The State of Web3 in France: A Groundbreaking Study Unveils a Rapidly Growing Ecosystem

Finance Innovation, Doors3, Stack Talent, ADAN, and Banque Delubac & Cie are proud to present the first edition of “Web3 in France”, a unique collaborative study aimed at understanding the dynamics of this rapidly evolving ecosystem.

This inaugural edition is based on insights from 73 Web3 startups in France and perspectives from 12 key industry experts, providing a comprehensive view of the sector's strengths, challenges, and opportunities.

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A Growing Sector with Global Potential

Despite market fluctuations, the Web3 industry in France continues to expand and has the potential to establish itself as a global leader. Several French companies are already making a mark internationally, demonstrating the sector’s resilience and long-term promise.

A Dynamic Ecosystem Balancing Maturity and Structuring

The study highlights a dual reality within the French Web3 ecosystem:

1. Mature Players Gaining Traction

   • Several French startups are rapidly scaling, as evidenced by significant fundraising rounds from DFNS, Morpho Labs, and Kiln, as well as the emergence of global leaders like Sorare and Ledger.

   • French companies are securing strong positions internationally, particularly in the Fintech and blockchain infrastructure sectors.

     
     

2. Challenges for Emerging Players

   • 50% of the surveyed companies are not yet profitable, facing hurdles such as:

     • Regulatory constraints that do not account for the realities of young startups.

     • Complex partnerships with large corporations.

     • A shortage of specialized talent in key technical areas.

Industry players unanimously call for a more favorable environment to foster the growth and sustainability of French and European Web3 champions—especially in the face of evolving regulatory landscapes.

An Annual Benchmark to Support Web3 Growth in France

This first edition marks the launch of an annual study that will track the evolution of the Web3 ecosystem in France. The goal is to provide public policymakers, entrepreneurs, and investors with data-driven insights and strategic analyses to support the development of this promising sector.

Key Figures from the Study:

📌 30% of companies generate over €1 million in revenue.
📌 50% of companies are not yet profitable.
📌 82% of companies operate at an international level.
📌 240 open positions among respondents.
📌 46% of respondents receive grants from blockchain foundations.
📌 75% of companies collaborate with institutions or large enterprises.
📌 90% of respondents believe Web3 is underrepresented in French schools and universities.
📌 70% of Web3 companies derive less than 10% of their revenue from crypto assets.

Web3: A Strategic Opportunity for France’s Economic Sovereignty

Web3 is rapidly emerging as a key strategic sector for the French economy, with significant implications for national sovereignty and innovation in the coming years. France must seize this opportunity to position itself as a global leader in blockchain and decentralized technologies.

🚀 Stay tuned for future editions of this study as we continue to track the evolution of Web3 in France!