface.
- Founded: 2014
- Funding: $450 Million
ConsenSys is an app development platform where developers build Ethereum products. With an advanced Web3 front end, users develop high-quality applications, build financial infrastructure, and access the decentralized web on the open-source platform.
The startup has extensive product suites, including Truffle, Codefi, Quorum, Diligence, Infura, and MetaMask. There are various user engagement features. For example, ConsenSys features facilitate a faster development time without putting your assets at risk.
- Founded: 2017
- Funding: N/A
Decenternet utilizes blockchain technology and decentralized app operations to deliver functional infrastructure. The net-neutral browser features a Web3 browser, Osiris browser, which allows users to access a native crypto wallet called Osiris Multi-Wallet. Decenternet’s protocol design allows this multi-wallet to expand into major ecosystems.
Moreover, the simple token swap two-field design allows users to integrate ERC-20-based native tokens with secure Web3 applications.
- Founded: 2013
- Funding: $9 Million
Luno is a blockchain-based startup and subsidiary of the Digital Currency Group. The mobile-friendly protocol of the platform allows users to buy, sell, store, and trade crypto through an app-based dealer network. Luno supports various digital currencies, including Ethereum, Bitcoin, Litecoin, Ripple, and USD Coin.
The app is available in over 40 countries and prides itself on over nine million customers.
- Founded: 2017
- Funding: $450 Million
Polygon is one of the best Indian Web3 startups. It is a decentralized Ethereum-based service provider that uses blockchain technology. Users can build scalable decentralized apps in a secure setting using lower-cost blockchain technology. Over 7,000 DAPPs use Polygon’s scaling solutions to improve performance.
Polygon accommodates high-volume OpenSea users. The user base has access to the scaling solution, and OpenSea is a marketplace for NFTs on Polygon. The platform also attracts many investors, including Sequoia Capital India, Tiger Global Management, and Republic Capital.
- Founded: 2014
- Funding: $9.6 Million
Simon Yu and Calvin Hsieh founded StormX in 2015 as a user engagement platform where you can earn crypto in various ways. The primary features include cashback, buying, playing, and stacking options. Users who shop on the closed platform can earn up to 87.5 percent crypto cashback with every purchase.
The startup raised $9 million on its last funding from an NBA jersey sponsorship deal. However, other notable StormX investors include Plug & Play Ventures, Ohana Northwest LLC, and Tango Card.
- Founded: 2013
- Funding: $1 Million
UFOstart is a decentralized community of interconnected people in Web3, including developers, marketers, user researchers, product managers, etc. The company offers an exclusive platform where Web3 enthusiasts can discuss the future of products in relation to digital marketing, Web3 technologies, and blockchain, as well as build stronger communities.
The high number of users, user feedback, and community engagement across all UFOstart platforms are social proof that Web3 technology is in high demand. It shows that through a strong community, successful Web3 ecosystems can be built.
- Founded: 2017
- Funding: $20 Million
ZenGo is a simple crypto wallet founded by Ouriel Ohayon (CEO), Tal Be’ery (CTO), and Omer Shlomovits (Vice President). The startup limits the prioritization of execution over vision by introducing facial recognition technology to ensure user safety.
Additionally, you don’t have to worry about the separation between funds because ZenGo allows you to manage your Web3 VC portfolio in real time in one place.
Benefits of Working at a Web3 Startup
There are several benefits of working at a Web3 startup. Web3 startups are taking center stage in 2022, attracting thousands of job applicants worldwide. You will be part of a seemingly new technology sector and work alongside insightful people. You will learn about cryptocurrency, digital assets, and the Web3 ecosystem. Below are five significant reasons why working for a Web3 startup is beneficial for your career.
Top 5 Reasons to Work at a Web3 Startup
- Innovation. Web3 technology is a fast-growing sector, but the industry is far from reaching its pinnacle. You may work as a Web3 PM with innovative Web3 project websites or get the opportunity to take part in innovations in the crypto ecosystem, blockchain, or improve the design of Web2 companies and Web2 organizations.
- On-the-job training. Working at a Web3 startup offers on-the-job training. The industry is still growing, meaning you will always work with well-respected teams and gain new skills in real time. Although it is crucial to have a background in web development, you will gain knowledge on blockchain technology, crypto assets, and Web3 product vision.
- Great pay. Whether you’re working at a startup or an established Web3 company, you have a chance to earn a lucrative annual salary. According to PayScale, a Web3 developer can earn around $60,844 per year. It is comforting to know that working in a startup doesn’t mean you will work for free. Furthermore, most Web3 startups receive funding, which helps to keep the companies afloat.
- Job security. The US Bureau of Labor Statistics (BLS) projects a 13 percent job growth for web developers and digital designers. However, as more Web3 startup companies come up, the talent market also grows. That means you can enjoy job security while growing within the startup.
- Investment opportunities. Not many people understand Blockchain technology, smart contracts, or how to invest in digital currency and assets. However, working in a Web3 startup allows you to understand the market, risk of vulnerabilities, user engagement, and best-performing assets. Working at a startup places you in a good position to make informed investment decisions before exploring digital investments.
Can a Coding Bootcamp Help Me Get a Job at a Web3 Startup?
Yes, a coding bootcamp can help you get a job in a Web3 startup. Bootcamps are career-specific, which allows you to gain skills that prepare you for a Web3 career. You can learn web development and blockchain technology fundamentals, which are crucial in Web3.
"Career Karma entered my life when I needed it most and quickly helped me match with a bootcamp. Two months after graduating, I found my dream job that aligned with my values and goals in life!"
Venus, Software Engineer at Rockbot
The topics you will cover at coding bootcamps include smart contracts, supply chain management, price impact, the economics of Web3 products, and cryptocurrencies. You will get a chance to learn about growth marketing and meet a community of interconnected people.
Top Bootcamps with Web3 Programs
- Nuclio School. Nuclio School collaborates with Binance to offer a Master in Blockchain and Crypto course. The course covers blockchain 101, payment tokens, smart contracts, and cryptocurrency. Eighty-six percent of Nuclio graduates get a job upon graduation, and 94 percent work in senior roles.
- Wharton Executive Education. The Economics of Blockchain and Digital Assets course at Wharton is a six-week online course that explores use cases, costs, and benefits of blockchain, valuation and investing, decentralized organizations, and decentralized finance. You can also learn digital marketing and data analytics at Wharton Exec.
- MIT PE. MIT PE’s Blockchain: Disruptive Technology course covers the fundamentals of blockchain technology. You will learn its applications and how to use them to achieve maximum benefit in your career or daily life. You will learn about digital signatures, cryptocurrencies, encryption, and smart contracts.
- Udacity. This is a perfect course if you want to acquire technical expertise in Web3 front end or backend, blockchain architecture and fundamentals, or Ethereum DAPP. You will participate in real-world projects and product leadership reviews and access user feedback from experienced reviewers.
- BeachCoders Academy. The Data Structures, Algorithms, Blockchain: CODEWAVE.DS course is perfect for beginners seeking to understand the Web3 model from scratch and the economics of Web3 products. You will also learn rules about crypto and how to develop Blockchain applications and algorithms for your decentralized platform.
Common Jobs in Web3
- Web3 Developer. You will develop apps and Web3 websites based on blockchain technologies. You must understand web development in general and learn the basics of blockchain to make technical infrastructure decisions. Blockchain developers also work with designers to create apps that aim to enhance user experience and product-market fit.
- Smart Contract Engineer. Smart contracts are vital in Web3 because they simplify business dealings. As a smart contract engineer, you will design, run, and test decentralized auto-executing applications. You will also run a smart contract audit to ensure smart contracts are secure and a proxy contract is in place.
- Web3 Consultant. A consultant is part of the core team and a significant participant in the decision-making process. This role involves offering SEO techniques, website analysis, product counsel, and developing marketing strategies for project momentum. Understanding blockchain technology, digital currencies, and web development will give you a competitive advantage during a job interview.
- Community Manager. Web3 technology involves community engagement, and as a senior product leader online, you will be the liaison between the startup and community forums. Community managers offer customer support, build brand presence, and prioritize content distribution to build stronger communities.
- Web3 Designer. You will focus on the product’s design choices, enhancing usability, branding, function, user interface features, and organizational design. You will work with the product marketing manager to ensure the startup maintains and increases its user base by providing seamless experiences.
Should I Work for a Web3 Startup Company?
Yes, you can absolutely work in a Web3 startup company. These companies are skyrocketing and giving employment opportunities to thousands of Web3 experts and aspiring professionals. Additional startups include Bored Ape Yacht Club, Dapper Labs, Crypto Coven, and Terra.
Working at a startup is also an opportunity for you to tap into the fairly new Web3 technology. As Web3’s market domination continues, you will have enough experience to bargain for better positions and grow as the startup grows.
Best Web3 Startups FAQ
For a career in Webb3, you need skills in front end development, community management, smart contract development, design, and blockchain development. You must also understand at least one programming language. An example is Solidity, a blockchain programming language.
Yes, Web3 is centered on blockchain. It is easier for you to apply for jobs in Web3 startup companies with blockchain knowledge. You can learn Web3 in coding bootcamps or course providers like Udemy, Coursera, or the A16z Crypto School.
Yes, you will have job security at a Web3 startup. Web3 startups are coming up rapidly thanks to financial backing from investors like Chris Dixon, Sequoia Capital, and Antler. The rapid growth heightens the demand for professionals, allowing you to enjoy job security and freedom. However, if you are unsure about working for a startup, you can access these opportunities in established Web3 companies.
About us: Career Karma is a platform designed to help job seekers find, research, and connect with job training programs to advance their careers. Learn about the CK publication.