Best Web3 projects this year

How is Web 3.0 doing this year?

Sometimes people associate Web 3.0 solely with cryptocurrency, but it refers to a technology with a potential for change in more aspects than just the financial one. The decentralised network is about to change the way users interact with the web, conduct financial transactions and own digital assets. 

The core idea behind the Web 3.0 movement is to make use of blockchain technology, non-fungible tokens (NFTs), decentralised autonomous organisations (DAOs) and cryptocurrencies to deliver an online set up where users enjoy complete digital ownership, along with enhanced privacy and security. 

As technologies develop and the crypto market matures, Web 3.0 crypto projects and blockchain technology drive novel applications and use cases in the coming years.  

 51% of people believe that tech companies have the responsibility for Web3's effects on society.

For example, the decentralised space is already seeing increased use cases across divergent sectors such as identity verification, supply chain management, decentralised storage network, and gaming, along with the continued development of smart contracts.  

Therefore, Web3 (referenced in this article as Web 3.0 on early mention) is doing just fine. Naturally, it takes some time for the future of the Internet to develop and expand its user base, but it has the potential to reshape the way we use and look at technology.

The crypto industry comes with a bunch of surprising and valuable technological updates, and many other industries found new use cases within the crypto space. Even though the downfall of popular crypto projects diminished the trust of the general public, new Web3 projects and emerging technologies leave little room for pondering over what could have been.

If you are not sure what constitutes the third-generation Internet specifically, we suggest taking a look at this article first: 'What is Web3?'.

Why should you pay attention to Web3 trends?

Being up-to-date with the newest trends enhances the understanding how the industry will progress in the future. Discovering patterns sheds light on the potential effects of Web3 and which significant innovations it could bring to the table. 

If we take a look beyond the hype, it can be spotted that everyone is investing in the new Internet. Investors are strategising to ensure their tech investments are relevant in the light of technological innovations by investing in Web3 pioneers.  

Interestingly, big tech companies and venture capitalists are currently one of the biggest investors in Web3. For example, big tech is trying to integrate the Metaverse concept as soon as possible to ensure that the future continues to take place on platforms they can control. 

Given that the main concept of Web3 is about decentralised governance and privacy, this notion sounds a bit odd. However, other dominating investors are targeting Web3 opportunities in the hopes of creating novel business use cases along with the vision of autonomy and decentralised finance.

The sparking interest in Web3 crypto projects means that many of us have recognised its potential. Learning about Web3 and staying up-to-date with current trends and use cases opens up a whole new understanding of how the global network and blockchain technology sectors could be used.

A list of top Web3 crypto projects this year

Let's move to an analysis of the most popular Web3 crypto projects and blockchain technology implications this year.  Many Web3 crypto projects cover areas with a vast range of divergent use cases.

Many services are built on the Ethereum blockchain and used to transmit data, connect the blockchain space to real-world data, enhance gaming or decentralised video streaming or revolutionise the way we interact with the Web.

Read on to learn more about each Web3 crypto project and how they provide insight into the future potential of the decentralised network.

Bitcoin ETF token

The Bitcoin ETF Token is not just another cryptocurrency project, yet a Web3 crypto project anticipating the significance of Bitcoin ETFs. The Bitcoin ETF token provides investors with a more accessible manner to invest in cryptocurrencies via the stock market.  

This development reflects the notion that regulatory decisions and investment products like ETFs can have a significant impact on the cryptocurrency market.

Key advantages

The Bitcoin ETF Token made this list due to several reasons; it has been widely recognised as one of top Web3 coins as a new initiative that is tied to the fate of real-world financial markets.

This ERC-20 token positioned itself to capitalise on several events and the growing anticipation around approving Bitcoin spot ETFs by regulatory bodies such as the US Securities and Exchange Commission (SEC). 

The native BTCETF token is currently in the presale phase which is structured across ten main stages. The presale has gained a lot of popularity due to a high degree of investors’ interest. 

An interesting feature of Bitcoin ETF refers to its staking mechanism; it provides one of the highest Annual Percentage Yields (APY) in the crypto market which is an upper-hand for early buyers to maximise returns. Due to the ability to efficiently stake tokens, the Bitcoin ETF Token offers a unique passive income opportunity

The Bitcoin ETF crypto project uses a deflationary model to maintain a stable long-term value, along with a determination to burn 5% of its token supply when reaching various milestones related to Bitcoin ETFs such as the SEC's approval of Bitcoin spot ETF, the launch of the first ETF and Bitcoin reaching a $100k value.

An ETF is a combo of various assets such as Bitcoin or Google stocks. Being regulated by the SEC, it means that Bitcoin ETFs can trade on traditional exchanges, along with being more tax efficient.

Potential drawbacks

Even though the Bitcoin ETF Token project stands out with its main perks, it includes several drawbacks. Primarily, a broad amount of Bitcoin EFTs translates to high management fees. Despite being more efficient in the aspect of tax implications, users need to take these management fees into account.  

Since a Bitcoin ETF encompasses multiple holdings, a rise or decline in Bitcoin’s price could lead to price inaccuracy. Keep in mind that ETF itself is not a cryptocurrency but an investment fund that tracks the price of Bitcoin. 

Even though blockchain technology provides security and decentralisation, these advantages could be lost due to the government overseeing and regulating Bitcoin ETFs.   

In October 2023, Bitcoin spiked from $27,900 to $30,000 following a tweet that falsely stated that the SEC had approved a spot Bitcoin ETF from BlackRock. The largest cryptocurrency by market capitalization rapidly reverted to $28,103.

Bitcoin Minetrix

The Bitcoin mining industry became one of the most lucrative sectors of the crypto market during a bull run within the crypto ecosystem. However, many users gave up due to the broad cost of investment required to set up a competitive mining operation. 

We frequently use the terms bull and bear in the light of the functioning of the crypto market; if you are a crypto beginner, we suggest reading this article to learn more: 'What do the terms Bull & Bear market mean?'.

Bitcoin Minetrix (BTCMTX) refers to a new Web3 crypto project regarding the Bitcoin cloud mining space that provides an eco-friendly Stake-to-Mine model. The project provides a user-oriented approach in contrast to traditional cloud mining methods and cash contracts.

Key advantages

By revitalising cloud mining, this decentralised platform provides a novel environment with lowered entry barriers, no upfront costs and enhanced security. Bitcoin Minetrix combines the concepts of staking and mining to offer an efficient cloud mining environment. 

To gain mining credits, users can stake the platform’s native token known as BTCMTX. These credits can be burned to secure Bitcoin mining power, providing a simple manner to participate in the mining process. 

Another interesting advantage refers to a user-friendly dashboard that tracks all important metrics related to mining such as monitoring hashing power and mining credit earnings or tracking projected rewards.  

According to the team behind the Bitcoin Minetrix project, it takes into account users’ financial freedom by allowing them to unstake and trade their tokens based on market conditions instead of using locked-in contracts. 

Secondly, the team stated that the Bitcoin Minetrix project conducts audits of smart contracts to prove that the platform is committed to a security-oriented approach when it comes to cloud mining activities.

Potential drawbacks

Even though Bitcoin Minetrix has been highlighted as the next cryptocurrency to explode, there are few potential downsides. For example, there are still risks when it comes to investments and crypto mining returns since none of these can be guaranteed. 

However, Bitcoin Minetrix seems to have more positive features than negative. On the other hand, there have been some rumours that this crypto project could be a scam.

The community discussed this on Reddit, and stated that there is not much information on the team or the location, along with allegations that it might be too good to be true. While there is only little information about this project, some other authors deem it as a legit one.

Meme Kombat

Meme Kombat is a novel Web3 crypto project that fuses gaming, artificial intelligence (AI) and passive rewards to its community of players. The native cryptocurrency known as MK is currently on the presale.

The decentralised platform encompasses a limited supply of 120 million tokens, and half was allocated for presale. The rest has been allocated for staking and battle rewards, community rewards and decentralised exchange (DEX) listing.

Meme Kombat utilises Ethereum-based smart contracts for staking and wagering. It has been stated that the project focuses on transparent and secure transactions.

Key advantages

The Meme Kombat Web3 project brings three main features – automated battles, wagering and staking for passive earnings. Characters representing divergent Meme crypto coins engage in automated battles with outcomes determined in the blockchain. These battles use AI as their underlying technology to provide an unpredictable gaming experience.  

As stated by its whitepaper, the project allows users to engage in battles featuring popular Meme characters such as Shiba Inu, Dogecoin, Wojak and Pepe. Given that all battles are processed on-chain and that Memes are randomly selected by AI, the fight outcomes are stated to be tamper resistant. 

Holders of native crypto coins are enabled to stake and wager their crypto assets on the outcomes of automated battles. Network users have the opportunity to win valuable rewards, including additional crypto coins. 

Aside from the battles, token holders can stake their crypto assets to earn a passive Annual Percentage Yield (APY). Such a mechanism rewards users for their engagement and long-term support. The APY provided to stakers is one of the project’s major highlights since it is allegedly higher than other Meme coins in the market.

Potential drawbacks

There is not much information on the Internet about this project. Additionally, there haven’t been any scam-related allegations regarding Meme Kombat. Currently, the only potential downsides are linked to the maturity of the project and the state of the crypto market. 

It is difficult to assess market sentiment after launch. If you take into account the bearish phase of the crypto market, it is evident that Meme coins can be volatile at the moment.

Scorpion Casino

Web3 online gambling platforms are trending due to their increased focus on user experience, efficiency and convenience. Scorpion Casino is a new Web3 project that demonstrated effective use cases in the multi-billion dollar betting market. It has been stated that Scorpion Casino is a well-designed platform with a potential to capitalise on the expanding online gambling market. 

The Scorpion Casino space includes a licensed crypto casino platform with more than 200 casino games and a licensed sports betting section. SCORP is the native cryptocurrency used at Scorpion Casino.

According to the team behind Scorpion Casino, the secure platform tends to provide a safe and transparent environment for earning in contrast to the manipulative nature of the traditional gambling industry.

Main advantages

If you simply google Scorpion Casino, you will find articles stating that the project is redefining the definition of passive income in the Web3 ecosystem due to its vision to provide a sustainable passive revenue stream to Internet users in its space. 

Scorpion Casino includes an attractive reward system allowing users to earn up to $10,000 as daily passive income based on their integrated re-distribution structure. The project has utilised a system to support its price action once the token goes live on crypto exchanges. 

The first component of this system refers to a staking pool which enables Internet users to earn passive income daily through staking. The main objective behind the first element is to reduce the circulating supply and expand the user base. As stated by the team, 20% of the sportsbook and casino operating profit will be used to buy back SCORP tokens. 

On the other hand, 50% of the tokens bought back shall be burned and, therefore, permanently removed from circulation. The main objective behind this notion is to reduce the circulating supply, and to bring the next 50% to the staking rewards pool. 

The Scorpion Casino has announced that it secured listings with popular centralised exchanges, along with partnering up with credible platforms such as AMATIC, EGT, Play N Go and Novomatic.

Potential drawbacks

The trust score of Scorpion Casino, based on different websites, seems to be something in-between average and good. There have not been any scam reports or allegations so far.  

When looking at divergent reviews, it can be noted that potential downsides include the fact that not all payment methods are available for all countries and that the platform doesn’t have a live chat option. 

Additionally, it has been stated by multiple sources that not many users have visited the project’s website.

Wall Street Memes

The Wall Street Memes project aims to redefine the general perception of meme coins, frequently deemed as a joke within the financial industry. This project gained a lot of popularity on social media platforms, even getting the attention of Elon Musk. 

The Wall Street Memes’s native token didn’t emerge out of the blue; it has roots embedded in the Wall Street Bets movement that had an impact on the financial space. The movement in question, focused on stock trading at first, became a symbol of retail traders challenging the traditional establishment. 

Main advantages

Operating on the Ethereum network as an ERC-20 token, the native cryptocurrency WSM includes a total supply of 2 billion tokens. Smart contracts used by the project encompass features such as auto-burn and liquidity pool contributions that amount to its complexity as a crypto asset.

The Wall Street Memes project is backed by the Wall St. Bulls brand and includes a broad social media following. The presale of the WSM token managed to raise over $25 million, demonstrating a strong presence within the decentralised finance industry.

The project provides the feature of staking as a way for users to make passive income. At the time of writing, it has been stated that it provides an annual yield of over 60%. The staking mechanism provides 75 WSM tokens per validated block. 

As stated by the project’s team, over 318 million WSM crypto coins are already staked which demonstrates strong support by the community. 

The Wall Street Memes’ roadmap is divided into three phases. The first phase is about focusing on developing a secure smart contract, building a strong community and launching branding and marketing campaigns.  

The second phase is focused on the official listing of the native cryptocurrency, strategic partnerships and awareness campaigns to take the project mainstream. As stated in its whitepaper, the third phase is all about community empowerment and achieving a $1 billion market capitalization milestone.

Potential drawbacks

While most articles on the Internet are about the successes of Wall Street Memes, it has been noted that the project’s Discord community suffered from a coordinated attack. The project immediately handled the attack and released an official statement. 

On the other hand, there is not much information available regarding the project and its credibility. Critics have pointed out that Meme coins generally lack intrinsic value which makes them a risky investment. A part of the Reddit community spotted some bugs such as a disable withdrawal button, and there have been several scam allegations as well. 

Tamadoge

One of the main perks of the Web3 ecosystem is the possibility to make money online from the comfort of your home. Play-to-Earn crypto gaming platforms are a significant part of that space.

The recently launched Shiba Inu meme-themed Web3 gaming platform known as Tamadoge combines the gaming world with blockchain technology. Players are enabled to earn rewards in TAMA, the platform’s native token, distributed through a prize pool. 

Key advantages

The gaming platform includes a wide array of retro arcade games. It has been stated that the platform ensures digital ownership of in-game assets while leveraging main perks of blockchain technology such as decentralisation, security and transparency. 

The integration of smart contracts, and the use of NFTs allowed players to collect, trade and earn digital assets. 

The native token is a deflationary asset since the supply of TAMA decreases; basically, 5% of all TAMA spent is burnt.  

An attractive feature of this project is the ability to purchase Tamadoge pets in the form of digital dog-like characters. Tamadoge pets are minted as NFTs through smart contracts’ functionality, and each of them offers unique features and designs.

At the time of writing, the gaming ecosystem encompasses six games spread across two applications. Recently, the project launched its 3D NFTs, along with features such as staking and a novel token destruction program.

Potential drawbacks

Even though it has been claimed that Tamadoge is fully audited by Solid Proof and fully checked on CoinSniper, along with an anti-rug pull mechanism, a year ago online discussions regarding the credibility of the project. A part of the community called it out for being promoted by influencers without giving away any additional information.  

However, there haven’t been any other scam-related allegations regarding this Web3 project. 

When it comes to potential drawbacks, we can highlight the competition on the crypto market. There are a bunch of meme coins on the market, and most of them are promoted by influencers. The long-term success of Tamadoge depends on its ability to stand out among other projects and expand its user base.

Launchpad XYZ

Launchpad XYZ has been acknowledged online as one of the top Web3 crypto projects providing a wide array of services to help people navigate the Web3 environment. It offers data and tools for investors, crypto traders and users to make the Web3 ecosystem more profitable. 

The project encompasses various analytical tools and insights, along with its own self-custody crypto wallet, decentralised exchange, fractionalised digital assets, NFT marketplace and a trading terminal. The native cryptocurrency of the platform is the LPX token.

Main advantages

Launchpad XYZ aims to become a one-stop shop for users within the Web3 ecosystem. A broad range of available tools plays a significant role in the project’s popularity, along with a user-friendly dashboard.

According to the project’s whitepaper, it seeks to bridge the gap between Web2 and Web3 by providing a comprehensive and user-oriented portal for investors and individuals to utilise cryptocurrencies in the Web3 space. 

If you're interested in a more detailed observation of the interaction between Web2 and Web3, check out this article: 'What is Web3? Understanding how the decentralised web could replace Web2'.

The project’s roadmap includes several ambitious plans such as developing a gaming hub, DEX, and a bunch of tools for market analysts. 

One attractive feature of this project is that it appeals to novice and expert traders as well as investors alike. While it lays down many advanced analytics tools, it encompasses simple guidance for beginners as well.

Potential drawbacks

Similar to other projects on this list, Launchpad XYZ currently provides limited information which makes it hard to evaluate it entirely. Since it is a new project, it carries a certain level of risk. However, there haven't been any scam-related allegations.

yPredict

The yPredict Web3 project is based on an algorithm that utilises AI and machine learning to create predictive models for crypto assets. In other words, it uses AI to predict the price movements of digital assets. 

The project provides a marketplace for expert analysis and investors who want to monetise on data insights. The platform encompasses a wide range of products such as technical indicators and chart recognition patterns.  

The yPredict ecosystem is fueled by its native token YPRED which can be used to gain access to a number of services, to buy subscriptions or stake tokens to generate APY rewards. 

Main advantages

The underlying algorithm of the project analyses the markets around the clock and notifies users when a trading opportunity emerges. It can source real-time market trends without the need to perform manual analysis.  

The AI-based predictive model suggests whether the user should go long or short on the finding as well as which limit, stop-loss, and take-profit orders to place. It is suitable for both novice and expert users to gain insight into the crypto market. 

Subscription to predictive models is paid with YPRED, the native token of the yPredict ecosystem. As stated in the project’s whitepaper, the total supply equals only 100 million, which presents a limited supply compared to other crypto projects. 

The yPredict project includes several main predictions; first we have AI-powered price predictions which are available for a wide range of crypto coins, including novel altcoins on the crypto market. Secondly, the project brings to the table a technical analysis platform that can identify many common chart patterns. 

Furthermore, yPredict utilises an indicator analysis used for testing technical indicators on each token. Users are notified regarding highly bearish or bullish indicators. Finally, it provides a market sentiment analysis which provides news about a particular token.

Potential drawbacks

According to multiple online sources, yPredict has a moderate trust score. The team behind the project is publicly stated and the project’s roadmap. It has been noted that users should be aware of mistakes made by AI since not all predictions can be considered entirely accurate. 

There have been a few bad reviews regarding the presale operation. However, back in May 2023, yPredict launched an official warning regarding fraudulent activities targeting their presale.

Basic Attention token

Another important aspect of Web3 is believed to be digital marketing. When users are browsing their desired websites, they usually bump into advertisements that are not relevant to their interests. Additionally, marketing agencies pay websites to display their ads, but none of the revenue goes to the audience.  

This is where the Basic Attention Token (BAT) project jumps in; the blockchain-based system for tracking media consumers’ time on websites aims to efficiently distribute advertising revenue between advertisers, publishers and readers. 

The main vision of the project is to provide crypto users with well-tailored ads while not hurting their right to data privacy. Users are rewarded with BAT tokens for viewing ads.

Key advantages

In advertising, revenue depends on how many users view a product or service. However, it is not all about views since most users may not be paying attention. The Basic Attention Token aims to compensate viewers with BAT tokens to make sure that ads are truly being viewed. 

All BAT transactions are settled on the Ethereum blockchain. BAT functions on a web browser known as the Brave Browser; it is a free browser which, as stated by the team, only serves ads if users opt-in.

Users can sign to the Brave Rewards program which enables them to be paid in BAT tokens for viewing ads. Users can exchange it for fiat money, hold it in their crypto wallet or trade the tokens on exchanges. 

Another important feature is the Brave Micropayments Ledger used to track the movement of BAT. The project aims to enable advertisers, publishers and users to enter into smart contracts and move crypto payments between each other. 

Additionally, the BAT project is examining the use of zero-knowledge (ZK) proofs to provide anonymity to stakeholders in online media transactions.

Potential drawbacks

Before discussing potential drawbacks, we must add that this project has laid down more pieces of information than the other mentioned projects so it enabled a more detail-oriented assessment.

The BAT model heavily relies on the adoption of the Brave Browser; in fact, the Brave Browser is the only way to interact with digital ads.  

The model may be innovative, but it disrupts the established system of digital marketing so it may be hard to expand the user base. 

Additionally, critics have pointed out that it encompasses relatively high transaction fees and that the value of the native token is influenced by Ethereum’s performance on the market.

The integration of artificial intelligence and blockchain technology

This year has been dominated by two significant technological innovations- Web3 and artificial intelligence (AI). Both of them have been deemed as transformative forces on an individual basis. 

Even though it might seem that these technological phenomena are overshadowing each other, industry experts argue that they are complementary and that the potential of their successful integration presents an interesting narrative for the future. 

To sum it up – while AI has the ability to enhance the functionality of Web3 applications, the new Internet can bring to the table a more secure and transparent platform for AI-related operations. Such an integration could create novel business models and incentives in the areas of governance and tokenization.  

However, this synergy comes with a few challenges. AI has been under scrutiny for a while due to ongoing regulatory issues, along with concerns regarding security and complexity. It has been highlighted many times that the development of AI needs to be overseen.

On the other hand, the symbiosis of Web3 and AI is already happening. We have already mentioned that Meme Kombat uses AI for their automated battles as well as yPredict and Launchpad XYZ. Furthermore, Solana has integrated with the popular AI language model known as ChatGPT. This represents an example of the potential of combining decentralised governance with enhanced data processing capabilities. 

Should you invest in new crypto projects?

This article doesn’t present investment advice. The golden rule in crypto investing remains the same – always do your own research.  

Keep in mind that most of Web3 investing is based on narratives. Simply put, the core team is spreading the word on what a project is doing to enhance the Web3 space. When making investment decisions, you shouldn’t rely on narratives. 

Investing in Web3 typically includes two main forms – buying cryptocurrencies and buying stocks of companies that are creating products aligned with the principles of Web3. 

Investing in Web3 can be challenging. Before making any investment, you should take into account a few metrics such as your investment goals, risk tolerance levels, the credibility of a project, real-world utilities and Web3 regulations in your jurisdiction.  

Take a look at the founders, and examine the way they manage their project as well as the value add of the project. Any investment, either crypto or traditional, brings to the table a certain degree of risk; base your investment decisions on knowledge rather than being carried away by the hype.

Even though you have to be cautious when it comes to Web3 investing, it includes several upper-hands. For example, there is a potential for high returns on investment as the space matures. The market data is more secure due to the use of blockchain technology, and the services are more user-friendly in contrast to traditional financial institutions.

The future ahead

There are numerous projects that align with the principles and objectives of Web3. The Web3 concept is mainly focused on a user-oriented and decentralised Internet rather than on specific technical requirements.  

The Web3 space is creating a new innovation era. All these crypto projects demonstrate the broad potential of the Web3 concept and underlying technologies in reshaping different industries.  

As the Web3 concept is progressing, it is significant to consider all societal and legal implications as well as increased transparency and security. The Web3 era will require the collaboration of multiple blockchain networks to process data and execute smart contracts.

Overcoming challenges is vital for the development of Web3 and provides a new space of decentralised opportunities. Collaboration and empowerment of the community, developers and regulators could be a cornerstone of this ‘catch-all-term' to reach its full potential.