As numerous Web3 events have reiterated since early 2022, bear markets are ideal times for building. Triggered by the Terra ecosystem crash in May 2022 and aptly named as “crypto winter” following the FTX collapse in November, the current bear market saw the crypto market cap shrinking from $3 trillion to below $1 trillion.
While the year-long bear market tore off a good chunk of the market cap, it also presented an opportunity for new ideas to flourish as the industry’s focus shifted from price volatility to innovation. Unfazed by the market conditions, the Web3 ecosystem has continued to build around fresh concepts to prevent the same crashes from happening again and also to find new ways for users to interact with decentralized digital realities.
Monthly active developer count since Bitcoin was launched compared to when Ethereum and its smart contract functionalities were introduced. Source: Electric Capital.
Web3 startups developing unique solutions will have a chance to introduce their work at the join Investors Demo Day organized by Cointelegraph Accelerator together with Cipholio Ventures, Animoca Brands and Brinc. The event is slated for May 31 at 1:30 pm UTC with the aim to provide up-and-coming Web3 projects a platform to share their ideas with a much broader global audience. During the Demo Day, each startup can do their five-minute pitches, followed by a Q&A session with participating VCs.
Here are the seven Web3 startups that will present their projects at Cointelegraph Accelerator’s Investor Demo Day:
GoodCrypto has developed an all-in-one trading and portfolio management app for crypto users. Available on Android, iOS and web platforms, the app supports over 35 crypto exchanges and is integrated with 12 blockchains. GoodCrypto scored over 300,000 app downloads since its launch while bringing in over $600,000 in funding during its seed round led by Cipholio, GSR and Fenbushi, with angel investors participating.
Brickken provides enterprise-level tokenization via an end-to-end self-service platform. From the creation of digital assets to the token sale phase, Brickken’s platform helps enterprises operate a full tokenization process without the need for a technical team. The decentralized application (DApp) launched in February 2023, and the project amassed 18 clients with nearly 200 in the pipeline. The team received $2.6 million in funding during its seed round from Chainlink, Varys Capital, OxCapital, Silver Rock Group and Gotbit.
Operating on Arbitrum’s testnet, 0xdx offers nonfungible token (NFT) options trading where traders can speculate on the price of top NFT collections such as Bored Ape Yacht Club and Pudgy Penguins.
As Web3 gaming becomes one of the most popular activities in the blockchain ecosystem, developers seek solutions to implement smart contracts into their products. Ludex provides application programming interfaces (APIs) and software development kits (SDKs) for game devs without blockchain expertise to implement smart contract functionality into games, enabling Web2 game studios to enter the Web3 era.
Developed by a team of Stanford graduates, Stand rides on the “action-to-earn” momentum to offer a learn-to-earn Web3 platform. It aims to disrupt the education landscape with a decentralized autonomous organization-based (DAO) and bottom-up education for both employers and candidates.
Utilizing the crowded population of the IMVU metaverse, which has over 4 million monthly active users, MetaJuice builds blockchain-driven assets that can be created and owned by metaverse users.
Kola Labs aims to help musicians and creators by developing an audible metaverse where users generate music from their digital assets. Web3 users can establish their identity in the metaverse, prove ownership of their music and monetize their work using decentralized identifiers. Founded by Suda Jiang, the Web3 music startup has secured $800,000 in funding so far.
Launched in 2023, the Cointelegraph Accelerator Program helps promising Web3 startups and projects in getting exposure to a global audience by utilizing Cointelegraph’s leading position in the crypto and blockchain media. The program supports Web3 companies by boosting their media presence, increasing brand awareness and accelerating community growth.
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