Tech Desk 
Jul 12, 2024
The entire world finds itself under the grips of the crypto market. Recognising the need to create a safer environment, several countries have begun introducing regulations.
The Blockchain Startup Accelerator Alliance reports that across North America, Europe, and Asia, countries that have implemented these regulations have seen an increase in the density of Web3 startups.
This surge is set to create a more engaging crypto environment and offer significant employment opportunities for those in the space.
Europe has been the most forthcoming in this regard, launching the MICA framework to improve transparency in the sector.
Asian countries like India, South Korea, and Japan have also expressed eagerness to take action. In North America, pro-crypto bastions like El Salvador are attracting startups.
“Overall, North America, Europe, and Asia continue to be the big three, with each region contributing 1/4 to 1/3 of all startups,” the Alliance said in its report.
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“In H1 2024, we saw the lowest percentage ever of startups from the US and Canada. This is likely due to regulatory uncertainty in the US and crypto gaining real-world adoption in emerging markets,” the report noted.
Additionally, Web3 projects exploring Decentralised Finance (DeFi) are growing despite “little public excitement.”
The report revealed that Web3 projects are rapidly exploring use cases in social, payments, and decentralised autonomous organisations (DAOs).
The findings show that 30% of Web3 startup founders were formerly employed in big-tech companies, particularly those in the S&P500 group.
Furthermore, 1/10 founders were found to have prior entrepreneurship experience, indicating that tech professionals looking to venture into entrepreneurship are eager to explore opportunities in Web3.
“Among startups with two or more co-founders, about half split their equity equally, and half split unequally. Close to 3/4 of startups work fully remotely,” the report noted.
