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: 07/12/2025
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.
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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.
Boba Network
$2B
Boba Network is an EVM-equivalent hybrid computing platform built on an optimistic rollup architecture, helping developers build more feature-rich apps by enabling smart contracts to leverage complex off-chain computations or bring in off-chain data. Boba offers one of the easiest to use blockchain platforms for end-users through their multi-token on-ramp, fast exit, and NFT bridge.
Palo Alto, United States, North America
Number of Acquisitions 0
Total Funding Amount $115M
Zama
$1B
Zama is a cryptography company building open source FHE solutions. Their flagship Zama Protocol enables confidential applications on top of any L1 or L2, unlocking use cases across confidential payments, tokenization, finance and network states.
Zug, Switzerland, Europe
Number of Acquisitions 0
Total Funding Amount $139M
Kraken
$4B
Kraken is a cryptocurrency exchange that provides spot and futures trading between Bitcoin, Ethereum, and 40+ other digital assets. Its mission is to accelerate the adoption of cryptocurrency so that you and the rest of the world can achieve financial freedom and inclusion. Founded in 2011 and with over 7 million clients, Kraken is one of the world's largest, most successful bitcoin exchanges and we're growing faster than ever. Kraken's range of successful products is playing an important role in the mainstream adoption of crypto assets. Kraken is a marketplace for digital assets where buyers, sellers, traders, and speculators come together to exchange cryptocurrencies like Bitcoin, Ethereum, Litecoin, and Ripple against national currencies like USD, EUR, CAD, and JPY. Clients trading larger sizes benefit from its principal Over-the-Counter (OTC) desk and white glove service. Advanced traders and technical analysis wizards can take advantage of the company's professional charting tools. Software engineers, botters, and hobbyist automators have available both REST and Websocket APIs with which trades can be made and market information obtained. Kraken provides 24/7 live chat support for any questions you have about getting started.
San Francisco, United States, North America
Number of Acquisitions 15
Total Funding Amount $421M
The Open Platform
$1B
The Open Platform We are a venture studio focused on building and scaling Web3 startups for mass audiences from the ground up. We partner with exceptional founders, and share our extensive expertise in product development, marketing and design with the goal to reach an escape velocity together.
Dubai, United Arab Emirates, Asia
Number of Acquisitions 0
Total Funding Amount $29M
FalconX
$8B
FalconX is a digital assets prime brokerage that provides trading, financing, and custody services tailored for financial institutions. The company focuses on facilitating access to global liquidity in the cryptocurrency market. FalconX employs data science techniques to enhance trade execution and optimize efficiency for its clients. The platform supports a range of digital asset transactions, enabling institutions to manage their investments effectively. By offering comprehensive solutions in the digital asset space, FalconX meets the needs of institutional clients seeking to navigate the complexities of cryptocurrency trading and management.
San Mateo, United States, North America
Number of Acquisitions 1
Total Funding Amount $474M
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 $979M
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
Dunamu
$12B
Dunamu owns and operates a digital asset exchange (UPbit), two investment exchange platforms (Stockplus and U-Stockplus), and an equity management platform (Onboard). UPbit is a cryptocurrency exchange platform with presence in Korea, Indonesia, Thailand, and Singapore. Stockplus is a securities information/trading platform with an active partnership with 11 broker-dealers. U-Stockplus is an OTC platform providing a trading service for private companies. Onboard helps private companies manage equity electronically for their shareholders.
Seoul, South Korea, Asia
Number of Acquisitions 1
Total Funding Amount $741M
Alchemy
$10B
Alchemy is a web3 developer platform that helps companies to build reliable decentralized applications. Its mission is to provide developers with the fundamental building blocks they need to create the future of technology without the hassle of managing blockchain infrastructure in-house.
San Francisco, United States, North America
Number of Acquisitions 5
Total Funding Amount $564M
Black Banx
$10B
Black Banx is a digital Bank offering real-time account opening and cross-border payments for private and business clients in 28 currencies. The company’s proprietary software, GlobalKYC and IRTP, allows instant account opening and payments. Individuals can also make Bitcoin and ETH deposits to fund checking accounts. The Group is headquartered in Toronto, with offices in London, Hong Kong, Dubai, Sao Paulo et.al.
Toronto, Canada, North America
Number of Acquisitions 0
Total Funding Amount $382M
QbitShield
$15M
QbitShield is a deep tech cybersecurity company pioneering Prime-Based Quantum Key Distribution (PB-QKD) and next-generation encryption systems. Leveraging proprietary quantum wavefunction modulation and prime harmonic logic, QbitShield delivers ultra-secure communication protocols resistant to both quantum and classical attacks. The QbitShield platform includes a fully operational API and Python SDK, enabling developers and enterprises to integrate quantum-safe key generation, prime-modulated cryptography, and entropy-rich quantum signatures into their infrastructure. Backed by multiple provisional patents and validated against classical QKD protocols (BB84, E91), QbitShield introduces the first Prime Operating Framework (POF)—a unifying model that connects number theory, quantum physics, and cybersecurity. QbitShield’s breakthroughs are foundational for national defense, financial systems, cloud security, and quantum computing platforms seeking scalable, deterministic entropy models. The company’s vision is to lead the next era of secure digital infrastructure by transforming prime numbers into a cryptographic superpower.
Dubai, United Arab Emirates, Asia
Number of Acquisitions 0
Total Funding Amount $0
Bakkt
$1B
Bakkt is a trusted digital asset platform that enables consumers, businesses and institutions to buy, sell, store and spend digital assets. Bakkt’s platform, now available through the Bakkt App and to partners, amplifies consumer spending and bolsters loyalty programs, adding value for all key stakeholders within the Bakkt payments and digital assets ecosystem. Launched in 2018, Bakkt is headquartered in Alpharetta, GA.
Alpharetta, United States, North America
Number of Acquisitions 4
Total Funding Amount $858M
AFRIKABAL
$3M
AFRIKABAL is a blockchain-powered infrastructure platform transforming agricultural trade in emerging markets. We enable verified, transparent, and efficient trade by tokenizing commodities, automating payments through smart contracts, and embedding traceability at every stage of the supply chain. With Anhur AI for predictive insights, DAO-governed cooperative treasuries, and verified ESG metrics, AFRIKABAL empowers farmers, buyers, and institutions to transact at scale with trust and efficiency.
Texas, United States, North America
Number of Acquisitions 0
Total Funding Amount $250K
DeFi Development Corporation
$45M
A b2b fintech marketplace connecting commercial property borrowers and lenders through a frictionless portal.
Boca Raton, United States, North America
Number of Acquisitions 1
Total Funding Amount $138M
Engyx Digital Energy
$3M
Engyx Digital Energy is a Web3 infrastructure platform that integrates blockchain with renewable energy to accelerate the global transition to a sustainable future. Our business model is based on the acquisition of solar plants and the tokenization of the energy generated, allowing anyone to participate in the energy economy. With $ENGYX, we democratize access to real-world clean energy projects, removing traditional barriers to investment. Each unit of energy produced can be represented and traded as a digital asset, facilitating a direct connection between producers and consumers.
Number of Acquisitions 0
Total Funding Amount $0
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