Is there a future for blockchain startups after a dismal crypto winter?

Daniel Tovar
By Daniel Tovar January 6, 2023

The NFT, crypto, and blockchain industries had had a rather difficult year. A major crash that bankrupted over one million creditors who relied purely on their crypto assets was coupled with a market that seems to be getting weaker by the hour, as highlighted by Bitcoin’s dramatic 67% devaluation. 

Many crypto companies have reduced staff numbers, removed business departments, and even closed physical offices in an attempt to minimize expenses and keep their companies afloat during the crypto winter. However, regardless of the recent challenges, new startups working with blockchain technology continue to emerge with new and exciting service offerings. 

In spite of this tumultuous year, many entrepreneurs continue to bet on the industry, and many users continue to support these ventures that have diversified in despite the turbulent times. These trailblazers are not only keeping the industry afloat but helping to solve problems that users are facing. 

New Crypto Applications in Industry

Atlas Navi, a company that works under blockchain technology is one such business. Started by an adventurous entrepreneur, the company launched a road solution application that not only supports drivers with alternatives to traffic problems and hazards but also encourages them to be better drivers. 

With precision 100 times more accurate than any other navigation app, Atlas Navi transforms a user’s mobile device and turns it into an ally on the road—giving drivers the data they need to know if the road they are taking is the best option on their journey. Within the app, Atlas Navi offers a wide range of collectible NFTs and token rewards to drivers for good behavior behind the wheel, incentives that require blockchain technology to be exchanged for other cryptocurrencies or fiat money, according to the user’s preference. 

So far, it seems as though the public is highly receptive to the solution. The company already has more than 150,000 users and, in 2022, it joined Kucoin, one of the most secure and important cryptocurrency exchange platforms in the market. 

For its founder and CEO, George Grama, Atlas Navi’s contribution goes beyond creating road solutions alone, by encouraging users to be better citizens and more responsible drivers. Becoming a member of Kucoin has been an important achievement for his company, as this will help boost the internal economy of Atlas Navi and, therefore, attract more users. The more users, the more data that is generated to help the application become more reliable and faster in notifying users about road conditions. 

“Having surpassed 150,000 users, our team at Atlas Navi felt it was the right time to be listed on Kucoin, one of the world’s leading cryptocurrency exchanges,” said Grama. “We believe that this is an important step in our aim in becoming the leading navigation choice for drivers around the world.”

Blockchain to Unlock Business Solutions

This company is just one example of how the blockchain industry can continue to diversify to offer more than just financial solutions. This will help blockchain not only adapt and evolve during this trying period but also drive projects that benefit businesses as well as the community of users that utilize their innovation. 

It’s expected that the blockchain market will grow again in 2023, with more inclusion of advancing technologies such as the metaverse and artificial intelligence. Because of this, blockchain may see exponential growth that surpasses experts’ current projections. Those who are still willing to bet on the market despite its recent challenges will reap the rewards of this decision when growth begins to flourish again.