Many Of These Workers Have Relocated Into Blockchain As A Similar Industry

The world of Web3 has had a difficult 18 months, having to overcome a series of publicized scandals as well as pushing through one of the worst bear markets in recent history. Despite a fall in the total locked-in value of many cryptocurrency projects, the world of blockchain is still going as strong as ever before.

In fact, the 2022 year of downturn actually served as the perfect period for Web3 companies to concentrate on expanding their employee base and bringing on top talent from other industries. The tech field has recently gone through a mass exodus, with more than 216,000 tech workers being laid-off in the US alone.

Many of these workers have relocated into blockchain as a similar industry. The rapid acquisition of new workers and the lower market prices have served as the perfect year for Web3 projects to innovate. Now, as we enter 2023, we're beginning to see the impact of the hard work these blockchain projects have been putting in.

In this article, we'll cover the top 5 Web3 projects to watch in 2023, touching on the enterprises that are making the biggest stir in the community. We'll be discussing the following:

• ParallelChain - Changing the Future of Web3 Infrastructure
• Xternity - Community-Focused Web3 Gaming
• Fuse - Bringing Web3 Payments to Life
• Glip - Bridging the Gap Between Web2 and Web3 Gaming
• SuperOne - The Fandom Metaverse for Entertainment and Sports

Let's dive right into it!

ParallelChain - Changing the Future of Web3 Infrastructure

ParallelChain has caught the attention of the blockchain community over the past year due to their commitment to innovating the world of blockchain as a whole. Since the inception of this ledger system, blockchain has run into several core issues that have prevented its widespread adoption. These issues, known as the interoperability and scalability problems, are what ParallelChain has set out to overcome.

Acting as a new layer one protocol, ParallelChain uses a Delegated Proof of Stake (DPoS) consensus mechanism that delivers high transaction per second throughput and faster completion times. TPS has plagued many world-class blockchains like Bitcoin and Ethereum for much of their lifespan, with low processing capabilities leading to high gas fees.

ParallelChain's Web3 project overcomes this issue, providing unlimited scalability to blockchains by offering over 120,000 TPS and ~3ms latency. Their validator system ensures high-quality validators, rewarding good participants by offering end-user transaction fees, new tokens, and other benefits.

Beyond just improving existing blockchain structures, they are actively breaking down barriers between Web2 and Web3. Their Proof of Immutability and Inter-ParallelChain Communication technology is able to actively facilitate a connection between public and private blockchains.

The reason that this project has risen beyond the community awareness of other similar projects is that it focuses on several functions at once. While there are Web3 projects that focus on private or wallet capabilities, none combine private, mainnet, and wallet with their interoperable goal.

Even so, their definition of interoperable goes beyond the cultural canon. Instead of only meaning bridging connections between different blockchains, it also encompasses the aforementioned link between DeFi and CeFi.

Finally, the cherry on top of this project is the fact that they're committed to being carbon neutral. Especially with the recent green-focused news around the environmental concerns that blockchains like Bitcoin create, this firm stance is sure to be well-received by the blockchain community.

The CEO of ParallelChain, Ian Huang, has been quoted as stating that "ParallelChain is finally the blockchain game-changer that the industry has been waiting for."

With that in mind, this is definitely a project to follow as we progress further into 2023.

Xternity - Community-Focused Web3 Gaming

Xternity has risen out of the Web3 community to position itself as the all-in-one Web3 development platform for the gaming economy. Their system offers game developers a comprehensive blockchain framework, allowing developers to focus on creating the best game possible without having to worry about any of the Web3 technicalities.

Game developers can access a powerful multi-chain API, crafting complex Web3 monetization systems for their communities to engage in. From a Web3 CRM dashboard, developers have access to world-class data analysis tools that help them purposely grow their game in the right direction.

The Xternity wallet is a cross-game system that allows gamers to store and interact with their digital assets. Completely optimized for in-game assets and linked to progression, challenge, and rewards systems, their secured and self-custody wallets are perfectly equipped to bring game economies into the world of Web3. With this, developers can bring their creations to life and start monetizing aspects of their games from day one.

As a comprehensive no-code solution for Web3 game developers, Xternity also includes all other digital asset features that make Play-To-Earn gaming so popular. Their system supports an NFT factory, where developers can build Web3 meta layers with crafting, breeding, and airdrop systems for users to engage with. All of these digital elements can be monetized, helping to further facilitate community engagement.

Xternity has become to chosen tool for gaming developers that are looking to forge their own Web3 communities. Even on the blockchain side, their technology is revered, with their interoperable systems catching the eye of collaborators like Binance, SolanaFireblocks, and more.

Most recently, they have announced a partnership with Polygon, which shows the extent to which Xternity has captured this element of the gaming market. They are helping Polygon to transfer their Synergy Land game from Solana to the Polygon ecosystem, with this migration helping further boost the functionality of the gaming world and decrease gas fee spikes. This is a fine example of how easy Xternity makes it to build on distinct blockchain systems that the developer chooses.

Beyond their phenomenal set of features and advanced systems for game developers to interact with, Xternity has become so popular due to their central mission. They want to empower game developers, helping to make Web3 gaming and engagement platforms accessible to absolutely everyone. And, considering how far they've already come, they're off to a roaring start.

Web3 gaming is the future of this 100 billion-dollar industry, with Xternity making adoption quick, customizable, and effortless.

Fuse - Bringing Web3 Payments to Life

Fuse was founded back in August of 2019 and has since evolved into an industry leader for integrating the existing digital payments ecosystem to Web3. Their goal is to be the world's first choice for Web3 payments, allowing both Web2 and Web3 businesses to easily integrate onto the blockchain. Currently, existing payment systems on Web2 rails are heavily westernized, creating problems for millions around the world that lack access to banking services.

The ability for folks to gain access to frictionless payments, passive income opportunities, and other necessary financial services is one of the largest factors that impair progress in developing countries. Yet, Fuse noticed that in these same regions, mobile growth has been astounding. With this factor in mind, their vision is to use blockchain technologies and crypto via mobile systems in order to financially empower the greater good.

Fuse aims to create next-generation economies, providing blockchain communities with PoS consensus mechanisms, mobile-first experiences, and low-cost operations. What's more, Fuse was specially created to be useful for both native and non-native blockchain developers, creating an interoperable EVM ecosystem that absolutely everyone can use.

Their platform is split into three main areas:

• Fuse Network Blockchain - An EVM-compatible public blockchain, acting as the permissionless foundation of the entire Fuse ecosystem.

• Chain-Related Infrastructure - This includes the multi-chain bridge that connects the Fuse Network to BNB Chain and Ethereum, as well as their staking platform and Spark testnet.

• Mobile-Centric Open-Source Tech Stack - Allowing developers and businesses to incorporate cryptocurrency payments into the framework of their offerings.

Not only does this allow for easy onboarding from Web2 to Web3, allowing companies to dive into this new sphere, but it also ensures customer experiences that Web2 users are familiar with can be easily repeated in Web3. Businesses that want to scale their offering are able to do so with Fuse, as they remove the complexity that's inherent in forging into new technologies.

Most recently, Fuse announced their VOLT DeFi app launch, which passed through beta testing back in September of 2022. VOLT is designed to act as the Web3 version of Venmo, allowing users to instantly send cryptocurrency from their digital wallets without having to go through a middleman.

Fuse will bring decentralized finance to the world, with their vision allowing for all businesses across the tech spectrum to naturally move into blockchain. Not only will this create an extensive Web3 ecosystem, but it will also act as a way of bringing the millions of unbanked people from around the world into a digital financial system - one that is not independent of an individual's geographical location.

Glip - Bridging the Gap Between Web2 and Web3 Gaming

Glip acts as a pathway of onboarding gamers from Web2 to Web3 with seamlessly integrating blockchain experiences. At its core, Glip is a gamer tool and cryptocurrency wallet platform. Instead of needing experience with blockchain to access, Glip allows users to sign up to their platform with their Google IDs. From there, they're able to access Web3 events, tournaments, quests, and play through a number of different Web3 games on their devices.

Currently, Glip boasts over 7 million downloads across Asia and South America, with over 2 million active users playing on games connected to Glip every single month. For Web2 developers that are looking to take their game to the next level and push into the world of blockchain, they provide an easy pathway of doing so.

Developers in this space can list their game with Glip, no matter whether the game is active or is still in its development stages. From there, they're able to get access to the Glip community, instantly connecting with millions of users from around the globe. For developers that are already in the world of Web3, this acts as a wonderful way of boosting the reach of their audience.

Equally, for developers that exclusively work in Web2, partnering with Glip will create unique opportunities for Play-2-Earn gaming, with listings, quests, and new tournaments for your game being posted regularly. From a gamer's perspective, the ability to play through Glip affords them an exciting way of earning cryptocurrencies while playing their favorite games.

The founder and COO of Glip, Ishan Shrivastava, sees this new era of gaming as a major opportunity, "Web3 games are unlocking new economic opportunities and enabling DeFI literacy for millions of young people across the world, and we are super excited to accelerate this revolution."

As Glip continues to grow and dominate the Web3 gaming space, it will provide even more opportunities to developers, Web3 enthusiasts, and gamers alike. We cannot wait to see just how far they can take this in 2023 as they further seize the international P2E gaming market.

SuperOne - The Fandom Metaverse for Entertainment and Sports

SuperOne has the unique vision of bringing together the world's largest sports fandoms in one place. Despite being a $500 billion USD industry, there has still never been a singular digital gathering spot for fans of sports to meet and hang out. With a shared interest and passion for sports, fans are absolutely everywhere.

Yet, without a palace to connect, their excitement cannot be fully concentrated and celebrated. SuperOne acts as that digital space, creating the framework for sports and entertainment fans to hang out and be rewarded for their excitement.

A core part of SuperOne's business model is to introduce a massive network of NFT cards, each of them based on some of the world's most iconic figures in entertainment and sport. Currently, there are over 150,000 NFT cards on their network, 30,000 of which have already been sold on their fan network.

SuperOne also introduces gamification to their sports arena, allowing people to challenge their friends to trivia battles around their favorite topics. Go head to head with friends and share your bragging rights on social media after you snag the victory. With global leaderboards, fans can distinguish themselves as market leaders, winning NFT and cryptocurrency prices for their knowledge.

Recent tweets from SuperOne have documented that there has already been a new round of Battle Royal played on the platform every five minutes. That accounts for over 500 hours of fan battles and has resulted in over 20,000 unique prize winners. This explosive reaction to the platform demonstrates just how excited fans are to get started with this network.

SuperOne is set to revolutionize the fan space, allowing people to connect over their favorite subjects, earn digital rewards for their passion, and find a designated space where their support is celebrated. With all fandoms under one social SuperOne roof, the convergence of many different fan fields creates the perfect economic opportunity for future expansion.

SuperOne has all the markings of a Web3 company that's going to blow up in 2023. Be sure to be around when it does!

Final Thoughts

The world of Web3 is really only just getting started. After a tough 2022, this year is gearing up to be the biggest one yet for blockchain projects. And, by the look of the entries on this list, it's not hard to see why. We've covered companies that are making waves in everything from blockchain architecture to Web3 gaming, demonstrating the innovations that are happening across this entire industry.

If you're looking for Web3 projects to watch this year, these five companies are where you should start. With solid fundamentals, great teams behind each project, and innovations at every turn, these projects are set to have a phenomenal 2023 and beyond.

We can't wait to see exactly what they do!