The Fortune Crypto 40 list includes representatives from a wide range of industries from venture capital firms to NFT platforms.
Fortune business magazine recently released its list of the top 40 companies that have had a significant impact on the cryptocurrency industry. The companies were grouped into eight categories, i.e. CeFi, TradFi, NFT, Infrastructure, Venture Capitalist, DeFi, Data, and Protocols.
Coinbase exchange was declared the winner of the CeFi category, while Binance, the only non-American company on the list, came in second place.
PayPal was recognized as the best business in the TradFi category, while Opensea, the largest NFT platform, was named the best NFT project. Yuga Labs, the company that owns the Bored Ape Yacht Club collection, followed closely in second place.
Ledger, a provider of hardware wallets, was named the best infrastructure project, with mining company Genesis Digital Assets taking second place. The category considered companies involved in mining, equipment manufacturing, and software development, with a market capitalization of over $400 million.
In the Venture Capitalist category, experts considered companies that had provided funding for at least 35 crypto projects, including one “unicorn.” Polychain Capital was recognized as the best venture capital company.
Among DeFi projects, DEX Uniswap was chosen as the winner. The top three businesses in the data and business analytics category were Chainalysis, Coin Metrics, and The Graph.
The researchers evaluated the contenders in the protocols category based on the decentralized nature of most crypto projects, taking into account all infrastructure behind the protocol, including labs, foundations, and companies. Ethereum was selected as the best protocol, with two Layer 2 blockchain scaling solutions, Polygon and Arbitrum, also making it to the top 5.
How were the best chosen?
According to the Fortune experts involved in compiling the list, they decided on eight different categories due to the heterogeneity of the cryptocurrency industry. Comparing NFT sites to DeFi projects is difficult, and the different categories aim to add fairness to the top, they stated.
The study used both empirical indicators and data from surveys of more than 200 financial executives conducted by the international research bureau Researchscape.