Web3 Technology

4 Web3 Technology Success Stories [2024]

Pat Walls

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Updated: October 10th, 2024

Imagine a new internet where you own your data and digital assets without the need for middlemen. Welcome to Web3 technology.

In simple terms, Web3 leverages decentralized blockchain tech to give users more control over their digital lives, from online transactions to content creation. By removing intermediaries like banks or web-hosting services, Web3 technology empowers individuals to interact directly and securely.

Starting a business in Web3 means diving into blockchain, smart contracts, and decentralized applications (dApps). It's not a walk in the park—expect to spend time understanding these technologies and finding the right development tools.

However, the rewards are substantial. As businesses and consumers shift towards decentralized solutions, being an early player in the Web3 space puts you ahead of the curve. With endless applications from finance to social media, Web3 offers a future-proof business opportunity.

In this list, you'll find real-world web3 technology success stories and very profitable examples of starting a web3 technology that makes money.

1. Finvault ($2.64M/year)

Punit Thakker, the CEO and co-founder of Finvault, came up with the idea for the digital wallet after recognizing the need to bridge the gap between traditional finance and decentralized finance (DeFi). With a background in fintech and cybersecurity, Punit and his co-founder Christian Papathanasiou aim to create an equitable financial ecosystem by providing a platform that allows users to manage all their bank accounts and crypto in one place. They have built a skilled team of developers and designers to bring their idea to life and are preparing for a phased launch into the UK and European markets.

How much money it makes: $2.64M/year
How much did it cost to start: $700K
How many people on the team: 13

On Disrupting Fintech & Building A $2.6M/Year Digital Wallet

Finvault co-founder Punit Thakker discusses the digital wallet's mission to financially connect users worldwide by providing one platform to manage all bank and crypto accounts; the platform is due to launch with initial features, including a crypto exchange, and is projected to achieve a customer acquisition cost of $10.75 and lifetime value of $4,800 based on a two-year lifecycle assumption.

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2. Cobuild Lab ($1.08M/year)

Angel Lacret, the founder of Cobuild Lab, started the company 5 years ago after moving to Miami from Venezuela. As a software engineer with previous experience in creating products for startups and government organizations, Lacret saw the need to help entrepreneurs succeed by providing them with custom software solutions. Over the years, Cobuild Lab evolved its product development process, focusing on sustainable software development and establishing a strong customer service approach. Despite the challenges posed by the COVID-19 pandemic, the company adapted its strategy and saw significant growth, doubling its revenue and staff in 2021. Cobuild Lab's future goal is to continue expanding its sales and lead generation efforts, aiming for a 2x growth in 2022.

How much money it makes: $1.08M/year
How much did it cost to start: $20K
How many people on the team: 45

I Started A $1M/Year Software Development Agency After Moving From Venezuela To Miami

Cobuild Lab's CEO and Founder Angel Lacret shares his journey of starting a custom software solutions company, starting from $20k and growing to a team of over 50, and offers insights on attracting and retaining customers through a strong digital marketing campaign and building personal relationships, as well as emphasizing the importance of product market fit and sales.

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3. Weichie.com ($360K/year)

Bob, the creative director at Weichie, accidentally started his freelance business while working in a digital agency in New York. After gaining experience in SEO and website design, he launched Weichie.com and used it as an example site to showcase his skills. Through word-of-mouth referrals and a focus on customer satisfaction, Bob's business has grown to specialize in eCommerce and SEO, with a goal of becoming an authority in the field.

How much money it makes: $360K/year
How much did it cost to start: $3K
How many people on the team: 2

How I Started A $15K/Month Ecommerce And Web Design Agency

A creative director at a Brussels-based creative, technology, and e-commerce optimization agency outlines their process of building a digital agency that focuses on eCommerce and SEO-based projects while providing tips on the importance of looking up to others but never comparing yourself to them.

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4. Olidrel Hub ($12K/year)

During a time of severe financial struggle, Atoyebi and Bamidele saw the chronic unemployment in Nigeria and co-founded Olidrel Hub, attracting over 80 trainees in one month with 90% of interest generated through word of mouth.

How much money it makes: $12K/year
How much did it cost to start: $4.1K
How many people on the team: 4

Empowering Nigerians To Learn Tech With Our $1K/Month Education Business

"Case Study: Olidrel Hub, a Nigerian tech training platform, attracts over 80 interested participants with word-of-mouth marketing, receives initial investment of $2000, and aims to empower 2,000 youths in the next 5 years."

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Read by 1,419 founders