Web3 Business Models

over 1 year ago

The innovation of Bitcoin and blockchain technology brought a change. At first, it seemed like another test in technology, but we witnessed the massive growth and adoption of Bitcoin. The innovation allows a lot of tech-savvy to have a chance to create their own economy and allows many people to benefit from them. As I used to say, Bitcoin is a “good-good” technology. Just like the Superman. :)

This invention created a bunch of thriving businesses that will make the future. I will list them (the ones I know and remember) and explain their purpose.

Web3 Business Models

Blockchains:

These are the base and the power source of why we have the industry running. They are in charge of the development and placement of the structure and protocols. These are chains like Hive, Binance chain, Ethereum and others.

Decentralized finance:

This is the primary purpose of Bitcoin, but other blockchains are expanding it. They build financial applications and platforms like Banks that don’t need intermediaries. They offer services like lending, Dexs, fixed investment(farming) and others. Examples are Pancake swaps, DYDX, Uniswap, Hive engine on Hive.

Centralized finance:

The invention of Bitcoin got the attention of some people that understood the need for trades and they provide centralized wallets, which means they have access to your money and they can block, limit and mess with your account if they want to. Not the best place to put your money, but still a place to trade when you need to. Examples: Binance exchange, Houbi, Coinbase and others.

NFT marketplace:

NFT projects allow digital creators to create and sell digital assets on the blockchain with a unique digital signature on every asset. These include real estate, football clubs, photos, arts, music and many others. Examples are Opensea, Blur and others.

Wallet Providers:

Wallet providers create safe and secured digital wallets to receive, store and send digital assets (NFT and cryptocurrencies). They are Metamasks, Trust wallet and others.

Middleware/ Blockchain development tools:

These are people that make blockchain development faster. They provide tools and SDKs that serve as a propeller for dapps development. They are Moralis, Alchemy and others.

Blockchain and smart contract auditing:

These are companies that focus on the security of blockchain and smart contracts. Eg, Kacken, OpenZeppelin, Certik and others.

Decentralized Identity:

These platforms provide solutions that allow self-sovereign identity which gives users control over their data. Eg. Nametag.

Blockchain and decentralized storage providers:

These are the AVS on the blockchain and they provide storage in a way that data are stored securely but transparent. Eg. Filecoin, IPFS and others.

Decentralized social media:

Hive should be the bedrock of them while it still serves the big purpose of blockchain technology. Thus, we have Mirror, Leofinance, Hive and others.

Decentralized Gaming companies:

The game industry is still leading in the entertainment sphere. These companies build decentralized platforms with NFTs for gamification and true ownership. These are Splinterlands, The Sandbox and many others.

Decentralized Autonomous:

This is the future of companies. These companies are controlled by the smart contract and the votes of the community member for governance and decisions.