Today many real-world Entrepreneurs would like to explore the crypto world and get started with web3 projects. Some new as well as experienced entrepreneurs would like to explore. There are many opportunities available and if they have very good thinking, they can even come up with a unique business idea. That's what they usually entrepreneurs do and that's their secret of success. When they do something that others in the market don't do, they get a ladder to success.
In this article, we are going to see the top 5 business ideas using web3. These days web3 has become a very fancy word. Not everyone is understanding about web3 but they would like to explore and get started. I have also had a few people in the real world approach me asking for ideas on how they can get started in web3. All they want to do is to do a project in web3 but they fail to understand the basics of blockchain technology or cryptocurrencies.
Decentralized Finance
Decentralized finance uses many strategies like trading, lending, borrowing, and swapping. People prefer decentralized platforms compared to centralized platforms. But even the decentralized platforms are usually operated by a centralized company but there are many options available on-chain where people can have their instance of the app and still do things on-chain. This is more to do with decentralization. Yield farming can be an old trend but there are still people using many platforms for Yield farming.
NFT showrooms and marketplace
A place where people can buy and sell their NFTs. This concept became famous only recently and has slowed down but there is a demand for NFT showrooms and people can come up with a proper concept and create a platform for others to make use of this. This is more like a marketplace where people can buy or sell their digital assets in the form of NFTs. There are also talks about making NFTs out of government documents so that it is unique and is also transferrable and decentralized so that it is transparent to everyone. It will take several more years to come to reality.
Blockchain games
Creating blockchain games is still a hot thing in the crypto world. Tokenomics plays an important role in the blockchain games. We have to be very clear on what needs to be expected out of blockchain games. Some people don't plan their tokenomics very well and that's one of the biggest reasons why many good games are sitting idle with no big progress. Slowly many big game development companies are trying to get started in building blockchain games. It is mostly like a bridge between a web2 game and a web3 game. Games cannot be fully on web3 from my experience because we might have scalability issues and performance issues.
Decentralized social media and content platforms
Hive is one of the best examples of this. There have been many web2 platforms available focusing on content creation. One of the biggest advantages that web3 content creation platforms give is that it rewards the users for content creation. Freedom of speech is also something that is taken into consideration here. There are other platforms where there is censorship and centralization. In the web3 content platforms even if the content is censored, it will be available on the blockchain forever and it can be referred to at any time.
DEX or CEX
Both DEX and CEX is a great business. We have many centralized exchanges available already but they are not enough and we also fear the government regulations. Some of the centralized exchanges even though they take KYC from the users, they don't comply with all the regulations in all the countries and it becomes hard for them to manage. I see a lot of scope here for improvement. But the future would be great if it had more to do with DEX instead of CEX because there will be no regulatory concerns if it is a DEX and it can be operated by anyone anonymously. Security issues are one problem if we don't have a tracing facility.
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