The Web3 industry has been rapidly expanding, boasting a global market size of $3.17 billion in 2024 and is expected to skyrocket to $99.75 billion by 2034, representing a staggering compound annual growth rate (CAGR) of 41.8%. Amidst this explosive growth, a critical question arises for Web3 innovators: is it more advantageous to specialize deeply in a specific niche or to construct a comprehensive ecosystem with a diverse array of interconnected tools?
Major players in the space, like Binance, have already pivoted to offer a spectrum of services beyond their core crypto exchange platform, tailoring solutions to meet distinct market needs. For instance, ICB Labs exemplifies a purpose-oriented Web3 environment, leveraging a Layer-1 network in conjunction with products such as ICB Verse, an NFT talent marketplace, and a Know Your Customer (KYC) service.
