Opportunities in Web3

India

Don&#39;t be fooled by its youth - Web3 is already shaking things up. It&#39;s not a technology that is &#39;on its way&#39;, but a paradigm shift that is already upon us. Say goodbye to centralized apps and hello to decentralized ones. Here&#39;s just a brief snapshot of some of the decentralized Web3 solutions that are looking to up-end the apps that have become mainstays on our phones and workstations.&nbsp;

Web3 is Already Upon Us: The Old Centralized Apps vs. Decentralized Web3 Apps

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Dubai&rsquo;s dominant streak keeps going as it tops the list of the top 50 most funded startups in the MENA region, with 27, and the country has 30 startups on the list. Of the remaining, 17 hail from Saudi Arabia and Egypt. There are startups from four other countries on the list, including Algeria, Bahrain, Lebanon, and Qatar.

Dominant Cities in MENA Based on the Number of Scaleups in the Top 50 (As of December 2022)

Dominant MENA Cities based on Number of Tech Scaleups

Among the industries that are enjoying an increased investor interest, e-commerce and fintech take up the first and second position in terms of number of companies that have raised above US$1 million through their lifetime.

There are also companies focused on healthcare, education and logistics that are raising funding. Nine foodtech companies have raised close to US$1 billion in total. However majority of that is dominated by Kitopi.

Social networking is also dominated by the funding raised by Telegram. Agtech was also among the ranks, but it was&nbsp;dominated by Advanta Seeds.

Also Read:&nbsp;<a href="https://lucidityinsights.com/articles/exciting-investment-prospects-tech-sectors-set-to-shine-in-2023">Exciting Investment Prospects: Tech Sectors Set to Shine in 2023</a>

Web3 is already upon us

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