10 blockchain startups to watch

While many industries have seen a drop in venture capital investment, the blockchain space has continued to see funding. Blockchain startups have found strength in the rise of NFT use cases alongside the convergence of blockchain and other emerging technologies like 5G, Augmented Reality (AR), Virtual Reality (VR) and digital technology. artificial intelligence (AI).

Gartner predicts that the business value generated by blockchain will increase, reaching $176 billion by 2025 and $3.1 trillion by 2030. Additionally, Grand View Research estimates that the global blockchain technology market blockchain will grow at a rate of 85.9% between 2022 and 2030. As blockchain market capitalization is poised to skyrocket over the next few years, investors continue to pour billions of dollars into startups blockchain and cryptography.

Although the blockchain industry is currently experiencing one of its toughest crypto winter seasons, its promise has not stopped growing. As the metaverse increasingly infiltrates the broader business, investors continue to tap into the endless potentials of blockchain, moving its application far beyond cryptocurrencies, NFTs, and any other singular unit.

A PwC blockchain industry outlook report sees it as a technology enabler with an unparalleled ability to improve business processes across the enterprise while simultaneously lowering the cost of trust. These advances are expected to translate into better return on investment (ROI) for first movers and the businesses they serve.

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Number of blockchain startups by year of creation (2008 - 2018)Source: IPlytics

A report by Statista citing the IPlytic survey revealed that the rate of the proliferation of blockchain startups in the world has maintained an upward momentum. The survey found that while only 66 blockchain startups were founded globally in 2012, the number jumped to 777 in 2017. Another report from Statista places the amount of money blockchain startups raised in the first quarter of 2021 at $2.6 billion worldwide - more than the total amount the industry raised in 2020.

In the midst of a funding surplus, how can...