What's a Web3 Company in 2024 and How Web3 Companies Work

A Web3 company uses blockchain, smart contracts, and decentralized protocols to enhance security, transparency, and user control. Financial institutions are increasingly utilizing these Web3 technologies to offer faster, cost-effective alternatives to traditional financial services; however, the Web3 space offers more use cases than finance for the average user.

Lever.io is making waves by connecting Web3 projects with vetted Web3 influencers, thereby enhancing visibility and credibility within the ecosystem. In this article, we highlight what's a Web3 company and how Web3 companies work, shaping the future of the internet in 2024.

Discover how these groundbreaking companies are transforming the digital landscape, and learn about how Lever.io will play a key role in developing outreach for any Web3 company looking to expand their brand presence with influencer and crypto content marketing.

Key Takeaways

• Web3 companies leverage decentralized technologies like blockchain, smart contracts, and dApps to enhance security, transparency, and user control over data and transactions.
• There are five main flavors of Web3 company: Infrastructure Providers, Decentralized Applications (dApps), DeFi Platforms, NFT Marketplaces, and Decentralized Physical Infrastructure Networks (DePIN), each contributing uniquely to the ecosystem.
• Emerging trends in the Web3 space include the expansion of Decentralized Finance (DeFi), integration of AI with blockchain, and the growth of Metaverse projects, driving innovation and redefining user interactions with digital assets and services.

How a Web3 Company Differs from a Web2 Company

Web3, considered the third era of the internet, is marked by decentralized protocols, user-centric principles, and blockchain technology. These technologies are harnessed by companies within this dynamic ecosystem to provide unparalleled user control, security, and transparency.

This article spotlights the top 10 trailblazing Web3 companies, each offering unique contributions to the decentralized technology landscape.

Web3 companies are also bridging the gap between digital and fiat money, particularly in cross-border payments. By connecting digital and fiat money, they facilitate faster settlement processes with pre-negotiated fees, enhancing the efficiency of international transactions.

From blockchain-based services and decentralized applications to financial platforms and NFT marketplaces, these companies embody the innovative spirit of Web3. By exploring their offerings and future directions, we aim to provide a comprehensive overview of the Web3 space and highlight the key players driving this transformation.

Understanding Web3 Companies and Startups Building in 2024

Operating within a novel internet paradigm, Web3 companies employ decentralized technologies such as:

• blockchain
• smart contracts
• cryptocurrencies
• decentralized applications (dApps)

These companies are united by core principles of decentralization, transparency, and enhanced security, aiming to create a more user-centric internet infrastructure for the global community, as opposed to traditional centralized exchanges.

The shift towards Web3 signifies a move away from centralized control towards a system where users have greater ownership and control over their data and transactions.

This new era of the internet is not just about technological advancement but also about redefining how we interact with digital services, paving the way for a more equitable and secure online environment.

What Sets a Web3 Company Apart is Decentralization

Several distinctive characteristics differentiate Web3 companies from their Web2 counterparts. One of the most significant traits is decentralization, which eliminates central authorities and enables direct peer-to-peer interactions.

This decentralization is made possible through the use of blockchain and smart contract technologies, which facilitate secure and automated transactions.

User ownership of data is another core principle, giving individuals control over their personal information and the ability to monetize it. Enhanced privacy measures, such as the use of private keys for authentication, further empower users by providing greater security and control. With digital asset knowledge, individuals can better understand and manage their data.

Additionally, Web3 companies operate in trustless environments, reducing the need for intermediaries and fostering transparency. Decentralized governance further democratizes control, distributing power among stakeholders rather than centralized corporate authorities.

This openness and community-driven approach shift power from central authorities to community members, fostering a culture of privacy and user control.

Types of Web3 Companies

Five primary types encompass Web3 companies:

1. Infrastructure Providers
2. Decentralized Applications (dApps)
3. DeFi Platforms
4. NFT Marketplaces
5. Decentralized Physical Infrastructure Networks (DePIN)

Each category plays a crucial role in building and expanding the Web3 ecosystem, offering unique services and solutions tailored to different aspects of blockchain technology and decentralized operations.

Infrastructure Providers

Serving as the backbone of the Web3 ecosystem, Infrastructure Providers offer essential tools and services, enabling developers and businesses to build atop blockchain technology.

Companies like Hiro Systems, which create developer tools for Stacks to enable apps and smart contracts for Bitcoin, are prime examples.

Celestia and other providers offer the following benefits for businesses:

• Modular data availability network that ensures scalability and verifiability for all users
• Easier launch of secure blockchains
• Access to blockchain’s core services and various innovations

Helius is another notable Infrastructure Provider making significant strides in the Web3 space. Helius offers a comprehensive suite of APIs and developer tools designed to simplify the integration of blockchain technology into various applications. The platform focuses on providing robust, scalable, and secure solutions that cater to both experienced developers and newcomers to the blockchain ecosystem.

Key features of Helius include:

• High-performance APIs for seamless blockchain integration
• Developer-friendly tools and resources
• Scalable infrastructure to support growing applications
• Enhanced security measures to protect user data and transactions

These providers are crucial for established businesses and new ventures alike, as they play a significant role in creating an environment that empowers positive relationships.

Decentralized Applications (dApps) and Platforms

Decentralized Applications (dApps) reflect the tangible application of blockchain technology across diverse sectors, including decentralized exchanges. These applications run on decentralized platforms and utilize smart contracts to provide services without intermediaries.

Friendtech is an innovative platform in the SocialFi space, providing users with a unique way to monetize their social interactions. By leveraging blockchain technology, Friendtech enables users to create and trade social tokens that represent their social influence and engagement.

This approach not only enhances user control over their online presence but also opens up new revenue streams for content creators and influencers.

SocialFi, short for Social Finance, combines social media with decentralized finance (DeFi) to create a more engaging and rewarding online experience. Platforms like Friendtech are at the forefront of this movement, offering features such as:

• Tokenized social interactions
• Decentralized content monetization
• Enhanced privacy and security for user data

These SocialFi platforms are revolutionizing the way we interact online, providing users with more control and financial opportunities. By integrating blockchain technology with social media, SocialFi is paving the way for a more equitable and user-centric digital landscape.

DeFi Platforms

Offering decentralized financial services like lending, borrowing, and staking, DeFi Platforms are reconfiguring the financial landscape. Aave, for example, allows users to lend and borrow cryptocurrencies through a decentralized platform that manages funds with smart contracts.

Maker, another significant player, focuses on creating and managing the stablecoin DAI, enabling users to lock up other cryptocurrencies as collateral to borrow DAI. These platforms eliminate traditional intermediaries, providing more accessible and efficient financial services in the era of central bank digital currency.

Kamino Finance is another innovative platform making waves in the DeFi space. Kamino Finance specializes in lending and automated market making strategies, allowing users to maximize their returns with minimal effort.

By leveraging advanced algorithms and smart contracts, Kamino Finance optimizes ways to earn yield, ensuring users can find better returns than in traditional finance.

These platforms are revolutionizing the financial sector, providing users with more accessible, efficient, and profitable ways to manage their digital assets.

NFT Marketplaces

Specialized platforms for purchasing, selling, and exchanging non-fungible tokens (NFTs) are known as NFT Marketplaces. OpenSea, the world’s largest peer-to-peer NFT and digital collectibles marketplace, allows users to trade a wide variety of NFTs including art, gaming, and music.

Autograph, a sports-centric NFT platform, enables the creation and trading of unique digital collections, expanding the reach of NFTs beyond traditional art and collectibles. These marketplaces play a crucial role in the growing NFT ecosystem, providing platforms for creators and collectors to interact and transact.

Blur is another innovative NFT marketplace that focuses on providing advanced trading tools and analytics for professional traders. It offers features such as real-time price feeds, portfolio management, and multi-marketplace listings, making it a go-to platform for serious NFT investors.

Tensor, on the other hand, emphasizes the social aspect of NFTs, enabling users to create and join communities centered around their favorite digital assets. It offers unique features like community-driven auctions and collaborative collections, fostering a more interactive and engaging NFT trading experience.

These platforms, including Blur and Tensor, are pivotal in the NFT ecosystem, offering diverse functionalities and catering to different user needs, thereby driving the growth and adoption of NFTs.

DePIN

Decentralized Physical Infrastructure Networks (DePIN) represent an innovative fusion of blockchain technology and physical infrastructure management.

By leveraging decentralized governance, token-based incentives, and IoT devices, DePIN aims to enhance transparency, efficiency, and security in various sectors, including smart cities, supply chain management, and energy grids.

These networks enable autonomous, peer-to-peer interactions and transactions, reducing reliance on intermediaries and optimizing resource utilization. DePIN stands at the forefront of revolutionizing how physical infrastructure is managed, promising a more transparent, efficient, and secure future.

Top Web3 Companies to Follow in 2024

Looking forward to 2024, numerous Web3 companies are distinguished by their innovative contributions and potential to influence the future. Companies like:

• Solana
• Pyth
• Jupiter
• Helium
• Backpack Exchange and Wallet
• Wormhole
• Telegram
• Aave

are leading the charge in various aspects of the Web3 ecosystem. These companies are not only pushing the boundaries of what is possible with blockchain technology but are also setting trends that will define the industry in the coming year.

Solana

Solana has established itself as a powerhouse in the Web3 world, known for its high-performance blockchain that supports decentralized applications and crypto-currencies. With its unmatched transaction speeds and low costs, Solana continues to attract developers and projects looking for scalability and efficiency.

In 2024, Solana is expected to further expand its ecosystem with innovative projects and partnerships, maintaining its position at the forefront of the industry. Its robust infrastructure and growing community make it a versatile and accessible platform for developers and users alike.

Pyth

Pyth is revolutionizing the oracle space by providing high-fidelity, real-time financial market data to decentralized applications. By leveraging a network of trusted data providers, Pyth ensures the accuracy and reliability of the data, which is crucial for DeFi platforms and other blockchain applications.

The platform offers numerous benefits for users, including:

• High-frequency, real-time data feeds
• Secure and decentralized data delivery
• Enhanced transparency and trust in financial data

As the demand for reliable data in the Web3 space grows, Pyth is well-positioned to play a critical role in the ecosystem.

Jupiter

Jupiter is a leading aggregator for decentralized exchanges (DEXs), providing users with the best possible rates for token swaps across multiple platforms. By integrating various DEXs, Jupiter ensures that users can access the most efficient trading routes and liquidity options.

The platform supports multiple blockchain networks and offers features such as:

• Optimized token swaps
• Cross-chain compatibility
• User-friendly interface

Jupiter's innovative approach to DEX aggregation makes it a key player in the Web3 trading landscape.

Helium

Helium is pioneering decentralized wireless networks by leveraging blockchain technology to create a global, peer-to-peer network for IoT devices. By incentivizing users to deploy hotspots, Helium ensures widespread coverage and connectivity.

The platform offers unique benefits, including:

• Low-cost, long-range wireless connectivity
• Decentralized network infrastructure
• Token-based incentives for network participants

Helium's innovative approach to wireless networking is transforming the way IoT devices connect and communicate.

Backpack Exchange and Wallet

Backpack is a versatile exchange and wallet platform designed to provide users with a seamless experience in managing their digital assets. With support for multiple cryptocurrencies and blockchain networks, Backpack offers a comprehensive solution for trading, storing, and managing digital assets.

Key features of Backpack include:

• Secure and user-friendly wallet interface
• Advanced trading tools and analytics
• Cross-chain compatibility

Backpack's all-in-one platform makes it an essential tool for crypto enthusiasts and traders.

Wormhole

Wormhole is a cross-chain messaging protocol that enables interoperability between different blockchain networks. By facilitating the transfer of assets and data across chains, Wormhole enhances the connectivity and functionality of the Web3 ecosystem.

The platform offers several advantages, including:

• Seamless cross-chain transfers
• Secure and efficient messaging
• Enhanced interoperability between blockchain networks

Wormhole's innovative technology is bridging the gap between isolated blockchain ecosystems, fostering greater collaboration and integration.

Telegram

Telegram is leveraging its massive user base and secure messaging platform to integrate Web3 functionalities, including decentralized applications and cryptocurrency payments. By providing a familiar and user-friendly interface, Telegram is driving mainstream adoption of Web3 technologies.

Key features of Telegram's Web3 integration include:

• Secure and private messaging
• Built-in cryptocurrency wallet
• Access to decentralized applications

Telegram's extensive reach and user-friendly approach make it a significant player in the Web3 space.

Aave

Aave is a leading DeFi platform that offers decentralized financial services such as lending, borrowing, and staking. By utilizing smart contracts, Aave provides users with a secure and efficient way to manage their digital assets.

The platform offers numerous benefits, including:

• Wide range of supported assets
• Competitive interest rates
• Advanced security features

Aave's innovative approach to DeFi is reshaping the financial landscape, making it a key player to watch in 2024.

Emerging Trends for Web3 Companies in 2024

As Web3 continues to evolve, several emerging trends are shaping its future. These include the expansion of Decentralized Finance (DeFi), the integration of AI and blockchain, and the growth of Metaverse projects. These trends are not only driving innovation but also redefining how we interact with digital assets and services.

Expansion of Decentralized Finance (DeFi)

DeFi platforms are revolutionizing the financial sector by leveraging blockchain networks to offer services like lending, borrowing, and trading without traditional intermediaries. By using smart contracts to manage funds based on specified criteria, DeFi platforms provide more accessible and efficient financial services.

The integration of AI within DeFi platforms is further enhancing their capabilities. AI algorithms analyze vast amounts of data to identify market patterns and optimize investment strategies, while AI-powered trading bots execute trades autonomously to capitalize on market opportunities.

This fusion of AI and blockchain technology is set to drive significant growth in the DeFi space.

Integration of AI and Blockchain Technology

The integration of AI and blockchain is paving the way for more immersive and efficient user experiences in Web3. Advanced AI algorithms are being used to enhance decentralized platforms, providing smarter contract development and better data privacy solutions. Projects like ChainGPT are at the forefront of this integration, showcasing the potential of AI to transform the Web3 landscape.

By combining AI with blockchain technology, Web3 companies can offer more personalized and secure services, ultimately improving the overall user experience. This trend is expected to continue growing as more companies explore the synergies between these two powerful technologies.

Growth of Metaverse Projects

The rise of Metaverse projects is one of the most exciting trends in Web3. These projects create 3D virtual reality spaces that merge VR, AR, and XR technologies for engaging user experiences. Platforms like Roblox, The Sandbox, and Portals allow users to create, connect, and express themselves in immersive virtual worlds, attracting millions of users worldwide.

Metaverse projects are also integrating NFTs and social tokens, enabling users to:

• Own and monetize their digital assets within these virtual environments
• Participate in virtual economies and trade virtual goods
• Create and sell virtual real estate and virtual experiences
• Engage in social interactions and collaborations with other users
• Explore and experience immersive virtual worlds

This fusion of virtual reality and blockchain technology is set to redefine social interaction and commerce in the digital age.

The Importance of Marketing for Web3 Companies

Marketing is vital to the success of Web3 companies, aiding in the growth of brand recognition and profitability. By positioning themselves as early adopters of new technologies, Web3 companies can attract a broader audience and establish themselves as innovative and forward-thinking.

Education is also key in overcoming ignorance and prejudice about blockchain, enhancing understanding of its potential benefits.

Web3 marketing enables companies to reach global markets and deliver personalized messages accurately and efficiently, fostering trust and transparency in their campaigns.

Advancement of Web3 Through Influencer Marketing

Influencers play a pivotal role in Web3 marketing. By partnering with well-known figures who have established credibility and a strong following in the tech and finance communities, Web3 companies can significantly amplify their message.

Influencers help demystify complex concepts, making them more accessible to the general public and driving engagement.

Lever.io, a trailblazer in Web3 influencer marketing, offers a comprehensive platform that connects Web3 projects with vetted influencers. Our platform allows companies to book influencers with a single click, using in-house metrics and a comprehensive dashboard interface to manage campaigns effectively.

Lever.io's approach ensures that Web3 companies can leverage influencer outreach on platforms like YouTube, TikTok, and Twitter, enhancing their visibility and credibility. This innovative approach to marketing provides marketers with new channels for communication, expanding their reach and impact.

By utilizing Lever.io, Web3 companies can tap into the power of influencer marketing to build trust, engage with new audiences, and drive their marketing strategies forward in the decentralized landscape.

Challenges Facing Web3 Companies

Numerous challenges confront Web3 companies, encompassing security and regulatory concerns. Clear legislation and regulation are necessary to reduce companies’ risk perception and encourage investment. Additionally, security and compliance are paramount, requiring robust solutions to maintain the integrity and trust of the ecosystem.

The immutability of blockchain presents challenges in preventing fraudulent activities, making it crucial to integrate traditional fraud detection tools with blockchain solutions. Regular security audits and vulnerability assessments are essential to ensure the reliability of Web3 services.

Future Outlook for Web3 Companies

Where there is a pain point in Web2, there is a Web3 company developing a solution. With the potential to transform industries such as: entertainment, healthcare, banking, and e-commerce, the future outlook for Web3 companies is promising.

Decentralized Autonomous Organizations (DAOs) are gaining mainstream traction, transitioning from niche communities to broader adoption in 2024. More importantly, DAOs have been recognized as a legal form of incorporation by the state of Wyoming since 2021.

As Web3 technologies continue to evolve, they are expected to drive significant changes in how we interact with digital services, fostering a more decentralized and user-centric internet. The next generation of Web3 companies will likely lead this transformation, offering innovative solutions and redefining the digital landscape.

Leveraging Influencer Marketing in Web3

Lever.io has pioneered the first comprehensive Web3 influencer marketing platform, facilitating the connection between Web3 companies and influencers. Our unique marketplace allows companies to book vetted influencers with a single click, using in-house metrics and a comprehensive dashboard interface to manage campaigns effectively.

By leveraging influencer outreach on platforms like YouTube, TikTok, and Twitch, Web3 companies can enhance their visibility and credibility. This new approach to marketing provides marketers with innovative channels for communication, expanding their reach and impact.

In the spirit of Web3, Lever.io removes the middlemen like crypto marketing agencies from the marketing equation. Web3 is about creating community connections, and Lever.io is forging direct collaboration between Web3 startup managers and influencers creating informative content.

Join the Web3 Marketing Revolution with Lever.io

As the Web3 ecosystem rapidly evolves, it's crucial for companies to stay ahead of the curve. Lever.io offers a unique opportunity to elevate your brand's presence in the decentralized landscape. By partnering with vetted influencers, you can tap into new audiences, build trust, and drive engagement like never before.

Ready to take your Web3 marketing to the next level? Visit Lever.io today and discover how our platform can help you connect with the right influencers and achieve your marketing goals. Don't miss out on the chance to be a part of the Web3 revolution—join Lever.io now and transform your marketing strategy for the future.