In this article, we will talk about the 25 biggest Web3.0 companies in the world. If you wish to skip our detailed analysis, you can go directly to the 5 Biggest Web3.0 Companies In The World.
Demystifying Web3.0
Web3.0, a cutting-edge technology that could redefine the digital frontiers, has gained massive popularity over time. The rising concerns about privacy and the centralization of the internet have fuelled the Web3.0 hype. Web3.0 is basically a vision for the future of the internet that is decentralized and based on blockchain technology. Web3.0 offers more ownership to the users while enabling them to perform all tasks they can currently perform on the current version of the internet, Web2. Web3.0 refers to a change in the nature of the internet where ownership by corporate networks is substituted by users. It represents the idea where blockchain technology and decentralized systems take center stage, and the users would be empowered in ways they never deemed possible. The shift in ownership and decentralization is the primary distinguishing feature between Web2 and Web3.0.
Web3.0 is also closely linked with metaverse. Metaverse is envisioned as a decentralized space that users can access through extended reality tech such as AR and VR. Metaverse enables users to trade various digital products and assets which requires the use of blockchains. Blockchains and immersive technology are significant central features of Web3.0.
Even though the vision of Web3.0 sounds promising, influential figures like Elon Musk have dismissed the possibility of its existence. Although a complete transformation to Web3.0 seems far-fetched, it is undeniable that Web3.0 is stirring some form of transformation.
According to a report by Grand View Research, the global Web3.0 market was valued at $2.25 billion in 2023 and has been estimated to grow to $33.53 billion by 2030 at a compound annual growth rate of 47.1%. Increased use of the latest technologies like 5G and enhanced consciousness about privacy are expected to contribute to this growth.
In 2022, North America dominated the Web3.0 market, accounting for a global revenue share of over 37.0%. However, the Asia Pacific region has been estimated to have the highest projected growth rate during the forecast period. Incorporating Web3.0 into industries like finance and retail, along with rising traction around blockchain, has been estimated to contribute greatly to this growth.
Web3.0 Revolution: Disrupting Industries
Web3.0 is often touted as the future of the internet. The internet interwinds with almost all industries and businesses today. The introduction and adoption of Web3.0 would cause a fundamental shift in how businesses operate. One of the defining features of Web3.0 is decentralization, it would bring blockchains to the mainstream.
Web3.0 could revolutionize how the finance industry operates. On July 26, CNBC reported that banking giants like JPMorgan, Goldman Sachs, and Citi want to put Wall Street on blockchain, where they can tokenize various assets. Blockchains can be used to maintain a decentralized and distributed ledger. If Wall Street is shifted to blockchain, it will make the role of third parties like market makers and brokers redundant, changing the fundamental structure of the financial sector.
Payment giant Visa Inc (NYSE:V) is also embracing this change. It started testing stablecoin settlement on the issuance side in 2021. It has since expanded to other blockchains that can send and receive stablecoins faster and lower costs. On September 5, Visa Inc (NYSE:V) announced that it has expanded its stablecoin capabilities to the Solana network as it was previously limited to the Ethereum blockchain network. Visa Inc (NYSE:V) has transacted millions of USDC, the second largest stablecoin since 2021, between its partners to settle fiat-denominated payments authorized over VisaNet.
The clothing industry is likewise benefiting from this new technology, using it to advance marketing and branding. Many brands have been exploring immersive reality experiences to interact with their customers. More than 50 brands were a part of the Decentraland Metaverse Fashion Week that was held in March including Adidas, Coach, and Diesel. The fashion week was for brands to showcase their digital fashion items and non-fungible tokens (NFTs). The Metaverse fashion show operated in a similar way to regular fashion weeks.
Roblox Corporation (NYSE:RBLX), primarily a gaming platform, facilitates the creation of decentralized virtual worlds. Users can interact with each other and trade NFTs. Gucci has a dedicated Gucci Garden in the Roblox Corporation (NYSE:RBLX) universe. Players can trade special Gucci NFTs in this metaverse. Similarly, Nikeland in the Roblox Metraverse enables users to dress their avatars in Nike Inc (NYSE:NKE) products.
Metaverse has gained massive popularity over the past few years. The rebranding of Facebook as Meta Platforms, Inc. (NASDAQ:META) contributed greatly to this popularity. Metaverse is an online space where instead of being a passive viewer the user is an active part of the virtual reality. Meta Platforms, Inc. (NASDAQ:META) is investing heavily in mixed reality technology influencing how users interact with tech today. On June 1, the company announced that it will be releasing its new VR headset, Meta Quest 3, this year. The headset would enable users to perform a variety of activities including access to various immersive worlds.
Many companies are entering the mixed reality space, including the iPhone maker Apple Inc (NASDAQ:AAPL). On June 5, Apple Inc (NASDAQ:AAPL) introduced its spatial computing headset, Apple Vision Pro. The headset enables users to interact seamlessly with virtual objects in augmented reality. Apple Inc (NASDAQ:AAPL) also launched an AI-assisted avatar creator tool enabling users to create photorealistic avatars. The avatars resemble closely to the users and can even match their body types. Users can browse their favorite designer items and try them on their avatars before buying.
We have made a list of the biggest Web3.0 companies in the world which include big tech companies such as Meta Platforms, Inc. (NASDAQ:META), Microsoft Corporation (NASDAQ:MSFT), and Alphabet Inc. (NASDAQ:GOOGL).
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Our Methodology
To make our list of the 25 biggest Web3.0 companies in the world, we initially made a list of prominent companies in the Web3.0 arena. Since Web3.0 is more of a concept and vision than a distinct product, we have considered companies that either work on it directly or develop technologies essential to Web3.0. Based on this premise, we formed our initial list from the holdings of BWEB Holdings. To quantify a company as ‘big’ we have used their market cap as our metric. We have ranked the companies in ascending order from the smallest market cap to the largest.
25 Biggest Web3.0 Companies In The World
25. Cipher Mining Inc (NASDAQ:CIFR)
Market Cap: $755.378 Million
Cipher Mining Inc (NASDAQ:CIFR) mines many cryptocurrencies including Bitcoin. It provides computing power that facilitates users to access Web3.0 applications and protocols. Cipher Mining Inc (NASDAQ:CIFR) also provides hosting services to Web3.0 miners allowing them to operate their mining rigs.
24. Galaxy Digital Holdings Ltd (OTCMKTS:BRPHF)
Market Cap: $1.64 Billion
Galaxy Digital Holdings Ltd (OTCMKTS:BRPHF) is a financial company specializing in digital assets and blockchain technology. Galaxy Digital Holdings Ltd (OTCMKTS:BRPHF) provides various services and products facilitating trade and management of digital assets and cryptocurrencies. Galaxy Ventures, a venture capital arm of the company, invests in Web3.0 startups and companies.
23. Riot Platforms Inc (NASDAQ:RIOT)
Market Cap: $2.046 Billion
Riot Platforms Inc (NASDAQ:RIOT) is a bitcoin mining company that supports the bitcoin blockchain through rapidly expanding large-scale mining. Cryptocurrencies are one of the most significant elements in Web3.0. Riot Platforms Inc (NASDAQ:RIOT) has North America’s single largest Bitcoin mining and hosting facility.
22. Marathon Digital Holdings Inc (NASDAQ:MARA)
Market Cap: $2.091 Billion
Marathon Digital Holdings Inc (NASDAQ:MARA) is one of the biggest Web3.0 companies in the world. Marathon Digital Holdings Inc (NASDAQ:MARA) is rapidly developing crypto mining technology, an essential technology for Web3.0.
21. GameStop Corp (NYSE:GME)
Market Cap: $5.614 Billion
GameStop Corp (NYSE:GME) is a significant player in the Web3.0 marketplace. The company is renowned for its Web3.0 games, including Overworld, Undead Blocks, and Kiraverse. ImmutableX is a leading layer 2 Ethereum scaling solution that is now available on the GameStop NFT marketplace. ImmutableX by GameStop Corp (NYSE:GME) is used to build Web3.0 games and facilitate NFT trading.
20. Robinhood Markets (NASDAQ:HOOD)
Market Cap: $10.125 Billion
Robinhood Markets (NASDAQ:HOOD) has emerged as one of the biggest Web3.0 companies in the world. Robinhood Wallet enables users to access Web3.0 to store and manage their cryptocurrencies on various networks. Robinhood Markets (NASDAQ:HOOD) gives users complete control over their crypto by giving them private keys linked to their assets. Robinhood Connect, another feature by the company, enables users to fund their Web3.0 wallets.
19. Unity Software Inc (NYSE:U)
Market Cap: $14.222 Billion
Unity Software Inc (NYSE:U) provides developers with the resources to connect with Web3.0 gaming. Unity Asset Store by Unity Software Inc (NYSE:U) is a decentralization storefront that facilitates developers to build in various blockchain technologies.
Meta Platforms, Inc. (NASDAQ:META), Microsoft Corporation (NASDAQ:MSFT), and Alphabet Inc. (NASDAQ:GOOGL) are some of the prominent companies leading in the Web3.0 industry.
18. Akamai Technologies Inc (NASDAQ:AKAM)
Market Cap: $15.983 Billion
Akamai Technologies Inc (NASDAQ:AKAM) is one of the biggest Web3.0 companies in the world. The company aims to create the world’s most distributed platforms. Akamai Technologies Inc (NASDAQ:AKAM) acquired Linode, a company providing developer-friendly cloud computing services, in March 2022. In the outlook of the Linode Acquisition, the company stated that their edge computing platform would facilitate developers worldwide to create and run applications in Web3.0.
17. Roblox Corporation (NYSE:RBLX)
Market Cap: $17.541 Billion
Roblox Corporation (NYSE:RBLX) is one of the most significant metaverse platforms. It enables developers to create their games. Roblox Corporation (NYSE:RBLX) facilitates developing ‘limited items’, similar to NFTs, that are traded in Roblox marketplaces. The development of trading platforms and decentralized metaverse are pertinent to the growth of Web3.0.
16. Coinbase Global Inc (NASDAQ:COIN)
Market Cap: $18.497 Billion
Coinbase Global Inc (NASDAQ:COIN) is among the list of the biggest Web3.0 companies in the world. Coinbase Global Inc (NASDAQ:COIN) enables users to access decentralized apps (dApps) through its mobile app. Coinbase Wallets is the ‘key to Web3.0’ that allows users to trade NFTs and earn with decentralized finance (DeFi).
15. Cloudflare Inc (NYSE:NET)
Market Cap: $21.387 Billion
Cloudflare Inc (NYSE:NET) has many products and services that enable users to create and access Web3.0 services. Cloudflare Web3.0, an important Web3.0 product by Cloudflare Inc (NYSE:NET), facilitates users to develop Web3.0 applications without worrying about running infrastructure. The company also provides a variety of Web3.0 gateways, providing users with easy access to Web3.0 networks.
14. Take-Two Interactive Software Inc (NASDAQ:TTWO)
Market Cap: $24.087 Billion
Take-Two Interactive Software Inc (NASDAQ:TTWO) is one of the most significant names in the gaming industry with popular games like Grand Theft Auto and Red Dead Redemption. Take-Two Interactive Software Inc (NASDAQ:TTWO) sees Web3.0 as a significant business opportunity, as displayed by its acquisition of Zynga in May 2022. Zynga is a giant in the mobile gaming industry and is making progress in the web3 gaming industry with its new web3 game, Sugartown.
13. Electronic Arts Inc (NASDAQ:EA)
Market Cap: $32.656 Billion
Electronic Arts Inc (NASDAQ:EA) is a giant in the gaming industry. The company is ambitious about Web3.0 technology and is working to develop Web3.0 gaming further. Electronic Arts Inc (NASDAQ:EA) partnered with Nike (NYSE:NKE) on Swoosh, a Web3.0 platform enabling users to create and buy unique sneaker designs.
12. Block Inc (NYSE:SQ)
Market Cap: $35.488 Billion
Block Inc (NYSE:SQ) is one of the biggest Web3.0 companies in the world. The company is investing heavily in the development of Web3.0. Spiral, a subsidiary of Block Inc (NYSE:SQ), focuses on building Web3.0 products and services. The company also has a cash app that has integrated support for Bitcoin.
11. Equinix Inc (NASDAQ:EQIX)
Market Cap: $72.749 Billion
Equinix Inc (NASDAQ:EQIX) is developing essential technologies fundamental to Web3.0. Equinix Fabric, a platform by Equinix Inc (NASDAQ:EQIX), enables businesses to connect to the cloud directly, privately, and securely. This platform is significant for businesses developing Web3.0 applications. Equinix SmartKey, another product by the company, facilitates businesses by providing them with a secure way to store and manage their cryptographic keys.
10. Shopify Inc (NYSE:SHOP)
Market Cap: $85.574 Billion
Shopify Inc (NYSE:SHOP) is a cloud-based commerce platform. Shopify Inc (NYSE:SHOP) is developing interesting technologies significant to the growth and development of Web3.0. Shopify Payments enables merchants to accept cryptocurrencies for their products and services. Shopify App Store facilitates the integration of Web3.0 tech into the storefront, enabling them to trade NFTs and accept payment in cryptocurrencies.
9. Nike Inc (NYSE:NKE)
Market Cap: $38.293M Billion
Nike Inc (NYSE:NKE) is one the first major companies that have embraced Web3.0 and is employing it to its benefit. Swoosh, a Web3.0 platform by Nike Inc (NYSE:NKE), has exclusive membership, enabling users to create unique virtual sneakers and trade them as digital assets. The company is using the Web3.0 platform to boost quality customer service.
8. Cisco Systems Inc (NASDAQ:CSCO)
Market Cap: $235.701 Billion
Cisco Systems Inc (NASDAQ:CSCO) is one of the biggest companies in the Web3.0 space. The company provides various products and services that facilitate the development of Web3.0 technologies. Cisco Intersight, a cloud-based management platform by Cisco Systems Inc (NASDAQ:CSCO), has various features designed to help businesses manage their Web3.0 infrastructure, including blockchains.
7. Adobe Inc (NASDAQ:ADBE)
Market Cap: $256.711 Billion
Adobe Inc (NASDAQ:ADBE) is a giant in the creative industry, providing software like Adobe Photoshop and Illustrator. The company develops and distributes Web3.0 content and experience. Adobe Inc (NASDAQ:ADBE) Creative Cloud Express enables users to design and distribute Web3.0 content, including NFTs.
6. Tencent Holdings Limited (OTCMKTS:TCEHY)
Market Cap: $403.231 Billion
Tencent Holdings Limited (OTCMKTS:TCEHY) is one of the biggest Web3.0 companies in the world. The company provides support and tools vital to developing Web3.0 applications and services. Tencent Cloud offers various blockchain API services businesses can use to build their Web3.0 applications. Tencent Holdings Limited (OTCMKTS:TCEHY) provides Web3.0 businesses with solutions, facilitating them to build secure and scalable products.
Meta Platforms, Inc. (NASDAQ:META), Microsoft Corporation (NASDAQ:MSFT), and Alphabet Inc. (NASDAQ:GOOGL). are some of the most prominent companies developing and delivering Web3.0 products.
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Disclosure: None. 25 Biggest Web3.0 Companies In The World was originally published on Insider Monkey.