While the world’s largest tech giants have become accustomed to raking in billions in advertising fees and subscription fees, the business is no longer the exciting growth opportunity it once was. Today, emerging technologies focused on blockchain and Web3 show higher growth potential, and some of the tech industry’s most experienced minds have taken notice.
The latest data from YCharts shows that the number of daily active addresses on the Ethereum blockchain has increased from 200,000 in January 2020 to over 559,000 today. This represents an increase of around 65%, impressive growth by the standards of any nascent industry.
No matter how you define Web3, there is no doubt that it is a beautiful space for many exciting talents in the technology industry.
At a time when many traditional tech companies are announcing waves of layoffs, venture capitalists continue to pour huge sums into the Web3 industry. Last year, blockchain startups received more than $25 billion in venture capital funding, according to CB Insights. The Web3 movement is still in its infancy, but many of the tech industry’s brightest minds are enjoying the challenge of leading their most promising startups.