It’s no secret that the internet has undergone a very fast evolutionary scale in the last three decades. Currently, Internet civilization has entered the Web 3.0 stage. Web 3.0 enables facilities to share information and interact with each other regardless of distance through images, video, and audio in an immersive 3D environment.
At the same time, who doesn’t know about the cryptocurrencies and blockchain systems that fueled the Web 3.0 landscape? The increasingly booming internet generation has attracted interest from companies in the field of technology or other fields to participate in taking opportunities there and make them a web 3.0 company
If you don’t already know, the Web 3.0 market in 2030 is predicted to reach a total value of nearly US$81.5 billion due to the faster development of Web 3.0 services. As a businessman, of course, this is very tempting.
So, what exactly are Web 3.0 Companies? How do they make money from Web 3.0?
Get to know how below and make sure you also can learn the steps taken by the 5 companies that have succeeded in increasing their revenue through Web 3.0.
What are Web 3.0 Companies?
Web 3.0 companies are a new breed of a startup whose way of working has disrupted traditional industries. The way they work is by relying on blockchain technology. However, they are not just beginners, many mature companies have managed to earn billions of dollars with blockchain.
In Web 3.0 companies everything is about making money. They’re not just trying to turn the traditional world into a super-modern world; they, certainly, also tried to get rich. The Internet changed the way we live and do business. Web 3.0 companies are a new trend that has changed the world we have known for a long time.
The question is, how do they get rich by becoming a Web 3.0 company? Simply put, they generate revenue by creating products and selling them to their customers. Let’s discuss more clearly in the next session. Prepare yourself to be rich!
How do Web 3.0 Companies Make Money?
1. Create Your Token
The way Web 3.0 companies get rich is by using blockchain technology to create their tokens, which can be used for various purposes, such as making payments for goods and services on their platforms. Apart from that, they also own tokens which can be used as a store of value or traded on exchanges.
2. Create Decentralized Applications (DApps)
In addition to creating tokens, Web 3.0 companies use blockchain technology to create decentralized applications (DApps). The application has no central control point and cannot be covered by any single entity. DApps allow anyone in the world to contribute and make changes as they see fit. It can also be a source of wealth for Web 3.0 companies.
3. Licensing the Blockchain
Blockchain companies can make money from two main sources, namely by licensing the blockchain to other companies and from virtual currency miners. Many companies license their blockchain to make products that they then sell. They may sell data, software, and charge fees for transactions.
4. Offering Services
Another way Web 3.0 companies make money is by offering consulting services, goods, or information in exchange for cryptocurrency. They can offer services such as developing smart contracts, blockchain consulting as well as ICO (Initial Coin Offering) marketing. For them, it is very important to be flexible and lean to be competitive.
5. Collecting User Data
Web 3.0 companies can also make money by providing services to users for free without the users knowing that it is their data that is the money for the Web 3.0 companies. Like Google and Facebook, their traditional way of being on the internet is charging users for their services and then making money off of it.
The method that you can copy from Web 3.0 companies is the lean startup methodology, which is how Web 3.0 startups work by providing a good example of determining the product to offer to customers without the need to spend money on employees or unnecessary office equipment.
After knowing how web 3.0 companies work, this time we will look at real examples of 3 companies that have managed to make a lot of money through Web 3.0
5 Successful Companies Making Money With Web 3.0
Must be in the first place, Meta, the holding company of Facebook and Instagram announced that through their Metaverse world they will sell digital items and make money there.
The metaverse world in question is Horizon World, a virtual world created by Meta itself. Users will use a full VR set to enter and interact in the Metaverse. This metaverse platform is decentralized and uses Web 3.0. There Meta began to mine gold.
To CNBC, a spokesperson for Meta said that every transaction that occurs on the platform will be subject to a discount of 47.5%, where this figure is obtained from 30% hardware costs and a 17.5% platform discount.
2. Helium Systems, Inc.
About US$19 Billion in revenue was generated by Helium Systems via Web 3.0. Helium is a US-based development company for the internet of things. Helium focuses on network development and data transformation of IoT devices.
More specifically, Helium provides tools and solutions for building large wireless infrastructure at great cost by leveraging the use of blockchain technology.
3. Coinbase Global, Inc.
Coinbase Global, Inc. also known as Coinbase operates as the largest cryptocurrency exchange platform in the US. Coinbase offers a secure online platform to buy, store, convert as well as sell cryptocurrencies.
As of April 2022, Coinbase has launched a Web 3.0 social marketplace for non-exchangeable tokens in beta. This is intended for beta testers to create a Coinbase NFT profile to buy or sell NFTs.
Later in May 2022, Coinbase also ventured into new ventures by announcing the introduction of a Web 3.0 mobile DApp (decentralized application) and DeFi wallet via the Coinbase app. It is known that the revenue that has been pocketed by Coinbase is around US$7.84 Billion.
4. Polygon Technology
This time a company made in India, which has revenues of US$436.3 Million, Polygon Technology is a developer of a decentralized Ethereum scaling platform, they are focused on offering a blockchain network to organizations by building easy-to-use dApps with the lowest transaction fees.
As of May 2022, Polygon has launched a new network for Web 3.0 development to bring about mass web 3.0 adoption.
5. CoinSwitch Kuber
The second company from India is CoinSwitch Kuber, which is the most reputable and reliable cryptocurrency platform in India. There is a prominent advantage that they offer to their customer experience, namely, there is no time limit to buy, trade and sell your favorite cryptocurrency from the digital assets provided.
CoinSwitch Kuber works by promoting blockchain developers and offering solutions with blockchain in areas such as entertainment, tools, finance, logistics, agricultural technology, and healthcare. This is what drives CoinSwitch Kuber to earn US$50 Million in revenue.
Web 3.0 can be said to be a cultural, economic, and social breakthrough that changed internet life from being a closed platform to a decentralized network. Web 3.0 will let the whole world learn how to build and live in a renewable world. Several new billionaires will be printed through Web 3.0 companies, the high enthusiasm of the market and the cleverness of business people to see opportunities is certainly the reason for Web 3.0 companies to become rich.
So, as you already know, Web 3.0 companies make money in many ways. Some try to create their tokens and get other people to apply them, some also charge user registration fees as a surefire way to make money, while others are busy making applications. Everything is legal as long as it’s not illegal.
If you are interested in creating an application to run on Web 3.0, it’s a good idea to visit our website at Emveep.com to look for opportunities, exchange ideas, and discuss business-related and application developers that you can work with us.