Cryptocurrency is a core piece of infrastructure that has opened a new area for entrepreneurs to build better products and services through novel incentives.

The first era of the modern internet was about static pages and infrastructure protocols that were decentralized and governed by the community. Most of the value accrued to the edges of the network: users and builders.

The second era of the internet is an enhanced version of Web 1.0 offering rich usability and monetization opportunities through front-end business applications. Most of the value accrued to a handful of large tech companies (eg. Facebook, YouTube, WordPress).

The third era of the internet — what many call web3 — refers to the alteration of the Web into a puzzle of decentralized open source protocols, which can be owned and governed by end-users. It combines the decentralized, community-governed ethos of the first era with the advanced, modern functionality of the second era. This will unlock a new wave of creativity and entrepreneurship.

The list below includes 17 of the fastest-growing startups in the French web3 space in 2023. This selection was based on being backed by top-tier investors and having significant traction.