According to a report from Grand View Research, the market cap of the Web3 niche will reach $33.53 bn by 2030 at a CAGR of 47.1%.
Web3 is an emerging technology that could be incorporated into any niche like banking, sports, finance, etc., for effective business operations and to help users unlock various revenue sources.
In addition, the amalgamation of metaverse technology and web3 will result in a considerable increase in the above figure & the web3 market will expand beyond its functioning niche.
The applications of Web3 are manifold, and the associated business ideas can be expanded to any industry with brainstorming sessions.
NFT Business Ideas are manifold, and entrepreneurs or startups should select a suitable business concept based on their capital and market.
Some popular NFT Business Ideas are a Decentralized NFT marketplace, BaaS (Blockchain as a Service), DeFi, Web3-based social platform, DeFi applications, Web3-metaverse platform, etc.