How Entrepreneur First is supporting the web3 ecosystem

Posted: 18 February, 2022
Woman in an office speaking to a group of people 

web3 is growing at breakneck speed, capturing the interests of everyone from teenagers in their bedrooms to seasoned venture capitalists.

At Entrepreneur First, we’re looking for talented, ambitious people in the first few years of their careers. Across our global sites, we’ve backed web3 founders building on multiple blockchain protocols, and we’re excited about the potential impact of web3 across every sphere of human activity. 

Here’s a list of Web 3.0 startups that have come out of EF so far:


AZTEC Network

Founded in 2017, AZTEC Network is making it affordable and safe to transact on Ethereum without compromising your privacy. Its first product, a private transfer protocol, has amassed more than 20,000 registered users, enabling 50,000 transactions to date. Its next product is Aztec Connect, a private bridge that allows users to confidentially access DeFi services on Ethereum with up to 100x cost savings. 

In December 2021, they closed its US$17 million Series A led by Paradigm.


Founded in 2020, the startup is developing a compute protocol for machine learning and deep learning models to train in a cost-efficient way at an unprecedented scale. 

The Gensyn co-founding team


Founded in 2020, Zest helps create and manage Investment DAOs (Decentralised Autonomous Organisations), backed by a real-world LLC. They’re a full-suite concierge, offering DAO tooling alongside back-office and compliance support. Zest removes the inherent complexities surrounding Investment DAOs so ​members can form a global community that compliantly coordinates capital to maximise investment opportunities together.

In 2021, they raised US$1 million from over a dozen investors like Borderless Capital, Avalanche VC, Allegro Capital, and angels from Eterna Capital and Fin VC amongst others.


Founded in 2021, the startup is a NFT discovery engine and social media platform for Web 3.


Founded in 2021, Voltz is building a decentralised protocol that brings interest rate swaps to the world of decentralised finance. Their automated market maker (AMM) enables investors to access attractive fixed rates of returns, while giving Liquidity Providers control and flexibility over their position in a way that’s 3000X more capital efficient than existing models. 

In December 2021, they raised a US$6 million Framework Ventures-led seed round. 



Founded in 2018, the startup is the first MAS-licenced digital asset custodian that connects traditional and decentralised finance. Protect, Propine’s one-stop custody solution, supports all digitals assets for the DeFi ecosystem. Propine’s DASH and PropSS products convert real-world assets into tokens. 

Merkle Science 

Founded in 2018, Merkle Science is the next-generation predictive cryptocurrency risk and intelligence platform that helps crypto companies, financial institutions, and government entities detect, investigate, and prevent illegal activities involving cryptocurrencies. Compared to other blockchain analytics tools, Merkle Science helps identify and address on-chain risks beyond just traditional address databases using its behavioural rule engine to fulfil local regulatory obligations. 

They are backed by Susquehanna, Digital Currency Group, Kenetic, Fenbushi, Kraken Ventures, and Uncorrelated Ventures as investors. Its founders and core team come from Luno, Paypal, the US Department of Justice, and FBI. The startup has since moved its headquarters to New York. 


Founded in 2021, the startup is an AI Trading Signal platform that makes DeFi accessible to individuals & institutions with 1-click automated investments and profit-optimised yield farming on Solana and Terra.

In December 2021, Hawksight clinched US$4.20 million from an oversubscribed strategic token round backed by Solana Ventures and Terraform Labs. 

Bluejay Finance

Founded in 2021, Bluejay Finance is designing the first Asia-focused capital-efficient protocol for multi-currency stablecoins. It seeks to accelerate financial inclusion and access to decentralised finance for all users and businesses through creating FX primitives on the blockchain.

The Bluejay co-founding team



Founded in 2020, the startup is building a no-code platform to empower creators to access frictionless tools to create 3D animated content and monetise through NFTs.



Founded in 2019, Donut enables users to earn more than 2% in interest yield as compared to traditional savings accounts by accessing decentralised finance yields. 

In June 2021, the mobile app startup closed US$2 million in a new funding round. 

Donut CEO Neel Popat pitching at Demo Day



Founded in 2021, the startup is decrypting crypto for millennial investors through social and assisted investing. Their minimum viable product yielded 67% of novice investors making their first crypto investments on their platform and it has also secured a partnership with one of India’s largest crypto exchanges.



Founded in 2021, Metacommerce is a dApp that empowers non-technical Web 3.0 creators to deploy and manage their own NFT experience without writing a single line of code. To date, creators have sold more than US$10m via Metacommerce minting solutions. 

Trust Chain Global

Founded in 2021, the startup is a workflow management technology and transactional platform that utilises Web 3.0 and blockchain technology to enable transparent, fast, and secure large-scale commodity trading. 

In January 2022, they closed a seed round from N49P, a Toronto-based Venture Capital. 


Excited to buidl?  If you’re someone who has contributed to web3 projects already, or you could have a technical, educational, or commercial background in a related field and a clear conviction to make the jump to web3, apply now.