While the primary attraction of cryptocurrencies remains their speculative nature, attracting investors and traders seeking transformative opportunities, blockchain technology’s true value lies in addressing real-world challenges and fostering innovation in a decentralized manner.
In this regard, three startups identified by Finbold are harnessing this technology to create practical tools for practical applications. These companies have recently introduced, announced, or tested their solutions on a large scale, indicating a growing trend towards utility-focused projects.
These three startups are operating their products and systems on the MultiversX (EGLD) blockchain, which has been hailed as the “technological Holy Grail of crypto” by Justin Bons, the founder of Europe’s oldest cryptocurrency fund at CyberCapital.
The EGLD blockchain stands out by being the first to fully implement all three types of sharding, making it the most scalable blockchain thus far while maintaining decentralization and security. This solid foundation provided by MultiversX enables these startups to innovate, develop, and meet market demands effectively.
XOXNO Network Revolutionizing the Ticket Industry
XOXNO Network recently debuted its ticketing Minimum Viable Product (MVP) by supporting the Sense4Fit fitness event on September 7. During the Sense4Fit Summit, which drew over 6,000 participants, only a small fraction were familiar with Web3 technology, with the majority needing to download the XPortal crypto wallet for the first time.
The startup reported a positive response, with over 1,000 tickets scanned within the initial hours of operation.
Build21 Tackling Real Estate Assets
Forbes Romania highlighted Build21, a real estate startup, launching on September 24. Built on blockchain principles and infrastructure, Build21 aims to undertake 21 residential projects in Romania, involving investors, experts, and future residents through blockchain technology. They aim to offer small investors direct access to project profits and voting rights through NFT purchases.
Co-founded by engineer and entrepreneur Adrian Vasilescu and marketing manager Raluca Negrea, Build21 plans to roll out its first investment opportunity in 2025, projecting a 40% return over two to three years.
Globees, the Eco-Friendly Airbnb Rival on MultiversX
Globees, a potential competitor to Airbnb in the hospitality industry, recently launched its first rental listings. The company emphasizes eco-friendly and affordable lodging options as part of its brand. Globees aims to make blockchain technology more accessible to everyday users, bridging the gap between Web3 and the “real world.”
As technological advancements continue, solutions like those introduced by these startups are expected to become increasingly prevalent. Blockchain technology is a transformative force that, when appropriately leveraged with security and decentralization, can serve as a reliable foundation for innovative startups and real-world applications, moving beyond mere speculation.
The article These 3 startups are using blockchain technology and crypto to innovate was originally posted on Finbold.