Web3 of the New Generation: 2024’s Defining Projects

From seamless payments to investment-grade government bonds – revolutionary changes have swept across the entire industry. Behind these innovations are groundbreaking projects that have transformed Web3, making it accessible to the masses.

Evaluating the Standouts

To provide a comprehensive analysis, we've developed a rigorous evaluation framework focused on five key criteria:

• Innovative Potential: The uniqueness of the solution and its impact on the industry's evolution. 
• Practical Application: The real-world problem-solving capabilities and user convenience.
• Mass Adoption Impact: The accessibility and approachability for new cryptocurrency users.
• Technical Robustness: The reliability, security, and scalability of the underlying technology. 
• Growth Prospects: The potential for continued development and expansion.

Each factor is scored on a 4-point scale, providing a holistic assessment of the projects.

Ondo Finance: Tokenized Bonds in Your Crypto Wallet

While many Web3 projects promise to tokenize everything from real estate to art, Ondo Finance has taken a different approach. They're focused on bringing traditional financial instruments – like government bonds – directly into the hands of crypto users.

How Ondo Finance’s home page looks like. Source: ondo.finance

Observing the project's development over the past year, we've noticed an interesting trend – people have grown tired of speculative investments and are seeking more reliable options. Ondo recognized this and has offered access to US government bonds through the blockchain. It may not sound as thrilling as the latest “token with astronomical yields,” but it's precisely these types of projects that are bringing cryptocurrencies closer to the real world.

It's intriguing to consider what this could mean for Ukraine. When the world's largest financial market demonstrates a way to legally tokenize government bonds, it sets an important precedent. Imagine if a similar system were to emerge for Ukrainian government bonds (OVDP) – it could significantly simplify access to government securities for regular users.

Evaluation Methodology:

• Innovative Potential: 4/4 (revolutionary approach to tokenizing traditional assets)
• Practical Application: 3/4 (real opportunity to generate passive income)
• Impact on Mass Adoption: 1/4 (still requires understanding of financial instruments)
• Technical Complexity: 4/4 (integration with traditional financial systems)
• Scalability Potential: 4/4 (ability to tokenize various asset types)

The $600 million in raised funds within a few months speaks for itself – the market is ready for serious financial instruments in the industry. And although Ondo is currently only available to accredited investors, the mere fact that government bonds can be purchased through the blockchain is already a significant step forward.

WhiteBIT x Visa: A Revolution in Crypto Payments

Integrating cryptocurrencies into everyday financial operations has always been one of the industry's biggest challenges. However, the solution didn't take long to arrive: WhiteBIT, in collaboration with Visa, introduced the WhiteBIT Nova debit card in the European market, combining the functionality of traditional payment cards with the capabilities of cryptocurrency transactions.

Visualization of the physical card WhiteBIT Nova. Source: whitebit.com

The main advantage of this solution is the simplification of daily digital asset usage. Users can make purchases directly from their crypto wallets, and the integration with Apple Pay makes the process extremely convenient.

It's also worth highlighting the generous cashback program (up to 10%). Essentially, every coffee purchase or taxi payment automatically becomes an investment in cryptocurrency. In a world where most people don't know how to start investing in crypto, this looks like a practical solution.

Evaluation Methodology:

• Innovative Potential: 3/4 (combination of traditional financial instruments with cryptocurrency capabilities)
• Practical Application: 4/4 (direct use in everyday transactions)
• Impact on Mass Adoption: 3/4 (lowers the entry barrier thanks to a familiar format)
• Technical Complexity: 3/4 (ensuring transaction security and speed)
• Scalability Potential: 2/4 (currently available in the EU)

In summary, it's projects like these that are another step towards a future where the use of digital assets becomes as commonplace as traditional banking services.

Polymarket: When Forecasts Become Transparent

Prediction markets have evolved significantly in 2024 thanks to blockchain technology. Polymarket was one of the first projects to demonstrate how decentralization can transform traditional betting into a transparent collective forecasting tool.

How Polymarket’s home page looks like. Source: polymarket.com

Unlike classic bookmaker platforms, Polymarket uses smart contracts to automate all processes. The platform converts any event – from election results to technology releases – into simple binary predictions. The prices of these predictions are formed solely by the market, creating a unique “collective barometer” of probabilities.

The scale of the platform is impressive: a trading volume of $42 million per day shows that users trust this format. The case with the US presidential debates was particularly telling, where the volume of bets reached $200 million. These figures indicate the significant potential of decentralized prediction markets and their ability to compete with traditional platforms.

Evaluation Methodology:

• Innovative Potential: 2/4 (new application of blockchain in a familiar domain)
• Practical Application: 2/4 (real-world use for assessing the probability of events)
• Impact on Mass Adoption: 2/4 (familiar format for a wide audience)
• Technical Complexity: 2/4 (reliable smart contracts and pricing mechanism)
• Scalability Potential: 3/4 (limitations due to regulatory challenges)

Although regulatory issues remain a challenge, Polymarket shows that when the rules of the game are written in code, not legal documents, user trust grows naturally.

Notcoin: When Cryptocurrency Became a Game

GameFi received a new lease on life in 2024 thanks to the Notcoin project on the TON blockchain. What started as a simple “click the coin” game on Telegram has evolved into one of the largest experiments in mass cryptocurrency adoption.

How Notcoin’s home page looks like. Source: notcoingame.com

The main innovation of Notcoin was not in the technology, but in the approach to user engagement. Instead of complex mechanics and entry barriers, there was just a yellow coin on a smartphone screen in the familiar Telegram app. Simplicity proved to be the key to success – within a few months, users generated over 8 trillion clicks, which translated to 17 trillion Notcoin tokens.

The project became a kind of educational portal into the world of Web3. By playing, users naturally familiarized themselves with the core concepts of crypto-economics: tokens, trading, and blockchain. Notcoin demonstrated that for mass cryptocurrency adoption, complex technological solutions are not always necessary – sometimes, just making the first step as accessible as possible is enough.

Evaluation Methodology:

• Innovative Potential: 1/4 (simple but effective mechanics)
• Practical Application: 1/4 (easy entry into crypto through a game)
• Impact on Mass Adoption: 4/4 (millions of new users)
• Technical Complexity: 1/4 (integration with Telegram)
• Scalability Potential: 1/4 (ability to create new mechanics)

Notcoin has changed our perception of what the first experience with cryptocurrencies should look like. Sometimes, complex technologies or revolutionary solutions are not necessary – it's enough to just make something so simple that everyone can try it. And while critics may call it “primitive,” it's precisely these kinds of projects that bring us closer to a future where cryptocurrencies become a part of everyday life.

The Leaders of 2024: Crypto Projects Transforming the Digital Finance Landscape

After our comprehensive analysis, two clear leaders have emerged:

• Ondo Finance (16 points) – showcasing how crypto technologies can make traditional financial instruments more accessible to all.
• WhiteBIT Nova (15 points) – demonstrating the real-world integration of cryptocurrencies into everyday payments.

While Polymarket (11 points) and Notcoin (8 points) scored slightly lower, each project, in its own way, brings cryptocurrencies closer to the mass user: the former through a familiar forecasting format, the latter through an exceptionally simple entry into the Web3 world.

It's important to note that all of these projects demonstrate different paths to a common goal – making Web3 technologies a part of everyday life. Some opt for the route through traditional financial instruments, others through gaming mechanics, but together they are creating an ecosystem where cryptocurrencies become not just an investment tool, but a common way of interacting with the world of digital finance.