10 Innovative Blockchain Startup Ideas to Watch in 2023

blockchain startup

Blockchain technology is gaining significant traction in the new digital economy. There’s a growing demand for cryptocurrency, and there are more than 200 crypto exchanges around the world today. In this article, we’ll list down some blockchain-based startups worth watching out for in 2023. We’ve gone through a list of many up-and-coming companies, but there are a few startups we think you should look out for. Before we get to that part, let’s look at some interesting ideas for blockchain technology beyond money transfer.

Key Takeaways

  • Chainalysis is a leading blockchain analysis company providing data and analysis to government agencies, exchanges, and financial institutions.
  • ConsenSys is a blockchain software technology company that develops decentralized software services and applications.
  • BlockFi offers financial products to crypto investors, including interest-earning accounts and low-cost credit products.
  • OpenSea is the largest marketplace for non-fungible tokens (NFTs), allowing users to buy, sell, and trade NFTs.
  • Alchemy provides a platform for blockchain developers to build and scale decentralized applications with ease.

1. Chainalysis

Chainalysis is a pioneering platform that equips banks, government agencies, and other blockchain ecosystem participants with essential tools to identify and eliminate hacked or stolen funds. Their anti-money-laundering software is designed to foster safer interactions within the blockchain space.

Key Information:

  • Location: New York, New York
  • Founders: Jan Moller, Jonathan Levin, Michael Gronager
  • Founded In: 2014
  • Funding: Series F, $536.6 Million
  • Investors Include: Accel, Dragoneer Investment Group, Blackstone Group

Chainalysis offers blockchain analysis software and data services to detect and investigate illicit activities involving cryptocurrencies. Their tools are capable of tracking transactions, mapping wallets, and identifying high-risk exchanges.

Chainalysis aims to build trust in blockchains by providing compliance, government, and financial institutions with transparency into suspicious on-chain activity. Their crypto forensics support safer adoption.

2. ConsenSys

ConsenSys is a pioneering blockchain technology company that has been at the forefront of the industry since its inception. Founded in 2014 by Joseph Lubin, one of the co-founders of Ethereum, ConsenSys has played a crucial role in the development and adoption of blockchain technology.

ConsenSys offers a wide range of products and services aimed at empowering developers, enterprises, and individuals to build and deploy decentralized applications (dApps). Some of their notable products include MetaMask, a popular cryptocurrency wallet and gateway to blockchain apps, and Infura, a scalable blockchain infrastructure service.

Key Offerings

  • MetaMask: A widely-used cryptocurrency wallet and gateway to blockchain applications.
  • Infura: Provides scalable blockchain infrastructure services.
  • Codefi: A suite of applications for commerce and finance built to optimize workflows and digitize financial instruments.
  • Quorum: An open-source protocol layer that enhances Ethereum to support enterprise needs.

Impact on the Blockchain Ecosystem

ConsenSys has significantly contributed to the growth and adoption of blockchain technology. Their tools and platforms have enabled developers to create innovative solutions across various industries, including finance, supply chain, and healthcare.

ConsenSys continues to drive innovation in the blockchain space, making it a key player to watch in 2023.

Future Prospects

With ongoing advancements and a strong focus on decentralized applications, ConsenSys is well-positioned to lead the next wave of blockchain innovation. Their commitment to enhancing security, scalability, and usability ensures they remain a pivotal force in the industry.

3. BlockFi

BlockFi is a crypto investment and blockchain wealth management platform that enables its customers to invest in cryptocurrency, digital assets, consumer lending products, and other products related to the crypto-asset ecosystem. Their primary mission is to provide their customers with transparency, an efficient platform they can transact on, and liquidity.

Founded in 2017, BlockFi offers buying, earning interest, trading, borrowing, and lending for major cryptocurrencies like Bitcoin, Ethereum, and stablecoins. Their suite provides a one-stop shop for managing blockchain assets.

BlockFi aims to bridge the worlds of traditional finance and crypto investing. Features like automated trading, interest-bearing accounts, and loans bring familiar services to digital asset management.

In the latest BlockFi news, crypto startups see surge in VC funding, raising $2.52B in Q1 2024, driven by favorable regulations, DeFi demand, and the crypto-AI intersection.

4. OpenSea

OpenSea is one of the most exciting blockchain startups to watch in 2023. As a leading decentralized marketplace for non-fungible tokens (NFTs), OpenSea has revolutionized the way digital assets are bought, sold, and traded. The platform supports a wide range of digital collectibles, including art, domain names, virtual worlds, and more.

Key Features

  • User-Friendly Interface: OpenSea offers an intuitive and easy-to-navigate platform, making it accessible for both beginners and experienced users.
  • Wide Range of Assets: From digital art to virtual real estate, OpenSea supports a diverse array of NFTs.
  • Decentralized Transactions: All transactions on OpenSea are conducted on the blockchain, ensuring transparency and security.
  • Community-Driven: OpenSea thrives on a thriving blockchain startup ecosystem where users can create, buy, and sell NFTs.

Funding and Growth

OpenSea has seen significant growth since its inception. The platform has raised substantial funding to expand its offerings and improve user experience. This growth is a testament to the increasing interest and investment in the NFT space.

OpenSea is poised for significant impact in 2023, continuing to lead the way in the NFT marketplace and setting new standards for digital asset trading.

Future Prospects

With the NFT market showing no signs of slowing down, OpenSea is well-positioned to capitalize on this trend. The platform’s commitment to innovation and user satisfaction will likely drive its continued success in the coming years.

5. Alchemy

blockchain technology illustration

Alchemy is a leading blockchain development platform that provides developers with the tools they need to build reliable and scalable decentralized applications. The platform offers a suite of products designed to simplify the development process, including APIs, node infrastructure, and monitoring tools. Alchemy’s mission is to empower developers and businesses to create the future of blockchain technology.

Key Features

  • APIs: Alchemy offers a range of APIs that make it easier for developers to interact with blockchain networks.
  • Node Infrastructure: The platform provides robust node infrastructure, ensuring high availability and performance.
  • Monitoring Tools: Alchemy includes advanced monitoring tools to help developers track the performance and health of their applications.

Recent Developments

Alchemy is partnering with Worldcoin to provide important infrastructure and developer growth for World Chain, a new blockchain designed for humans. This partnership aims to accelerate the adoption of blockchain technology and foster a decentralized future.

Alchemy’s commitment to innovation and developer support makes it a standout in the blockchain space, driving the industry forward with its comprehensive suite of tools and services.

6. Dapper Labs

Dapper Labs is a pioneering force in the blockchain industry, known for creating some of the most popular blockchain-based games and applications. Founded in 2018, this innovative startup has made significant strides in bringing blockchain technology to the mainstream.

Key Achievements

  • NBA Top Shot: One of the most successful blockchain applications, allowing users to buy, sell, and trade officially licensed NBA collectible highlights.
  • CryptoKitties: A groundbreaking game that introduced many to the concept of digital collectibles and blockchain gaming.

Funding and Growth

Dapper Labs has secured substantial funding to fuel its growth and innovation. The company has raised over $350 million in various funding rounds, attracting investments from notable firms such as Andreessen Horowitz, Google Ventures, and Samsung.

Future Prospects

With its strong track record and continuous innovation, Dapper Labs is poised to remain a leader in the blockchain space. The company’s focus on creating user-friendly and engaging blockchain experiences sets it apart from other startups.

Dapper Labs stands out as one of the top 10 best blockchain startups to watch in 2023 due to its innovative solutions and impressive funding details.

7. Bitwise

Bitwise is a pioneering company in the blockchain space, focusing on providing crypto exposure to traditional financial markets. They aim to bridge the gap between the burgeoning world of digital assets and the established financial advisory industry.

Key Offerings

  • Crypto Index Funds: Bitwise offers a range of index funds that allow investors to gain diversified exposure to the crypto market without the need to directly purchase and manage individual cryptocurrencies.
  • Research and Insights: The company provides in-depth research and insights into the crypto market, helping investors make informed decisions.
  • Regulatory Advocacy: Bitwise is actively involved in advocating for better regulatory frameworks to facilitate greater adoption of crypto assets in traditional finance.

Market Impact

Bitwise’s innovative approach has the potential to unlock significant value in the financial advisory sector. According to Bitwise executive Matt Hougan, crypto could see greater exposure to the $20 trillion U.S. financial advisory industry if there were better regulatory measures in place.

Bitwise is not just another crypto company; it’s a bridge to a more integrated financial future.

Future Prospects

With ongoing advancements and a focus on regulatory improvements, Bitwise is well-positioned to play a crucial role in the mainstream adoption of crypto assets. Their efforts could pave the way for a more inclusive and diversified financial ecosystem.

8. Anchorage

Anchorage Digital, founded in 2017, isn’t your typical cryptocurrency exchange or blockchain startup. Instead, it focuses on providing secure crypto custody solutions for institutional investors. Anchorage has set itself apart by offering a comprehensive suite of services, including trading, staking, and governance.

Key Features

  • Secure Custody: Anchorage provides top-notch security for digital assets, ensuring they are safe from cyber threats.
  • Trading Services: The platform offers seamless trading options for various cryptocurrencies.
  • Staking and Governance: Anchorage supports staking for multiple assets, allowing institutions to participate in network governance.

Recent Developments

Anchorage has been making headlines with its innovative approach to crypto custody. Recently, the company raised $80 million in a Series C funding round, which will be used to expand its services and enhance its security measures.

Anchorage Digital is revolutionizing the way institutional investors interact with digital assets, making it a key player in the blockchain space.

9. Fireblocks

Fireblocks is a blockchain startup based in New York, New York, founded in 2018 by Idan Ofrat, Michael Shaulov, and Pavel Berengoltz. The company has secured Series E funding of $1 billion, with investors including Spark Capital and D1 Capital Partners. Fireblocks specializes in providing security services for issuing, storing, and transferring digital assets, simplifying the process for over 1,300 organizations involved in trading, brokerage, exchange, lending, banking, and payments services. The startup’s innovative approach to digital asset security sets it apart in the blockchain industry, offering a reliable solution for organizations seeking secure and efficient asset management.

10. Sorare

Founded in 2018, Sorare issues officially licensed digital player cards of pros across top leagues as non-fungible tokens (NFTs) on the Ethereum blockchain. Users build fantasy teams and compete in tournaments to earn rewards.

Key Features

  • Official Licensing: Partnerships with major leagues and players associations provide official licensing.
  • Fantasy Sports Model: Users can create fantasy teams and participate in tournaments.
  • Collector Appeal: Rare cards have trading value, adding a collector appeal to the fantasy sports model.

Sorare’s inherent gamification and status make its projects virally popular.


The blockchain startup scene is teeming with potential, offering a wide range of innovative solutions that extend beyond traditional financial applications. These ten startups represent just a glimpse of the transformative power of blockchain technology. As the industry continues to evolve, the future promises to be an exciting and promising one. Keep an eye on these companies as they continue to innovate and shape the future of the digital economy.

Frequently Asked Questions

What is blockchain technology?

Blockchain technology is a decentralized digital ledger that records transactions across multiple computers so that the record cannot be altered retroactively without the alteration of all subsequent blocks and the consensus of the network.

Why should I watch blockchain startups in 2023?

Blockchain startups are at the forefront of technological innovation, offering solutions that can transform various industries, from finance to supply chain management. Watching these startups can provide insights into future trends and investment opportunities.

What is Chainalysis?

Chainalysis is a blockchain analysis company that provides data and analysis to government agencies, exchanges, and financial institutions to help them understand and combat illicit activity on the blockchain.

How does OpenSea utilize blockchain technology?

OpenSea is a marketplace for non-fungible tokens (NFTs) that uses blockchain technology to verify the ownership and provenance of digital assets, making it easier for artists and collectors to buy, sell, and trade NFTs.

What makes Alchemy a notable blockchain startup?

Alchemy provides a platform for developers to build and scale decentralized applications (dApps) with ease. Their tools and infrastructure help developers create more efficient and scalable blockchain solutions.

Are blockchain startups only focused on cryptocurrencies?

No, blockchain startups are not limited to cryptocurrencies. They are exploring a wide range of applications, including supply chain management, data security, digital identity verification, and more.


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