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Since the very first introduction of blockchain, this technology has never stopped. It is still considered one of the legendary creations of an anonymous person Satoshi Nakamoto.
However, it is still a mystery who this Satoshi Nakamoto is. Is he an actual person or a group of people?
The truth is nobody knows the origin of the blockchain and bitcoin.
But, come to think of it, is it really important to know who is behind the blockchain?
No, obviously not. Ask an investor or a full-time crypto trader- for them the only thing that matters is the weekly candlestick charts.
Since the introduction of blockchain technology, the crypto market is on the rise. As per the report from Grand View Research, the blockchain market was at $5.92 billion in 2021 and it is expected to grow at a Compound Annual Growth Rate of 85.9% from 2022 to 2030.
These numbers are quite believable because blockchain technology is extensively used in the digital economy. MNCs like Walmart, IBM, Oracle, and many more are using blockchain technology. Many startups have built around blockchain.
Every year, a new startup launches in the industry with exciting innovations, tech, and industry-dominating business models.
Do you know, there are more than 200 crypto exchanges around the world today?
With the new technologies revolving around Web3, 5G, and IoT, many new ideas of blockchain-based applications have evolved, such as the NFT marketplace, the VR/AR marketplace, and artificial intelligence.
Here are the top blockchain startups of 2024.
Why are we giving out this information?
Well, this blog is for all start-up lovers, investors, blockchain believers, and aspiring entrepreneurs.
NOTE- There are many exciting blockchain technology startups launching and scaling every year. We won’t be able to cover them all. Also, the startups that are listed below are not officially ranked or listed in any particular order.
Intriguing Facts
- According to a survey by Garner, the blockchain market value will be around $176 billion in the year 2025 and it is expected that this number will reach $3.1 trillion by the start of the next decade.
- In the year 2012, there were only 66 blockchain startups and in 2017 this number skyrocketed to 777.
- In the first half of the year 2022, there were 1199 funding rounds that raised $30.3 billion.
- 90% of the US and European banks/ financial institutions have started identifying blockchain technology.
- Blockchain-centric companies like Coinbase, Ripple, Binance, Consensys, and many more are becoming hugely successful.
- Tunisia was the first country to issue blockchain-based national currency in the year 2015. Today, more than 20 countries have actively researched blockchain.
- The first real bitcoin transaction cost 10,000 bitcoin in exchange for two pizzas. Yes! Two pizzas. Laszlo Hanyecz bought two Papa John’s pizzas with 10,000BTC! Got to say, an expensive pizza.
(Seeing these numbers it’s not at all surprising why so many big ventures are backing blockchain startups.)
Top 10 Blockchain Startups
1. Fireblocks
Fireblocks provide blockchain-based security solutions to all institutions. They offer help to clients in managing their treasury operations, digital assets, and decentralized finance. The company was founded in 2018 and is located in New York.
In the 5-years of business, Fireblocks has seen 5400% search growth. Fireblocks has secured $2T in crypto assets for their 1000+ clients.
2. FLUREE
Fluree is an open-source JSON-LD graph database, built with semantic graph technology. It allows users and programmers to make graphs and concept maps with fast search speeds. The company guarantees full data traceability. Its USP is that it has its own semantic standards that set it apart from the other competitors.
The company was launched in 2016. Their flagship products allow users to visualize data in unique ways, keeping it secure.
3. Sorare
On this platform, you will find a blockchain-powered soccer game. If you love soccer and you are a blockchain enthusiast, then this app is for you. Here, users can play fantasy soccer in the platform’s gaming arena.
Moreover, users can use the marketplace to trade digital cards. The company was founded in 2018 in Paris, the capital city of France.
At present, Sorare has officially issued cards for 280 soccer clubs.
4. Meetkai
It is a Los Angeles startup that aims to map out the entire world into a virtual reality app. It records real-world locations to bring them into its application. Meetkai aims to give metaverse users a glimpse into real locations. For this, the company uses an AI model to recognize locations and speech patterns, thus creating an engaging VR.
5. MoonPay
Moonpay is one platform that allows its customers to buy and sell cryptocurrencies, in the same way as other crypto exchange platforms. The company was established in 2018 in Miami. By the year 2021, Moonpay had acquired more than 7 million users.
6. Metaking Studios
MetaKing Studios is an AAA games studio founded in 2017. At present, it is developing Blocklords, a medieval fantasy grand strategy MMO game where the players can own digital assets by winning the game.
The platform is planning to implement DEFI capabilities into the game to add the feature of an in-game economy. This is one unique feature that does not currently exist in the blockchain gaming space.
7. POKO
Poko is one recent startup. The company was established in the year 2022. It started with the idea of setting up DAOs with a legal wrapper. It is also considered “slack” for DAOs.
Basically, it simplifies the complex legal and technical process for all who want to be a part of an existing DAO or want to set up their own.
Moreover, they have reduced the legal setup fee, so DAOs will now be accessible to many more users.
8. Payourse
This company was established in the year 2019. It is one of the many startups from Africa with a sturdy concept, i.e., building tools to set up a crypto exchange.
They created a crypto exchange website known as CoinProdile. It allows anyone to send cryptocurrency to their African recipients.
But their Simpa product is catching more attention. It is a zero-code application and allows tech entrepreneurs to set up crypto exchanges in less time. It’s the need of the African market, and it is the best way to expand their reach on the continent.
9. Just Carbon
Just Crabon is one marketplace that is used to remove carbon, thus making the carbon market transparent. The user can purchase JCR tokens on the Just Crabon blockchain and support environmentally friendly projects.
Here, 1 JCR is equal to the removal of 1 tonne of carbon from the earth. The company offers ways to businesses to help them lower their carbon footprint.
10. Pastel
Pastel is a New York-based blockchain company founded in 2018. This platform allows users to register, trade, and collect digital assets. It is a decentralized peer-to-peer platform with an annual revenue of $1.3 million.
In the past 5 years, they have had 100% search growth.
Want to Create Your Own Blockchain Startup?
Here is an in-depth explanation of how you can create your own blockchain startup in just a few easy steps.
1. Research Will Always be the First Step
I cannot emphasize enough the importance of market research whenever you are starting a new business. Because understanding market trends will help you know how to use blockchain technology for your business. Plus, understand the required use case of the blockchain technology for your platform like crypto transactions, decentralized applications, NFTs, etc.
2. Now Create a Prototype for Your Product
You cannot directly jump into blockchain development. First, you have to validate your blockchain startup idea. It can be done by creating a prototype of your blockchain product.
Here, the prototype will be a blueprint of your business along with the UI of your platform.
3. Decide on the Features
Blockchain can hold multiple features. Now, you have to decide what features you want to include in your blockchain business. For example- smart contracts, payment transactions, immutability, etc.
4. Select a Platform for Your Blockchain Business
There are multiple options available to select from for your business. Some of the more popular blockchain network platforms are Ethereum, Hyperledger, R3 Cords, Ripple, and more.
You can also contact the blockchain app development companies that can help you select the best blockchain platform based on the type of your startup.
5. Find a Right Development Team
By joining hands with the right blockchain development company, you can simplify the process of building your blockchain startup. Build your startup by leveraging backend development, UX/UI designing, marketing, etc.
6. Start the Development
Discuss your project and ideas with the blockchain developers. The developers will start working on the project by deciding the features, APIs, servers, and other relevant backend and frontend requirements, thus making your project fully functional.
7. Create MVP for Your Product
MVP stands for Minimum Viable Product, which contains only the required features in your blockchain product. By creating an MVP, it will be easier for you to test the actual blockchain product on the market.
8. Test/Launch Your Product
Now the only thing left is the testing and launch of your blockchain startup. Testing is important to ensure your product is lag-free. For this, you have to do the testing multiple times.
After the completion of multiple tests, you can launch your blockchain startup.
Here, we have only covered a fraction of these startups. But the aim was to give you a glimpse of what the future holds for the blockchain technology industry.
Contact Extern Labs For Your Blockchain Startup Idea
Outsourcing your blockchain project to expert blockchain developers is the best option that you can use to run your startup.
Extern Labs is a blockchain development company that will assist you in building and launching your blockchain startup. We have a team of blockchain developers, app developers, project managers, designers, and other professionals that will help you build your project from scratch.
Contact Extern Labs today to discuss your blockchain startup idea.
