What would drive the next billion users to the blockchain ecosystem? Green price charts for related coins, or perhaps more acceptance from governments around the world? Both can help draw the masses’ attention to blockchain-based technologies. However, the real-world uses would generate enough interest for the average user to try out the technology — an app or a service that provides utility for the end-user.

Data storage is a crucial area plagued by centralized monopolies that take away user control and data ownership. According to a Fortune Business Insights report, the market was valued at $217 billion in 2022 and is expected to grow to over $777 billion by 2030. Large corporations have been able to dominate data storage effortlessly due to the lack of competition, causing a stagnation in data storage improvements for end users.

The average user’s growing need to store and manage data, coupled with privacy concerns and the high costs associated with centralized platforms, enabled the growth of data storage powered by decentralized physical infrastructure networks (DePIN), including FileCoin and Arweave. DePINs provide easy scalability, enhanced security and data storage through a network of interconnected physical resources, such as servers and storage devices distributed across multiple locations. By utilizing DePINs, data storage services can offer their customers cheaper pricing options.

In a world where most smartphones don’t have additional storage features while an average 4K video is holding about 1 GB of storage at minimum, it’s no surprise that Big Tech is pushing users toward cloud storage. Since both Google and Apple have cloud offerings for end users that provide native-level support for their respective devices, these centralized entities don’t see a reason to lower prices.

DePIN employs tokens to initiate the setup of physical infrastructure, subsequently fostering a network effect that enables the building of decentralized applications (DApps). Centralized solutions like Amazon S3 cost up to 121 times more than Filecoin. However, the price discrepancy doesn’t directly translate into new users, as these protocols are focused on the infrastructure and enterprise-grade solutions instead of the general public. So, while the costs are low, the lack of consumer-oriented applications restricts the proliferation of more use cases.

Web3 data storage

A new Web3 data storage platform called GhostDrive is putting the end user in focus instead. GhostDrive offers a user-friendly experience that feels intuitive for mainstream users coming from centralized alternatives like Google Drive. The choice between MetaMask wallet integration or traditional email registration is given to users to simplify their onboarding process from Web2.

Powered by InterPlanetary File System (IPFS) and Filecoin, the platform enables asset tokenization and secure data exchange. GhostDrive delivers various Web3-friendly features to enable decentralized data storage, sharing and access.

GhostDrive’s interface is intuitive and provides a familiar experience for users from centralized platforms. Source: GhostDrive

GhostDrive puts users’ concerns about data privacy and security at the forefront, as files uploaded to the platform go through a detailed encryption process before being transmitted and stored. Only authorized users are able to access and view these files by decrypting them. GhostDrive allows users to customize the encryption rules for each file uploaded, making collaborative projects easier to access but personal photos much harder to view.

The distribution of data security in Ghostdrive gives users more control over protecting their data. While the platform safeguards infrastructure, users secure their data, ensuring sensitive data remains confidential. This solution reduces user’s dependence on service providers while helping providers keep prices low by saving on security costs. Moreover, GhostDrive uses MultiSig technology, which provides multiple authorizations for pivotal data actions, bolstering security and fostering collaborative data management.

GhostDrive also enables on-the-fly file conversion and compression by allowing users to switch between various formats without external tools.

The Cointelegraph Accelerator program has now welcomed Ghostdrive to its list of participants. The program picked Ghostdrive for its potential to disrupt data storage and tokenization and become a point of onboarding new users to the Web3 ecosystem by providing a real-life use case. The Singapore-based company aims to become an all-in-one platform for data encryption, control and owners.

Web3 startups often face challenges unique to the nascent ecosystem — complex regulatory landscapes and scaling with decentralization are just two of many. Venture capital flowing into Web3 startups experienced a big drop over the last year, and new projects need more help than ever to carry their work throughout the early phases.

This is where Web3-focused accelerators can step in. Programs designed by industry leaders act as pathfinders to guide promising projects and startups through the uncharted horizons of Web3. Tailored to the specific needs of Web3 ventures, accelerator programs offer a range of resources, including mentorship from industry experts, access to a well-established network and programs designed to address the unique challenges faced by newly emerging startups.

Web3 startup funding took a hit during the crypto winter of 2022, and has not recovered so far. Source: Cointelegraph Research

Web3-friendly accelerators join forces

When the market conditions become unpredictable, it’s crucial for the industry to collaborate and find ways beyond VC money to endure the economic downturns. Headquartered in Hong Kong, Brinc is a venture accelerator that empowers game changers to help solve some of the world’s biggest challenges and actively supports entrepreneurs from around the globe on their path to innovation. Offering accelerator programs to companies in a variety of sectors, ranging from climate and food technologies to hardware, Internet of Things (IoT) and Web3, the company has invested in 239 companies originating from more than 36 countries.

Brinc’s Web3 program is delivered in partnership with Animoca Brands and is set to host its fourth cohort in Q1, 2024. Through the program, Brinc has accelerated more than 60 Web3 companies, covering technology and infrastructure, DeFi, gaming, metaverse, entertainment, healthcare, arts and culture.

The new partnership between Brinc and Cointelegraph seeks to create a two-way bridge between the former’s Web3-focused accelerators and the Cointelegraph Accelerator program. The aim is to utilize the complementary nature of the two accelerators by combining Cointelegraph’s global audience and marketing experience with Brinc’s expertise in product development, token design, scaling strategy and network introductions.

Brinc accelerator programs provide mentorship, funding and access for startups. Source: Brinc

Together with Cointelegraph Accelerator, Brinc aims to hold joint demo days for up-and-coming Web3 startups so they can showcase their projects to a broader audience. As part of the collaboration, Cointelegraph and Brinc will open up their respective networks of projects, mentors and investors to the participants of their accelerators.

Brinc’s network of prominent Web3 names, which consists of Animoca Brands, Consensys, AWS, Filecoin and more, will provide mentorship for Cointelegraph Accelerator participants. Likewise, Brinc’s accelerator program and potential portfolio companies will receive Web3 Marketing and other workshops conducted by Cointelegraph Accelerator on top of special discounts for Cointelegraph’s media products.

This clarifies the roadmap for any startups joining the programs: Participants can build their minimum viable product, strategize to scale and connect with best-fit partners under Brinc’s guidance, and then launch it to the global audience via Cointelegraph Accelerator.

Cointelegraph Accelerator ignites the growth of promising Web3 projects by developing marketing strategies, providing advertorial media coverage, organizing workshops with specialists, and arranging participation in crypto events and introductions to Cointelegraph’s network of partners, consisting of institutional investors, exchanges and advisers.

Decentralized finance (DeFi) gave birth to a wide range of financial services that aim to challenge what traditional finance (TradFi) offers. However, the user experience persists as a major issue hindering the widespread adoption of DeFi apps and solutions. For years, the DeFi ecosystem has been seeking an entry point that can onboard the next wave of users to decentralized apps.

One potential solution is a financial technology (fintech) app that’s catered toward TradFi users and also offers easy-to-use DeFi functionality. This way, users can realize that self-custody, a practice that enables safeguarding digital assets in personal wallets without the help of a third party, can be a way forward and start ditching centralized intermediaries like banks.

While users’ quest to take full responsibility for storing and managing crypto assets picked up the pace with self-custody, the Web3 space created new services to let people swap, spend and earn crypto that utilizes both CeFi and DeFi aspects to help the migration process.

Envisioning a demand and emergence of new sophisticated decentralized financial apps, Changex, an all-in-one mobile wallet, employs a CeDeFi model, combining centralized and decentralized finance in a single screen in a bid to attract users coming from traditional services with a familiar environment.

DeFi meets CeFi

The Changex app offers a crypto trading exchange in a non-custodial environment, leaving the keys to crypto assets with users. Users can buy, sell or transfer crypto on the platform, which also supports buying crypto with debit cards and bank transfers. The exchange supports multiple blockchains, including Ethereum, Polygon and Binance Smart Chain.

DeFi users can take advantage of the most common alternative finance practices, including staking, with lending and stablecoin interests coming later this year, all from within the same app. Changex also gives additional APR on staking rewards with the platform’s native token, CHANGE.

The upcoming Changex Visa Debit Card will give cashback for shopping. Source: Changex

Changex app is also working on issuing European Union-regulated IBANs to users for managing fiat assets, opening the door for cross-border transactions across the EU and bridging the gap between the crypto world and traditional financial systems. Scheduled for the fourth quarter of 2023, the upcoming Changex Visa Debit Card will give cashback bonuses to its owners. Users will also be able to spend their staked assets without impairing APR.

Changex joins Cointelegraph Accelerator

Cointelegraph Accelerator picked Changex as a participant for the expertise of its team, which has over 20 members, an office in Bulgaria and a track record of delivering robust financial solutions. The app provides a user-friendly, streamlined experience, efficiently catering to both Web2 and Web3 users. The product also displayed good traction, with an average of 25,000 monthly active users and nearly $3 million worth of staked assets.

Next for Changex is the integration of the Avalanche blockchain. This integration will also bring several Avalanche-based staking pools. What’s more, Changex is working on releasing a unique leveraged staking functionality on the platform in the coming months. Following that, in the fourth quarter of 2023, Changex will roll out its biggest update – the Changex Visa Debit Card and IBAN – which will enable users to claim complete control over their finances and turn Changex into a comprehensive one-stop-shop for crypto and fiat alike.

Streaming video is one of the fastest-growing markets in the world, with the OTT video industry alone projected to reach $200 billion in 2023. Short for “over-the-top” video, the OTT video ecosystem includes on-demand video as well as ad-supported video content, and it is mainly driven by the growth of established Web2 streaming platforms, including Netflix, Hulu and Disney+.

The streaming video market is expected to grow at 14.3% CAGR. Source: Replay

While the reports project an $300 billion revenue for the streaming video business by 2027, the lopsided revenue-sharing mechanics of the industry creates an unhealthy balance between the creators of value and the platforms distributing that content. The centralized nature of the video streaming ecosystem allows for opaque distribution and lets platforms capture the vast majority of the revenue, leaving minimal value for video creators.

Although companies – ranging from talent agencies to tech projects – exist to broker and license content on behalf of the creator, they fail to track revenue accurately and mostly rely on manual record-keeping. The recent strikes started by the Writers Guild of America (WGA), Directors Guild of America (DGA) and SAG-AFTRA, the union representing actors in the United States, remind the film industry that the workers behind streamed shows are heavily underpaid and uninformed when they will get paid next, highlighting the issues in the traditional value distribution model.

Blockchain-based video distribution

One potential solution for mainstream media brands managing these issues lies in a decentralized, transparent video distribution ecosystem that utilizes the traceability and accountability qualities of blockchain technology. Replay, a decentralized video streaming protocol, aims to provide transparency and fairness to content creators and owners by building a video ecosystem with real-time compensation by monitoring content usage on playback and recording all data on a distributed ledger. The protocol can also gamify any video app with badges, missions and digital collectibles.

Replay’s first streaming service, RewardedTV, utilizes Web3 to reward viewers with digital tokens. Users can redeem reward tokens for digital goods, and the whole experience is gamified with features such as leaderboards and competitions.

How decentralized video streaming works for the benefit of creators and viewers. Source: Replay

Using Replay’s asset management portal, creators can get live insights into their content consumption data and have direct control over their business models. Replay also lets creators be in charge of their own distribution by allowing them to build first-hand relations with platforms, publishers and communities that wish to support creators.

Replay joins Cointelegraph Accelerator

Replay has become the latest participant of the Cointelegraph Accelerator program. Given the growth potential of a Web3-driven video industry, Cointelegraph Accelerator picked  Replay for its U.S.-headquartered experienced team of 10+ employees hailing from within the video industry as well as its proven track record. “It’s incredibly exciting to be selected by Cointelegraph for this prestigious accelerator program,” said Krish Arvapally, CEO of Replay.

“In an online world that’s increasingly dedicated to streaming and video, this partnership is a testament to our progress in building the open Web3 standard for tracking and monetizing video engagement.”

As of May 2023, RewardedTV hit 100,000 registered users, with over 4,000 video-on-demand (VOD) options and over 120+ linear and live channels. The platform provides access to over 20,000 titles, including those from popular brands like Yu-Gi-Oh!, The Washington Post and WatchMojo.