Follow Web3 news and funding trends with our daily updated dashboard on startups and investment in the Web3, crypto and blockchain sectors, based on Crunchbase’s comprehensive data.
Last updated: 11/07/2025
Eleven companies joined The Crunchbase Unicorn Board in April 2024 — a big jump up from the six companies that joined in April 2023 but still a fraction of the 40 added to the board in April 2022.
![Illustration of an IPO hot pot [Dom Guzman]](https://news.crunchbase.com/wp-content/uploads/IPO-heating-up-640x360.jpg)
The Web3 Tracker is a one-stop shop for following Web3 trends, news and data about venture funding and leading investors in the sector.
Web3 refers to the next evolution of the internet primarily built on blockchain technology. While the concept has been around for just under a decade and didn’t enter mainstream usage until a few years ago, the Web3 sector has attracted more than $100 billion in investment, Crunchbase data shows.
Web3: A brief history
Whereas Web 1.0 represents the early days of the internet and its static, heavy content-related nature, Web 2.0 was the maturation of that into a more user-generated network that brought about more utility, sharing and interactivity.
Web3 could be the most significant step yet. The term was coined by Ethereum co-founder Gavin Wood in 2014 and refers to moving the internet toward decentralized technologies with the promise of increased transparency and accessibility. Proponents say the shift toward Web3 will make the internet open to more innovative technologies and shift power away from large tech companies.
Web3 is an umbrella term used to describe a new iteration of the Internet that’s primarily built on blockchain technology.
While the Internet of today—or Web2—primarily focuses on user generated content, social networking and cloud computing, Web3’s core focus is on decentralization, transparency and accessibility. The technology ushering in this new era was created in response to the centralized nature of the Internet and the perception that a handful of large corporations control what is and isn’t allowed on the web. Web3 proponents say it puts the power back into the hands of users and creates a more open, transparent and accessible Internet ecosystem.
A few examples of Web3 companies in the U.S. include Alchemy, a developer platform that helps companies build reliable decentralized applications; Polygon, a platform for Ethereum scaling and infrastructure development; and Chainlink, a startup that’s focused on making it easier for traditional data sources, such as APIs, to connect with blockchain technology.
The top three Web3 startups by total funding are Block.one, with $4.1 billion raised; Bitstocks Trading Limited, with £1.5 billion ($1.8 billion) raised; and FTX Exchange, with $1.7 billion raised.
The top three startups in the Web3 ecosystem with the highest valuations are FTX Exchange, valued at $32 billion; Blockchain.com, valued at $14 billion; and OpenSea, valued at $13.3 billion.
While Web3 isn’t a technology, there have been innovations created based on what the concept represents: a decentralized internet. An NFT, or non-fungible token, is an example of one such innovation. NFTs allow individuals to claim ownership over digital art and other assets. For example, if you’re an artist, you can turn an art piece into an NFT and sell it on a marketplace like OpenSea. To purchase the NFT, an individual might pay you 5 Ether for ownership rights. Your newly acquired Ether coins could then increase (or decrease) in value based on demand and market conditions.
A cryptocurrency is a digital currency that’s tradeable and uses cryptography to secure transactions. To create more transparency, these transactions are primarily stored on the blockchain, making them completely traceable.
There are a wide variety of cryptocurrencies, each with its own use case. For example, Bitcoin is considered a store of value. Stellar Lumens (also known as XLM), the token created by the Stellar Development Foundation, was created to help individuals transfer money quickly. These cryptocurrencies, and many like them, can be used for things like investing and making purchases.
Note: please do your research before investing in any cryptocurrency or digital asset.
No. Web3 is the name used to describe the innovations that blockchain technology has given rise to. Cryptocurrency is the digital currency used within the blockchain ecosystem.
To understand how Web3 works, first you need to know the basics of blockchain technology. The blockchain is a distributed database, or ledger, that’s not owned by any one entity (decentralization). It stores information, such as cryptocurrency transactions, in a digital format that can’t be edited or deleted (transparency). This information is stored in a “block” that connects to other blocks when it reaches storage capacity limits, creating a chain. Hence the name blockchain.
With the transparent and decentralized nature of the blockchain, developers are now building a new wave of innovative applications that leverage this technology; what is now known as Web3.
Yes. Our Web3 Tracker is a public resource. We do ask that you please cite Crunchbase as the data source and include a link to the Web3 Tracker when possible. For additional press inquiries, email press@crunchbase.com.
Please reach out to support@crunchbase.com if your company’s data needs to be updated or if something is missing.
All of our Web3 news and trends coverage is here.
Ripple
$40B
Ripple provides one frictionless experience to send money globally using the power of blockchain. It offers a global real-time payment system that enables banks and financial institutions around the world to directly transact with each other without the need for a central correspondent. The company also offers FX Market Making, a solution enabling enterprises to gain access to cross-currency liquidity through a distributed network that allows foreign exchange to be externally sourced from a competitive FX marketplace or an internal FX trading desk. This minimizes FX exposure thereby lowering the volatility and counter-party risk of trades. Ripple Insights features industry updates, insider perspectives, and in-depth market analysis.
San Francisco, United States, North America
Number of Acquisitions 8
Total Funding Amount $794M
Kraken
$15B
Kraken is a digital asset exchange and related services provider that enables users to buy, sell, trade, stake, and store cryptocurrencies. It offers spot trading, futures, margin trading, indexes, over-the-counter (OTC) execution, and a multi-chain wallet. Kraken supports a large number of cryptocurrencies and fiat currency pairs, and it provides tools for both retail users and institutional clients. It also offers advanced order types, real-time market data, account management services, and resources for learning about blockchain and digital assets.
San Francisco, United States, North America
Number of Acquisitions 18
Total Funding Amount $521M
Tempo
$5B
Tempo is a Layer-1 blockchain specifically designed for payments incubated by Stripe and Paradigm.
San Francisco, United States, North America
Number of Acquisitions 0
Total Funding Amount $500M
Chainalysis
$3B
Chainalysis designs and develops anti-money laundering software for Bitcoin businesses. Its products include REACTOR, an interactive investigation tool that identifies offenders, visualizes data, and shares results with people and organizations, and API, a transaction-based risk scoring solution that contains the source and destination of funds to measure risk. Chainalysis also offers activity monitoring reports and diligence tools, which allow analysts to estimate criminal revenues and emerging threats. It offers activity monitoring reports, due diligence tools, and cyber threats from the deep web for financial institutions, real-time application programming interface (API), web-based investigation software for due diligence, and verification of customers for bitcoin business, and web-based investigation tools to identify cyber-criminals, identification of bitcoin extortion payments made by victims to criminals, and attribution for cyber threat intelligence industries.
New York, United States, North America
Number of Acquisitions 5
Total Funding Amount $537M
CoinDCX
$2B
CoinDCX is a company that specializes in crypto-enabled financial services. The company focuses on developing borderless financial services that ensure a simpler and uninterrupted flow of capital. Its liquidity, powerful wallet, and impenetrable security make the trading experience fast, reliable, and effortless. CoinDCX has empowered its traders with a bouquet of industry-first products to trade using liquidity from exchanges. The products are designed for all types of traders keeping their trading experience, risk tolerance, and trading frequency into consideration. The company aims to democratize finance and make investments accessible to everyone. CoinDCX was founded in 2018 and is headquartered in Mumbai, Maharashtra, India.
Mumbai, India, Asia
Number of Acquisitions 1
Total Funding Amount $247M
Ripple
$40B
Ripple provides one frictionless experience to send money globally using the power of blockchain. It offers a global real-time payment system that enables banks and financial institutions around the world to directly transact with each other without the need for a central correspondent. The company also offers FX Market Making, a solution enabling enterprises to gain access to cross-currency liquidity through a distributed network that allows foreign exchange to be externally sourced from a competitive FX marketplace or an internal FX trading desk. This minimizes FX exposure thereby lowering the volatility and counter-party risk of trades. Ripple Insights features industry updates, insider perspectives, and in-depth market analysis.
San Francisco, United States, North America
Number of Acquisitions 8
Total Funding Amount $794M
Kraken
$15B
Kraken is a digital asset exchange and related services provider that enables users to buy, sell, trade, stake, and store cryptocurrencies. It offers spot trading, futures, margin trading, indexes, over-the-counter (OTC) execution, and a multi-chain wallet. Kraken supports a large number of cryptocurrencies and fiat currency pairs, and it provides tools for both retail users and institutional clients. It also offers advanced order types, real-time market data, account management services, and resources for learning about blockchain and digital assets.
San Francisco, United States, North America
Number of Acquisitions 18
Total Funding Amount $521M
Discord
$15B
Discord operates as a voice, video, and text communication service to talk and hang out with friends and communities. It was originally created for people who loved to play games, but these passionate people realized it could be enjoyed for more purposes. Discord is now used by everyone from local hiking clubs, to art communities, to study groups.
San Francisco, United States, North America
Number of Acquisitions 3
Total Funding Amount $983M
OpenSea
$13B
OpenSea is a peer-to-peer marketplace for crypto collectibles and non-fungible tokens. It includes collectibles, gaming items, and other virtual goods backed by a blockchain. On OpenSea, anyone can buy or sell these items through a smart contract.
New York, United States, North America
Number of Acquisitions 4
Total Funding Amount $427M
Labs
$13B
Labs Companies, Inc. (branded and doing business as Labs) is an American global human-enhancement technology company headquartered in Santa Monica, CA. Established in 2025 through a restructuring of LavLabs Inc., Labs now serves as the parent holding company of LavLabs, itself apart of seven core family of labs: Labs Intelligence, Labs Realities, Labs Blocks, Labs Crypto, LabsX, Factory5227 and several specialized multi-labs. Each lab is dedicated to advancing human capabilities through transformative products, services, platforms, and technologies (PSPTs) in AI, digital economies, immersive realities, consumer internet, wearables and social experiences. The Labs Manifesto: Humanizing every moment on the internet. Our name “Labs” celebrates the field of Chemistry, and our test-tube emblem, Chemí (/kim-me/), reflects our commitment to innovation. At Labs, our mission is to inspire creativity with innovative-ideas that help build communities and advance human capabilities. We believe that every human on the planet could thrive greatly with equal access and opportunity to technology. Through our flagship, franchise, framework and fandom, family of brands, we create transformative human-experiences that connect humanity through creativity, community, and innovation. Our ecosystems and economies spans across a core and specialized family of labs, including Labs Financial Group (managing Labs Payments, Yuhmmy Wallet and financial solutions within the FinTaste ecosystem), Labs Investor Group (managing early-stage, growth-stage, CVC, fund-of-funds, hedge fund, mutual fund, ETF, index fund and pension fund investments through Labs Ventures, Labs Capital, Labs Investments, Labs Funds, Labs Equity and Labs Shares), Labs Realty Group (managing YuhmmyHouse, a Social-Taste Super Club and the Tastespitality Ecosystem), Labs Start Studios (Hatch Studio, Launch Studio, and Lift Studio for entrepreneurial enhancements), Labs Learn Studios (Labs University, Labs Academy, and Labs Institute for educational enhancements), Labs Entertainment (managing Yuhmmyevents and its annual Yuhmmylicious Week and CraveCon), Labs Media (managing the official podcast by Labs: TechTubeTalks, and Yuhmmy: TastefulTalks). Our inaugural family of brand is Yuhmmy, the world’s first Social-Taste Super Brand and ecosystem designed for discovering, experiencing, and sharing anything tasty. Its Yuhmmy App brings people together to explore food, drinks, sweets, snacks, and recreational flavors in fun, funny, and flavorfully engaging ways. Featuring innovative tools like Tastechat, Taste Sports, Taste Drops, Cravecash, YuhmmyAI, and Yuhmmy AR/VR, Yuhmmy empowers a revolutionary “Tasteconomy” driven by Taste Intelligence. Labs is committed to reshaping the future of human-enhancements, seamlessly merging digital and physical worlds to redefine engagement, empowerment, education and earning. Our Labs Foundations supports sustainability, S.T.E.A.M. education, and scholarships for underserved communities through 5227.org and Lifthumankind.org, committing 1% of proceeds and resources via pledge 1%.
Santa Monica, United States, North America
Number of Acquisitions 0
Total Funding Amount $28M
Ripple
$40B
Ripple provides one frictionless experience to send money globally using the power of blockchain. It offers a global real-time payment system that enables banks and financial institutions around the world to directly transact with each other without the need for a central correspondent. The company also offers FX Market Making, a solution enabling enterprises to gain access to cross-currency liquidity through a distributed network that allows foreign exchange to be externally sourced from a competitive FX marketplace or an internal FX trading desk. This minimizes FX exposure thereby lowering the volatility and counter-party risk of trades. Ripple Insights features industry updates, insider perspectives, and in-depth market analysis.
San Francisco, United States, North America
Number of Acquisitions 8
Total Funding Amount $794M
Sorbet
$2M
Sorbet is a web3 workflow tool for creative freelancers. We are leveraging NEAR and Circle’s USDC to offer a zero-freelancer-fee, secure milestone-based escrow system, streamlining project management, and payment processes while fostering a fair and transparent freelance economy in the MENA region.
Abu Dhabi, United Arab Emirates, Asia
Number of Acquisitions 0
Total Funding Amount $180K
StreamFi
$6M
StreamFi is more than just music streaming; it's a community where artists are empowered, and fans are rewarded. Built on the pillars of Discovery, Ownership, Monetization, and Community, we give artists the tools to control their careers while creating more profound, more meaningful connections with their fans. Whether through direct sales, exclusive content, or transparent revenue sharing, StreamFi is redefining the future of independent music, where creativity thrives, and everyone benefits.
Burbank, United States, North America
Number of Acquisitions 0
Total Funding Amount $0
Superlogic
$200M
Superlogic is the creator of a Non-Fungible Token (NFT) blockchain-based platform for the music industry. The company's platform allows customers to buy NFTs at a low cost or for free, market their businesses as environmentally, socially, and governance friendly, and target conscious music consumers, all while allowing them to use credit or debit cards in fiat currencies, cryptocurrencies, and stablecoins.
Miami, United States, North America
Number of Acquisitions 1
Total Funding Amount $35M
MegaETH
$100M
MegaETH is an operator of a blockchain platform for traditional cloud computing servers. Its features include high transaction throughput, abundant computing capacity, and millisecond-level response times even under heavy load.
Stanford, United States, North America
Number of Acquisitions 0
Total Funding Amount $80M
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