Blockchain Startups: Should You Join the Industry?
What are blockchain startups? How do they work and make money?
Thanks to blockchain technology, the metaverse, digital currency, and crypto games have become part of our society, offering a new taste of the world.
Moreover, blockchain’s unique nature is why more and more blockchain startups are taking part in civilization.
In the future, the global industry will face a great shift to a digital environment, and we’ll see more blockchain startups coming our way.
But how do blockchain startups actually work and generate money?
Let’s delve deeper into the topic as we brace ourselves to welcome a far way digitized society.
What are Blockchain Startups?
Blockchain startups are companies or businesses that adjust blockchain technology into their core system.
As a ledger, blockchain’s decentralized, transparent, and immutable nature allows businesses to do peer-to-peer transactions and record them securely.
Moreover, digital currencies like Bitcoin, Etherium, and 20,000 others have become the primary means of transaction in the ecosystem.
Nonetheless, the use of blockchain is not only limited to crypto trading but goes to a broader spectrum.
Its top-level security nature makes companies use blockchain technology for data validation, identity protection, and data access.
How do Blockchain Startups Make Money?
It’s understandable if we become skeptical about blockchain startups as they use NFTs and cryptocurrencies for transacting.
‘How do blockchain startups make money?’ is among the most frequently asked questions by many, and perhaps you too.
The most common way blockchain startups make money is by charging transaction fees.
A transaction fee is deducted from a user’s blockchain account every time they use a service under the blockchain nature.
The fee then goes to the company’s account and becomes a profit.
There are still some other ways blockchain startups make profits, including providing paid consulting services, enabling mobile apps, raising money from investors, and putting advertisements on their websites.
See: Boost Your Fintech Product Awareness with Explainer Videos
Well-Known Blockchain Startups
When blockchain was still less-known, there were only 66 blockchain startups in 2012, but the number kept escalating over the years.
In 2018, the number rose to 318, and it has become predictable that blockchain startups will sprout even more in the future.
There have been countless blockchain startups as of now, but here are some well-known names in the industry.
Coinbase
Year founded: 2012
Coinbase was among the first startups to use blockchain technology until it became the first crypto unicorn in 2017.
It’s a digital currency platform and wallet where merchants and customers can buy, sell, transfer, and store cryptocurrencies.
OpenSea
Year founded: 2017
OpenSea is one the first, largest, and hottest marketplaces for NFTs and crypto collectibles.
It allows users to browse, create, buy, sell, and auction NFTs or crypto goods within the platform.
Chainalysis
Year founded: 2014
Chainalysis is a transaction monitoring solution providing anti-money-laundering software for banks, government institutions, and other members of the blockchain ecosystem.
The main abilities of Chainalysis include identifying, investigating, and disqualifying hacked or stolen funds.
Watch Our Explainer Videos about Blockchain Startups
Breadnbeyond brings out animated explainer videos about blockchain startups for you to understand better.
The videos below can help you grasp the bottom line of blockchain startups in the most fun and exciting way.
Video 1
Motion graphics are one of the best explainer video styles to explain complex ideas or messages.
They help visualize the concept of blockchain startups using animations and graphs combined with crack-free transitions.
Video 2
The above-animated explainer video also uses motion graphics to introduce blockchain startups excitingly.
It brings you to the cosmos of blockchain technology with appealing animations and flawless transitions from the get-go until the end.
Video 3
The third video relies heavily on 2D animations as the leading actors in explaining blockchain startups.
With more colorful animations, driving music, and compelling narration, the video can help viewers to digest the materials effortlessly.
See more videos: 65+ Outstanding Crypto Video Examples [Best Picks in 2022!]
We’ll see more blockchain startups ahead as over 60% of global institutions plan to invest in developing the technology.
Many global companies from various fields value blockchain as a solution for their organizations in the future years.
We can tell blockchain industries will keep sprouting in the next decade, so do you dare to join the trend and establish your own blockchain startup?
