8 crypto startups that made an impact in 2022

It’s no secret that 2022 presented turbulent times for the crypto market. Despite that, there are crypto startups that have endured the storm, proving their persistence and strength. This is a time to build and new projects continue to forge their own path.

Crypto startups are striving to make the world more decentralized by providing unique solutions to everyday problems, even beyond the traditional crypto ecosystem. They are developing new technologies that are touching all sorts of industries, including DeFi, gaming, art, sports, and more.

But what makes a crypto startup successful in 2022? We selected these startups for continuous innovation, their loyal communities, and the team behind each project. A decentralized future is just around the corner especially when we have these startups to keep an eye on.

1. IOTA (IOTA) IOTA is an open-source distributed ledger technology (DLT) and what some people call a “blockchainless” blockchain. Its mission is to support the research and development of new Web3 applications and digital economies that have a real, positive effect on people’s lives.

The organization was selected as a finalist to build Europe-wide blockchain infrastructure as part of the European Blockchain Services Infrastructure (EBSI) competition. In each one of IOTA’s projects, it provides the core DLT necessary to enable instantaneous, feeless, and highly scalable micro-transactions that bring IoT to life. As for its token, you may remember its ginormous spike back in 2017. IOTA proved then that it can withstand a bear market, and is one of the oldest tokens around to survive a few bear markets already.

Most recently, IOTA launched its Shimmer network, IOTA’s incentivized staging network with a native token $SMR. This huge step forward will ensure major network upgrades are publicly validated and thoroughly tested through the right token incentives. Since its launch, it has surpassed 200,000 active addresses, over 40,000 minted NFTs, and almost 600 created tokens. Next on the roadmap is the release of the ShimmerEVM chain. IOTA isn’t slowing down anytime soon as it continues to drive its technology forward to bring the value of decentralized technologies to the masses. 

2. Zilliqa (ZIL)

Founded in 2017, Zilliqa is a high-performance, high-security, and low-fee Layer 1 blockchain protocol company that helps people connect, engage, and transact in the digital world. It is bringing decentralized applications (dApps) to the mainstream market by enabling developers to build secure, fast, and cost-effective solutions across all sorts of industries.

The startup is known for being the first public blockchain to be built on a shared architecture due to its own programming language called Scilla. This enables Zilliqa to tackle the ongoing problem that blockchains face – scalability.

Currently, over 190 partnerships already utilize Zilliqa’s ecosystem, spanning various industries. Zilliqa hit huge success with the launch of its metaverse-as-a-service platform, Metapolis, earlier in 2022 and has since become a force to be reckoned with in the creator economy. 

Gaming is another industry the Zilliqa team has tackled head-on by taking Web3 gaming forward by leaps and bounds. Zilliqa has announced its first Web3 first-person shooter (FPS) game, WEB3WAR, as well as a unique gaming console with Web3 capabilities. This is just the beginning for Zilliqa in gaming, as the company has already announced plans to continue its expansion into the blockchain gaming industry with eight more games currently in the works.

3. Koinos (KOIN)

Koinos Group was founded in 2020 and is led by the team of blockchain veterans that were behind the Steem blockchain. The startup most recently announced the launch of the Koinos blockchain mainnet, which will utilize a Proof-of-Burn consensus algorithm to make it more efficient, fair, and decentralized than other blockchains. The free-to-use blockchain network has free accounts, free transfers, free smart contracts, and universal programming language support. It will enable developers to create free-to-use decentralized applications (dApps) using any programming language, lowering the barriers to entry for innovation. This makes it easier and faster to launch high-performance applications with user experiences on par with Web2 applications. Koinos has been decentralized from day one and seeks to make blockchain technology accessible to all.

The company has garnered lots of media attention through its ethos of building a blockchain without the influence of VC funding while eliminating barriers for users. It’s a startup that’s bringing decentralized services to the masses, and that’s something we can get behind. Fun fact: True to their revolutionary nature, Koinos Group launched its mainnet on November 5, Guy Fawkes Day.

4. CROWN PROJECT

Historically the entertainment industry has had a linear way of creating and distributing content. This top-down approach has eliminated the voice of the fans and cripples studios that only know what the consumers want after millions have been spent on production. The CROWN Token Project challenges entertainment’s business model by tokenizing intellectual property rights and allowing token holders to decide the creative design of upcoming multi-million dollar animation films. By bridging IPs with blockchain technology it enhances the value for its token owners as well as the community behind the film projects. Not only will the audience play an integral role in the direction of each project, voting on the film's core concepts, but they gain exposure to the fast-growing sectors of intellectual properties, NFTs, and the metaverse.

Along with bringing the audience in to play part in the creative design of films, CROWN also incentivizes token holders with staking opportunities and stable coin rewards. Its long-term plans include its own marketplace where other up-and-coming filmmakers and artists can use their platform to buy, trade, and sell their own digital assets. We’ll be keeping a close eye on this startup!

5. Ava Labs (AVAX)

While Ava Labs has been around since 2018, it only launched its blockchain, Avalanche, in 2020. Ava Labs makes it simple to launch decentralized finance (DeFi) applications on Avalanche because the blockchain is a highly scalable platform for dApps and enterprise blockchain deployments. Since its launch, it has secured some huge accomplishments. Avalanche, whose native token is AVAX, claims to be the fastest smart contracts platform in the blockchain industry, as measured by time-to-finality. It is fast, low-cost, and eco-friendly. Talk circulating in the media claims it has the potential to one day scale even better than Ethereum. Avalanche is a community-driven platform with a strong following across all its social media channels. Its Twitter account has gained over 821K followers along with loyal members across its Telegram and Discord channels. Ava Labs has a vision of empowering people to build an open, simple, and democratic internet of finance. The startup has already made a huge impact and is taking the necessary steps forward to set itself apart in the industry.

6. NotCommon

In 2022, NotCommon founders Michael Pierce and Giulio Chiarenza had a friend that had her NFT collection stolen by interacting with a spammy airdrop. This unfortunate moment sparked their realization that there is a gap in educating Web3 users on best practices while browsing and collecting NFTs, potentially limiting adoption and creativity within the space. 

Backed by $1.5M in funding, NotCommon has combined cross-chain NFT galleries with high-level security, offering a one-stop shop for artists and collectors to trade and exhibit work. With a concentration on security, safety, and identity protection, NotCommon aims to bring peace of mind to the NFT space and usher in a new era of digital creativity. These new kids on the block are committed to making NFTs accessible to all.

7. Entity

Entity, the growth engine for Web3 builders and investors launched in 2022 on MultiversX (previously known as the Elrond Network [EGLD]), is Europe’s first carbon-negative blockchain. The project was developed by Istari Vision, MultiversX's key partner and full-service provider for projects, and Titan Stake, one of the most active staking service providers in the MultiversX community. Entity aims to offer builders and investors a centralized hub to stay on top of the blockchain’s latest updates.

The Entity Launchpad incubates high-potential Web3 companies and gives investors early access to projects building on MultiversX, allowing them to find blockchain projects at an early stage and make informed investment decisions. Working in harmony with the Launchpad is a suite of tools that allows users to access data on the MultiversX that is not available anywhere else. Startups and investors can benefit from the Project Monitor which offers valuable insights on how to improve your business, analyze competition, and identify potential partners. Entity plans to roll out additional tools to help investors and startups alike discover, invest, and earn.

8. Trivians (TRIVIA)

Founded in 2022, Trivians is a crypto-powered trivia gaming platform that lets trivia buffs monetize their knowledge. The platform combines native play-and-earn gaming, trivia competitions, and rewards in Web3 and has already amassed over 300,000 players since it started testing the app just three months ago. 

Trivians recognized a lack of game depth in Web3 and has worked to fill this gap with its endless games and topics that take the form of live broadcasts, single-player and multiplayer, instant play, and scheduled tournaments and competitions. By removing the barriers to entry, players can enter free-to-play games and earn Trivian tokens for every correct answer. There are more than 150,000 informational questions in its archive, which is enriched daily. The platform is an official partner of BNB Chain and already has $2.5M USD in investment backing from Teknasyon and Onedio, the 35th biggest news site in Turkey with over 39M UMVs. Its unique take on tokenization is fun and educational and is something we look forward to seeing more of in the future.

Paving the way toward a decentralized future

Arguably, the past year for crypto startups has been the most difficult one yet. FTX imploded, Solano wallets got hacked, the TerraUSD stable coin collapsed, and the bear market has no end in sight. With all the scandals going on around us, we cannot forget to shine a light on the positive things that companies in the space are achieving on a daily basis. 

When challenging times arise, how a company endures says a lot about them. These crypto startups represent more than just a token to purchase, and the technologies behind them are proving to have a significant impact on multiple industries. Each one of these startups we selected – whether established or brand new – all share the vision of creating a decentralized future, whatever that may ultimately look like.