• The B2B software-as-a-service (SaaS) model was born in the 2000s and disrupted the way enterprise technologies have worked over the last two decades.
• Web3 SaaS (or SaaS3) companies offer decades-old business services reimagined in the Web3 environment, and fresh data shows that the business world is open to trying new ways of doing old things.
• The on-chain revenue of Web3 startups indicates a total addressable market of $231 million in 2022 for B2B SaaS3.
The Birth of B2B Software as a Service
The business-to-business (B2B) software-as-a-service (SaaS) model was born in the 2000s and disrupted the way enterprise technologies have operated over the last two decades. This transformation was driven by consumer products becoming subscription based services. This paved the way for annual fees instead of one time purchases for digital products like software and entertainment media.
Web 3 SaaS Companies
Web 3 SaaS or SaaS 3 companies are offering decades old business services reimagined within a web 3 environment. Data suggests that businesses are open to considering new ways to do traditional tasks. On chain revenue from web 3 startups has indicated a total addressable market of $231 million in 2022 specifically for B 2 B Saas 3 projects.
Size Up Total Addressable Market
Venture capitalist Tomasz Tunguz attempted to size up this total addressable market, finding that 57 web 3 Saas projects generated between $500,000 and more than $100 million during 2020’s second half. This helped to further illustrate this market’s potential opportunity for its product or service being offered.
How Can Web 3 Seize Opportunity?
In order to seize upon these opportunities, it is important that web 3 set off towards new horizons while continuing to disrupt traditional industries through their products or services. Businesses can then make use of B 2 B Saas offerings as an ongoing service monetized through recurrent billings which can help foster growth within this sector even further than before..
In conclusion, it is clear that there are many opportunities available within the Web 3 space for those looking to explore their options with SaaS offerings and recurring billings models alike. With so many possibilities at hand thanks to a total addressable market estimated at around $231 million in 2022, now is an ideal time for businesses looking to make use of such approaches when it comes to enterprise technology solutions.