      Tomasz Tunguz (Theory Ventures) · 2023-01-01
      · 1250d
    

Quantifying the Web3 B2B SaaS Market: TAM Analysis and Growth Constraints

Tomasz Tunguz analyzes the current Web3 B2B software market by examining 103 revenue-generating Web3 companies, estimating a total addressable market (TAM) of $231M in 2022, or $75M excluding Ethereum. The market faces significant constraints due to limited customer bases and novel procurement challenges, though opportunities exist in selling Web3 technologies to Web2 companies in gaming, marketing, and financial services.

11 metrics· Cited 0× in the knowledge base ·Open source ↗

Metrics in this report

Companies in Mid-Market Tier ($5-25M)

41count

absolute

of 103 revenue-generating Web3 companies

Companies in Sub-$500K Revenue Tier

44%

percentage

of 103 revenue-generating Web3 companies

Ethereum Revenue Share

60%

proportion

percentage of total Web3 company revenue

High-Value Web3 Software Accounts

100count

fewer than

accounts willing to spend $20-50K annually

Implied Web3 B2B Software TAM

231$M

aggregate

2022, including all Web3 companies

Implied Web3 B2B Software TAM Excluding Ethereum

75$M

aggregate

2022, excluding Ethereum

Largest Web3 Company Revenue

401$M

maximum

Ethereum annual revenue

Percentage of Revenue Spent on Software

30%

assumed average

Web3 companies, assumed equivalent to COGS

Total On-Chain Revenue

771$M

aggregate

103 Web3 companies over 6 months

Web2 CRM Market Customers

150000count

for Salesforce

contrast comparison

Web2 CRM Market Size

57$B

annual spending

Web2 CRM market total