Making people adapt to something is never an easy thing to do.
In this technological evolution of web2 into web3, it’s still perceived as a skeptical move by many.
But some initiatives carved their ways out and accomplished things in such a way that unknowingly millions of users became part of the revolution
This has set an example for all the aspiring builders out there.
In this article, we are going to take a look at 10 such foundational organizations across the ecosystem that have shaped the web3 world and are serving as an inspiration for budding web3 entrepreneurs.
We have picked these organizations based on the impact they have created on the ecosystem and their popularity amongst the users.
We will also take a look at what we can learn from their workings.
1. Coinbase
They are literally building the crypto economy!
Launched in 2012, Coinbase is a cryptocurrency exchange platform that was Co-Founded by Brian Armstrong.
The major contribution they were able to make to the web3 ecosystem was that they brought cryptocurrencies to the main street.
What’s different about them is that, unlike other crypto-based organizations, Brian Armstrong welcomed the regulations & regulators for crypto instead of taking an anti-government stance.
They also went public in April 2021 without selling any new shares just to embrace regulators & the public, making Coinbase more transparent than ever.
Impact Coinbase Has on the Web3 Ecosystem
As of now, they have 103 million+ (verified) users.
They are present in 100+ countries.
They are present with 14,500 institutions & 2,45,000 ecosystem partners.
What Can We Learn From Them?
How they are trying to make cryptocurrency mainstream.
Why they are key to introducing new users to the web3 space.
2. MakerDAO
They are on a mission to create & maintain a stable and frictionless decentralized currency.
Launched in 2014, MakerDAO is a decentralized credit facility co-founded by Rune Christensen.
It is an Ethereum-based central banking protocol that enables the lending & borrowing of crypto assets through Dai (its collateralized stablecoin).
In short, it’s a decentralized global reserve bank.
It was the Maker community (along with DigiXDAO) back in 2016 that showed huge support for Ethereum Network. They were an early advocate of Ethereum before it was split.
Also, did you know that Maker Protocol was the first ever major dapp that was formally tested & verified for its reliability in September 2018 using mathematical modeling?
This increased its transparency & the community’s confidence in the technology.
Impact MakerDAO Has on the Web3 Ecosystem
DAI is one of the most functional cryptocurrencies in the crypto ecosystem.
There are almost 6.80 billion DAI in circulation.
They have made 400+ Integrations.
What Can We Learn From Them?
How a decentralized stablecoin opens up opportunities for everyone.
How a stablecoin can bring in the freedom of utility in the web3 world.
3. Ledger
With a mission of providing security to digital assets all over the world, Ledger was launched in 2014.
It is led by Pascal Gauthier who is currently serving as a Chairman & CEO of this foundational organization.
They initially started with the idea of building a secured chip that would safeguard digital assets for crypto enthusiasts, but then as they took shape, they evolved into a full-fledged security platform.
Though currently, they are providing a secured gateway to crypto & NFTs, they are planning to step their foot into securing a variety of digital assets such as virtual real estate, Metaverse avatars, digital currencies, etc.
Impact Ledger Has on the Web3 Ecosystem
To date, they have sold 1 million+ units all over the world.
It is present in 165 countries.
What Can We Learn From Them?
How they were able to provide security to new types of (digital) assets.
How a security feature can be used to encourage more people to embrace this new ecosystem.
4. Ethereum
Ethereum revolutionized the web3 space in a true sense.
Launched in 2014, it is a Layer 1 blockchain network and a community initiated by Vitalik Buterin (Founder & Inventor, Ethereum).
They created an infrastructure that was more than just a currency and had an actual utility.
Ethereum’s mission is to create decentralized protocols & tools that will empower web3 developers to build decentralized apps for various use cases.
What’s interesting about Ethereum is though you can only mine 18 million Ether or ETH (Ethereum currency) in a year, there is no limitation or restriction on its market capitalization. Yes, Ethereum is limitless!
While other crypto coins may have celebrities or media personalities flaunting about owning them, Ethereum has solid top-level tech companies like Microsoft, HSBC & Barclays utilizing them in their systems.
Recently Ethereum’s main net & executable Beacon Chain merged which made Ethereum transition into the Proof-of-Stake model from the Proof-of-Work model.
It was a historic moment that was famously known as the Ethereum Merge.
This now makes Ethereum more secure, and scalable and has the least impact on the environment.
Impact Ethereum Has on the Web3 Ecosystem
Ethereum still holds the majority share (77% as of Nov 2021) of the total value locked in the top 5 smart contracts. It hosts the majority of ICOs in the cryptocurrency world.
3.4 million+ Ethereum addresses interact with DeFi protocols.
Thousands of dapps, stablecoins, NFTs, etc. from various backgrounds like finance, gaming, art, etc. are functional due to Ethereum.
What Can We Learn From Them?
How web3 can be used to create an impact on the real world.
How they empowered developers to build for the utility.
5. ConsenSys
They’re here to set up a foundation of software that’ll help the web3 ecosystem to thrive.
Launched in 2015, ConsenSys is a blockchain technology company that was founded by Joseph Lubin (who’s also a Co-Founder of Ethereum).
They have played a crucial role in shaping up and evolving Decentralized Finance (DeFi).
They are no more than a powerhouse of the blockchain industry.
ConsenSys closely works with tech organizations, central banks, and even governments to create scalable blockchain solutions at the enterprise level for a lot of real-world applications.
Their one of the most popular products includes MetaMask which is a web3 wallet in the form of a browser extension. It’s an ultimate gateway to DeFi that gives its users full control over their private keys.
Impact ConsenSys Has on the Web3 Ecosystem
MetaMask (by ConsenSys) has 30 million+ users all over the world.
They have a suite of 6 products that are most widely used in the web3 / blockchain ecosystem.
They’ve incubated more than 50 projects to date.
What Can We Learn From Them?
How they empowered developers & enterprises with their product suite to effortlessly tap into the decentralized future and build on Ethereum.
How they’re making newer economic systems open, efficient, and secure.
6. Gitcoin
They want to create the digital public infrastructure of tomorrow!
Launched in 2017, Gitcoin is a community of builders, creators, and protocols that was founded by Kevin Owocki and Scott Moore.
They are on a mission to fund digital public goods and foster open source code, open data & open governance.
They promote building open web3 technologies that will help accomplish the goals of shared ownership and collaborative determination.
Gitcoin assists the communities of builders to build for the open web through their grants and funding programs.
Impact Gitcoin Has on the Web3 Ecosystem
Gitcoin to date has done 2.9 million+ transactions.
They have done almost $66.7 million in value transfer.
They have enabled approx. 11,258 earners.
What Can We Learn From Them?
How an open source internet is built & becomes functional.
How they encouraged collaboration & empowered a decentralized economy.
How your own web3 project can get funded using their platform.
7. OpenSEA
One of the most famous peer-to-peer marketplaces out there!
Launched in 2017, OpenSEA is an NFT Marketplace that was co-founded by Devin Finzer.
They have become one of the most accessible marketplaces for buyers, sellers, and creators in the web3 ecosystem.
They are on a mission to build cutting-edge tools that’ll enable consumers to trade, creators to launch, and developers to build their digital works & items effortlessly using rich and integrated marketplace options.
And guess what? They’re pretty much getting successful at it.
According to OpenSEA’s internal analytics data, they once reported having almost 62,105,769 users visiting their website in a month. This puts them in 649th rank in the list of most visited websites in the world.
Unlike other niche-specific crypto entities, OpenSEA is an all-inclusive marketplace that offers a platform for digital items of almost any type of category.
You’ll be able to buy, sell or create digital goods that consist of gaming items, sports collectibles, music, art, or anything that can be called a digital good.
Impact OpenSEA Has on the Web3 Ecosystem
Around 80 million+ NFTs have been created, bought, or sold on this platform.
They have seen a volume worth $20 billion+ in transactions to date.
What Can We Learn From Them?
How one of the largest decentralized marketplaces was built.
How transactions of user-owned digital items were enabled.
8. A16Z Crypto
The single most influential entity that is shaping the web3 ecosystem!
Launched in 2018, A16Z Crypto is a venture capital fund organization founded by Chris Dixon that invests in crypto and web3 startups.
They have a portfolio of diverse companies that they like to define as ‘ground-breaking’ startups.
What areas in web3 are they contributing to?
They’re actively investing in - Web3 games, DeFi, decentralized social media, self-sovereign identity, layer 1 and layer 2 infrastructure, bridges, DAOs, NFT communities, creator monetization, and many other areas.
They have a fantastic team of engineering, security, legal, regulatory, educational, and go-to-market experts.
They also have set up their own research organization and recruiting services to enable growth for web3 startups.
Impact A16ZCrypto Has on the Web3 Ecosystem
They have funded more than 85 startups to date.
They have raised more than $7.6 billion of funds.
What Can We Learn From Them?
How they’re imagining the digital infrastructure of tomorrow.
How they’re backing the bold entrepreneurs who are engineering the internet of the future.
9. Uniswap
These guys are on a mission to unlock universal ownership and make an exchange accessible for all.
Launched in 2018, Uniswap is a decentralized crypto trading pool founded & invented by Hayden Adams.
It is an automated Ethereum-based crypto exchange that has its own governance token called UNI. It is a truly decentralized exchange that has revolutionized the transaction system in web3 in a true sense.
It is also completely open source. This means that almost anyone can use their code to build their own decentralized exchange.
Unlike other exchanges that charge a heavy fee to list new coins, Uniswap allows users to do that completely free.
This is a notable difference that sets Uniswap apart from other exchanges.
Impact Uniswap Has on the Web3 Ecosystem
They have had $1.1 trillion+ in Trade Volume
110 million+ in All-Time Trades
300+ Integrations
And, 4,400+ Community Delegates to date.
What Can We Learn From Them?
How a fully automated, open, and truly decentralized exchange looks like.
How one can revolutionize the transactions of tomorrow.
10. Dapper Labs
They are on a mission to take blockchain technology to real-world, real people.
Launched in 2018, Dapper Labs is an NFT company that was founded by Roham Gharegozlou.
They believe in keeping their UX free from jargon or complex web3 terminologies. They do this for making their product more user-friendly for the common consumers.
Dapper Labs was named among one of the top 50 most innovative companies in the world.
They have 7 products in the market to date, namely - NBA TopShot, AllDay, UFC Strike, Dapper, Laliga, Crypto Kitties, and Cheeze Wizards.
Their CryptoKitties, a blockchain-based game about cats, and NBA TopShot, an NBA highlights collectible trading cards platform are one of the most popular NFT markets.
Impact Dapper Labs Has on the Web3 Ecosystem
Their FastCompany was named the no. 1 gaming company in the world.
They have 1.5 million+ users, $15 million+ in sales, and $1 billion transactions for their product - NBA TopShot.
Dapper (for Metaverse) has 2 million+ users & had 20 million+ transactions till date. They also have a value worth $1 billion+.
What Can We Learn From Them?
Their innovative & simplistic perspective toward tech-heavy web3 products.
How they worked to make blockchain technology reach real people.
Launch Your Web3 Project
Fantastic organizations! A lot to learn from them.
But what if you have an idea for a web3 project and want to launch it in the right direction?
Or you are already working on one but are confused about how to take it ahead for success.
How would YOU make it in the next top 10 web3 organizations?
For that, you need someone who has been there, done that - to hold your hand and guide you in the right direction.
We have opened up this opportunity for you with our FREE 3-week IVL & 1-day IRL web3 incubation program - 0xCamp.
Do consider applying if you want to receive guidance directly from the leaders of the space.
No cookie-cutter approach, but context-based guidance that’s specific to your startup.
So what do you think about the list?
Do you think we missed any? Let us know if you want us to add some more organizations by emailing us at - we@foundershiphq.com.
