Web3 Projects to Look Out for In 2023

2022 was a tumultuous year for Web3. Some projects achieved new highs, like the Ethereum network's value exceeding $1 trillion, while others' shady dealings supported anti-Web3 sentiments. For better or worse, more people are aware of key Web3 use cases in DeFi, social media, and beyond.

In the year ahead, developers will take the lessons learned from 2022 to improve the user experience and explore new avenues. Some teams are ahead of the curve, already working to further the decentralization and permissionless ethos of web3. Whether you're a novice or a native to Web3, these are a few projects that will drive the movement forward.

Pay Attention to These Web3 Projects In the New Year

Horizon

2023 will be a better year for gamers. Newer projects will move away from the token-first approach-- which has given current games a bad reputation-- to a gameplay-first approach. Horizon, a video game studio, and blockchain infrastructure company, is leading the way. The team's Sequence platform and smart wallet make building Web3 games easier through features such as Token & NFT APIs, Onramps, a Relayer, and more. Sequence also powers Horizon's popular Web3 trading card game Skyweaver. Players can own, trade, and gift cards. For both gamers and developers, Horizon provides intuitive, immersive, and fun gaming. Hopefully, this will become the new norm.

Mastodon

Mastodon is a decentralized version of Twitter and a great alternative for those fed up with how data is handled by mainstream social media platforms. It's made up of thousands of independent servers, each distinct community formed around a specific topic. How is this better than the ubiquitous, centralized model? Firstly, Mastodon puts the user back in control over their data and privacy. Unlike other social media platforms, it is not held together by one central point of failure, meaning it is more difficult for governments or corporations to censor content. Secondly, each server can be customized with different features and moderation rules, making it easier for users to see content that is relevant to them and avoid toxic behavior on the platform. Through Web3 social media platforms, users can create a healthier online environment.

Intuition

As Web3 continues to expand its use cases and enter the mainstream, reputation systems are becoming increasingly important. Ideally, users should be able to build their reputation on one application and take it with them to another. Intuition is one project that is filling that need and challenging the traditional ideas of identity in the Web3 era. By providing incentives to verify key data points and then using those to create a more holistic view of "who" and "what" somebody is, Intuition allows individuals from all around the world to work together with confidence on an international scale. Projects like these are a key step in establishing trust in the Web3 economy.

Decentraland

Decentraland is a virtual world (Metaverse) platform that allows users to explore, create and interact with amazing 3D scenes. Users can customize their personal spaces and experience a wide range of interactive content, from immersive games to live music events. The platform is powered by Ethereum's blockchain technology, and anyone can purchase unique digital properties through its NFT system.

The team is aiming for Decentraland to become the leading open-world platform for gaming and also for educational experiences and virtual meetings. They believe that Web3 will create a new generation of creators empowered to interact directly without relying on intermediaries or gatekeepers.

Serenade

By connecting physical pressings with unique digital identities, Serenade offers a new model of ownership and sustainability in the music industry. Fans can directly support artists and access rewards and a community of fans. The team also strives to be eco-friendly and opts for NFTs minted by Polygon. They’re proud to say that the carbon footprint of one 12-inch record =197,000 pressings on Serenade.

The innovative platform adds transparency, trust, and more direct communication between artist and fan in a way that hasn’t been done before on this scale. Plus, it’s an alternative to streaming services, which can make it difficult for independent artists to get paid fairly.

Sturdy Finance

The recent FTX collapse emphasized how the core values of DeFi resolve the major problems with TradFi. As more users flock toward decentralization, Sturdy is a protocol to watch. It's the first positive-sum decentralized farming fund. The project specializes in stablecoin lending, allowing users to use LP tokens as collateral and lever up yields 10x. Plus, Sturdy 1.0 was released recently, which includes an extension to the ETH Market where users can now lend and borrow against LSDs for an APY of ~40%. A redesigned UI is also available, improving the experience of both DeFi newcomers and natives. The new Sturdy boosting user yields and provides an intuitive interface-- making DeFi accessible to all.

2023 is here and there are plenty of exciting projects that promise to change how we interact online. From decentralized gaming worlds like Decentraland to platforms like Serenade that allow users direct access to their favorite artists' music, to Sturdy's positive-sum decentralized farming fund, these projects are just the tip of the iceberg. As these projects continue to evolve, they will help create a more secure and dynamic web for everyone. So, get ready for a revolutionary year ahead!