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2022 Canadian Web3 Landscape by Incubella

Last updated Tuesday, November 29, 2022 22:09 ET , Source: Incubella Technologies

This report provides an overview of the Canadian Web3 ecosystem, including a brief introduction to Incubella, the Web3 industry, and the Canadian Web3 landscape.

Montreal, Canada, 11/29/2022 / SubmitMyPR /

It’s no secret that 2022 has been a tumultuous year for the Web3 industry. The industry has witnessed several instances of organisations many believed to be invulnerable, fail spectacularly.

Looking forward, a beneficial consequence is that the distracting frenzy has subdued, giving room to the serious builders to continue innovating with less noise.

Conversely, in Canada, regulators have been effectively collaborating with Canadian Web3 companies to improve consumer protection with Coinsquare being the first Web3 company to receive an IIROC membership.

Incubella’s report provides an insightful glance into the Web3 ecosystem’s progression thanks to the hard work of Canadian blockchain entrepreneurs, leaders, and team-players, all working tirelessly to produce great results.

Download the full 2022 Canadian Web3 Landscape here

Insights on the Canadian Web3 ecosystem

Every year, Canadian Web3 companies continue to attract private investment, mostly from post-seed funding as the brightest ideas charge towards Unicorn status. Of the total $4 Billion CAD invested to-date in Canadian Web3 companies, the largest single private investment was Dapper Labs’ $305M USD Series C.

There are currently 5 Canadian Web3 Unicorns, Axelar, Blockstream, Dapper Labs, Figment, & LayerZero Labs. The fastest to achieve Unicorn status is LayerZero Labs, founded in early 2021 and crossed the $1 billion USD valuation mark just over one year later after raising $135 million USD in March of 2022.

Incubella’s complete report of the Canadian Web3 ecosystem is available to read here.

What is Incubella?

As proven leaders in the Canadian web3 and blockchain space, Incubella is a startup incubator specialised in marketing, growing and developing projects built on blockchain in the Web3 ecosystem. Headquartered in Montreal, Canada, Incubella’s creatives have extensive experience building and executing growth marketing strategies for promising NFT, DeFi, Metaverse, and P2E (Play to Earn) gaming startups.

In preparation for 2023, their team put together the “2022 Canadian Web3 Landscape” to give potential clients, VCs, and web3 enthusiasts an insightful glance and analysis of the Canadian Web3 ecosystem. The data presented should encourage additional investment into Canadian Web3 companies as Canada has made positive strides as a country in regulation to help protect consumers. Incubella also wanted to shine light on the 100 most notable Web3 companies in Canada to show the world the progress of great blockchain use-cases and the teams behind them.

Web3 startups looking to grow their user-base should chat with Incubella. Their proven track-record of maximising potential for projects is no joke, helping top 100 market cap projects integrate and co-market with dApps across the ecosystem. Last year, our clients’ acquired a total of over 100k new users, and delivered millions of impressions across all social channels.

Incubella’s Non-Profit Involvement

Web3Montréal (aka Web3MTL) is a Canadian non-profit organisation focused on growing the thriving Web3 community in Montréal, Canada.

Web3MTL is the largest Web3 non-profit community in Montréal. They offer accessible learning & networking resources related to blockchain, cryptocurrencies, DeFi, NFTs, and more.

Their in-person events have attracted sponsorships from some of Canada's largest Web3 companies including Axelar, Figment, Streaming Fast, Zapper, etc. Recently, larger international Web3 conglomerates such as Chainlink, who’ve expressed interest in establishing communities in Canada, look towards Web3 Montréal's community as an opportunity to grow their own ecosystem.

Incubella co-founded Web3 Montréal, alongside Jonathan Mirarchi, Jean-Luc Pellerin, Alice Huang, Ryoma Martin, Lucas Hygate, & Nicolas Vyncke.

The Story Behind Incubella

With tech and gaming deeply embedded in his roots, Bilal Sanchez is amongst many young startup founders in the Web3 space trying to make an impact. After being a YouTuber for over 5 years that attracted over 50 million views, launching and failing multiple tech startups, Bilal has garnered valuable skills in marketing, community building, and operations that would lead him to building Incubella with his fellow co-founder.

Transitioning from a TradFi (traditional finance) background to tech startups, Stephen Edvi is a co-founder and leads business development at Incubella. As an avid technology and crypto enthusiast, Stephen has been actively involved in promoting the education of Web3 and co-founded Web3 Montréal, a non-profit organisation offering accessible Web3 learning and networking resources in Montreal, Canada.



Research and insights into The 2022 Canadian Web3 Landscape were compiled, designed and written by Stephen Edvi and Bilal Sanchez.

Special thanks to contributors Jonathan Mirarchi & Jacob Rizzuto for helping create this report.

The 2022 Canadian Web3 Landscape was published on November 30th, 2022, and is the property of Incubella Technologies S.E.N.C. All rights reserved.


Company: Incubella Technologies

Contact Person: Stephen Edvi

Contact Person Title: Co-Founder

City, Country: Montreal, Canada

Company Email: [email protected]

Website: www.incubella.co
Instagram: www.instagram.com/incubellatech/

Twitter: www.twitter.com/incubellatech/

Incubella Branding kit available here

This press release may contain forward-looking statements. Forward-looking statements describe future expectations, plans, results, or strategies (including product offerings, regulatory plans and business plans) and may change without notice. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements.

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