Starting from the march of innovations, blockchain-based businesses have been experiencing huge growth. The growing market cap of blockchain technology also witnesses the same. You can see the market value of blockchain with a growth rate of 82.8%. And its value will reach around $1235 billion by 2030. Considering this growth, several investors are keen to invest in blockchain technology. However, many of them may be searching for the Best Blockchain Startup Ideas to invest in. For them, this blog would be a great resource.
If you are a startup, integrating blockchain technology into the business is a great deal. Blockchain helps you keep the business visionary and simplifies usual business practices. Moreover, complete control and security will be there to maintain industry standards. With a grade of transparency and realness, blockchain empowers your business credibility. As a result, your blockchain firm will receive more contributions from users.
When it comes to business, an informed decision is twice as good as a blindfolded choice. So, get complete information about top Blockchain startup ideas in this blog. Without further delay, let us explore this blog from the basics…
What is Blockchain Technology?
Blockchain Technology is a distributed digital ledger that stores information in a transparent and secure network. Each block stores information in a decentralized manner that is unchangeable and secure. The self-executing program called smart contract automates blockchain operations. So, the transactions in the blockchain become quicker, more accurate, and more efficient. That’s why digital assets like cryptocurrencies, NFTs, and more use blockchain technology.
Furthermore, the real-time applications of this inventive technology are rich in enhancing production. As evident to this, many business categories are now using blockchain technology. Some of them are FinTech, real estate, supply chain, healthcare, and more. So as a startup, you have enough space to choose the right Blockchain startup ideas. Let us get more understanding of them in the next section.
Best Blockchain Startup Ideas with Promising Returns
Blockchain keeps the trends and business plans in the same sequence. In this sense, the following are the top Blockchain startup ideas with incredible profit potential.
Blockchain Gaming Platform
The birth of blockchain technology has brought several changes in the gaming industry. The real-time security, asset ownership, and player-centered features add value to blockchain gaming. Some Play-to-Earn (P2E) games allow users to customize and create their avatars. The reliable smart contracts take care of the game practices in a decentralized way. Some popular virtual games for your clarification are Sandbox and Axie Infinity.
Also read: Blockchain Technology in gaming industry
Additionally, blockchain gaming platforms offer greater earnings potential with diverse revenue streams. According to online data, the blockchain gaming value will be $800 billion by 2024. So if you plan for a long-term business, this Blockchain startup idea will be a good choice.
Digital Identity
Digital identity requires a greater level of security, scalability, and authenticity. You can get these qualities with blockchain technology. The digital ledger ensures secure access to your digital identity. An underlying cryptographic method allows for easy identity verification in a safe way. The increasing grade of digital ownership pushes the need for digitalization. A unique smart contract levels up this process with safety and security. Some popular digital identity platforms are Verif-y, uPort, and Bloom.
Payment Services
For payment services, a secure, quicker, and transparent platform is important. A decentralized blockchain approach can help you build an efficient payment platform. So that they can be secure, immutable, quicker, and offer low operational costs. Further, this blockchain integration supports peer-to-peer (P2P) and Business-to-business (B2B) cross-border payments. Thus there is no need for more verifications.
According to a PYMNTS survey, more than 37% of businesses use blockchain B2B payments. So your payment gateway platforms can create financial changes by providing convenient payment services.
Supply Chain Management
The supply chain is a major player contributing to economic freedom. The traditional way has some limitations on accurate tracking, efficiency, and transparency. Blockchain empowers these qualities by allowing easy tracing and stock management. Further, Risk management, inventory management, and record-keeping are added benefits of blockchain integrations.
Considering the more profitable approach, supply chain management becomes an ideal Blockchain startup ideas. The survey report from ‘Markets and Markets Research’ also means the same. The prediction for the global blockchain supply chain revenue will be $3272 million by 2026.
Healthcare Data Management
Like other businesses, the healthcare industry also experiences great possibilities with blockchain integration. You can convert the raw medical records into digital format. Also, storing them in the interoperable blockchain network becomes so easier. Thus, the patient can view and keep their medical records. Along with that, pharmaceuticals can use them for stock management. Additionally, it is easy to share the data for research and clinical trials.
The healthcare sector’s market value is projected to reach $6173 million by 2027. So, your healthcare Blockchain startup idea is quite impressive for investment.
Also Read: Blockchain Technology in Healthcare
AI-Powered Cyber Security
As technologies arise, data security and privacy concerns have become uneasy. Speaking of cyber security, Artificial Intelligence plays a major role in standardizing security checks. Particularly using them in blockchain platforms reduces the response time and manual errors. Further, the automated processes can enhance the platform operations as well. Besides, blockchain security confirms no single point of data breaches and increases confidentiality. That’s why the Internet of Things (IoT) uses AI-powered cyber security.
The increasing AI adoption indicates greater exposure to cyber security Blockchain startup ideas. Their market state records a CARG of 21.9% growth with an expected revenue of $60 million by 2028.
So far, we have seen authentic Blockchain startup ideas that are ideal for startup businesses. Generally, there is a myth that blockchain technology is only for cryptocurrency-related businesses. Indeed, crypto businesses employ blockchain technology and make high returns on investment. Likely, you can also earn with Blockchain startup ideas for crypto business. Here we explore them one by one…
Crypto Exchange
Crypto exchanges are an important part of making transactions with cryptocurrencies. As a startup, you may know the profit capacity of cryptocurrency exchanges. With a CAGR of 16.80% market value, they offer startups a higher Return on Investment. Thus, the crypto exchange business enhances your business possibilities with significant profit. Based on the mode of operations, we can classify crypto exchanges as,
- Centralized exchanges
- Decentralized exchanges
- Hybrid exchanges
Each one has a unique business model and many income streams. So pick the right exchange that matches your Blockchain startup ideas, budget, and profit.
Also read: How to start a crypto Exchange – 10 instant steps
NFT Marketplace
The growing demand for Non-Fungible Tokens pushes the need for ideal NFT trading platform. NFT marketplace satisfies this demand with the advantage of blockchain integration. With a variety of content and easy accessibility, these marketplaces ensure user satisfaction. Since NFTs use decentralized processes, fractional ownership, and integration become easy and convenient. Smart contracts further confirm intellectual property protection for collectibles. As a result, the NFT marketplace platform has improved performance.
With room for earnings potential, the value of the NFT marketplace will reach $2378 million by 2024. This statistical data is enough to signify them as the best Blockchain startup ideas.
Crypto Crypto Crowdfunding
When getting into any business, the major barrier for startups is initial investment. Crypto crowdfunding eliminates this via simple and effective fundraising methods. Anyone who wants an initial investment can create a crypto crowdfunding platform. The most prominent crowdfunding methods to note here are,
- ICO (Initial Coin Offering)
- STO (Security Token Offering)
- IEO (Initial Exchange Offering)
Speaking further, many crypto firms realize their Blockchain startup ideas through crypto crowdfunding. For example, the major blockchain Ethereum also collected funds through ICO. Likewise, you can create a crypto fundraising platform for fundraising needs. Also, the crowdfunding platform can be used for business purposes. Through that, you can make great profits through commissions.
Crypto Token Development
As you know, crypto tokens serve various business operations. With diverse applications crypto token development offers more benefits to startup businesses. Further, their upgrades and cost-effectiveness make them ideal Blockchain startup ideas. For example, you can see the Ethereum Improvement Proposals (EIPs). Most of them signify the demand for token creation. But, keep your view clear on token creation.
Based on the type of usage, crypto tokens are generally classified as fungible and non-fungible tokens (NFTs). Further, we can classify them depending upon the service category as,
- Utility tokens – Offer services and allow for access
- Security tokens – Represent ownership rights of real-time asset
- Governance tokens – Provides decision-making rights
- Reward token – Used for platform rewards or loyalty
- Asset tokens – Represent real-world assets
Each token serves various functions depending on the business requirements. So, choose the right token based on your Blockchain startup ideas and needs.
Also Read: How to Create Crypto token?
After having an overview of Blockchain startup ideas, you may now be ready to choose the right one. Yet, to get the best results, integrating appropriate blockchain technology becomes essential. But how to choose the best business idea might be your next question. Here we explore…
Factors that help to Choose the right Blockchain Startup Ideas
As a startup, you might find it difficult to choose the right business idea. To be frank, it is simple if you consider certain factors. Here we have a complete assessment of factors…
Types of Blockchain
As you know, blockchain has different types such as public, private, and hybrid. Public blockchains are permissionless and private blockchains are Permissioned. That means the way of accessibility will vary here. So make sure the chosen blockchain matches your Blockchain startup ideas.
Blockchain Functionality
The performance and business scope will rely on the blockchain’s core functionality. Hence consider the transaction speed (TPS), cost, throughput, programming language, and development possibility.
Platform Security Measures
Most blockchain-based businesses are dealing with sensitive information. So it is necessary to check the security protocols, encryption, and infrastructure of your business platform.
Scalability
Every one of us has distinct blockchain startup ideas and selections. But make sure your business platform is scalable for top-notch performance. Platforms built with Polygon and Solana blockchains offer better scalability.
Adoption Rate
The blockchain business having a higher adoption rate results in more business exposure. Consider the growth and prominence of the business idea you have chosen to invest in.
Upgrades and Support
To keep your blockchain business meet user satisfaction, upgrades, and guidance is essential. The right blockchain with attractive features can support your business trials. Hence seek professional assistance from a reputed blockchain development company.
So with these guiding factors, you can choose the right blockchain business ideas for your startup. Yet, some technical requirements like security and protocol implementations need professional support. As a prominent Blockchain Development Company, ZAB Technologies has a vibrant team of experts. We follow quality-driven development strategies to meet the expectations of Blockchain startup ideas.
Right now, the need for blockchain technology is at a high peak. Like the saying, ‘make hay while the sunshine’, this is the right time to begin the business endeavors. As a startup, you might be curious about the enterprise’s future. In this sense, reading the following section may clear your concerns.
The Future of Blockchain – A Brief Overview
Since its inception, blockchain has been revolutionizing the way of doing business. They help startups to create value for their Blockchain startup ideas, whereas the time-consuming strategies are useless. The transformation grows well to the next level while blockchain technology is maturing. Recording gradual progress via NFT, DeFi, and Metaverse, blockchain powers major industries. For example, you can consider the cryptocurrency market whose value is around $2 trillion.
The research related to blockchain still needs to be mature. The ongoing research will establish a better scope for business inventions. So the future will bring more demands, upgrades, and applications. Thus, adopting Blockchain startup ideas will be a great decision for startups. So leave your concerns away and start working towards your dream business with us.
ZAB Technologies – An Ideal Blockchain Development Partner
With more than 6+ years of industry experience, ZAB Technologies excels in providing blockchain development solutions. We have a professional team of experts whose skill sets are evident in creating various blockchain projects. By applying the required technology stacks we help you meet the efficient blockchain development. With a client-friendly development strategy, we reach technical capabilities under your financial constraints. Our successful portfolio recognizes the thriving journey of many startups we serve. From blockchain development to clone scripts, we provide comprehensive and cost-effective solutions for all your development needs. So shake your hands with us! Let us together give life to your Blockchain startup ideas!
