Web3

When it comes to the Web3 start-up ecosystem, India has emerged as the 2nd largest developer market and the 3rd largest founder base. The country acts as a base for 11.8 per cent of crypto developers and 5.4 per cent of global Web3 founders.

Revealed at Unfold 2024, CoinDCX's flagship Web3 event, the initiative aims to address the critical need for a secure, localised third-party custody service for Indian exchanges and VDA companies.

The funding round was led by Aptos Labs, a company that develops Web3 solutions for service games with blockchain startups Polygon and esports network Game7 also participating.

Notably, based on the penalty imposed on Binance and KuCoin, the potential crypto exchanges can be expected to pay a heavy fine

The rise in female retail cryptocurrency investors and why the ecosystem needs more of them

A non-custodial wallet means you are responsible for storing and managing your private keys, rather than third parties. Self-custody eliminates the potential for fraud, negligence, or regulatory failure when a counterparty controls a person's funds

The Web 3.0 community was excited as MFEV Coin, the latest innovation from Finsai Group, completed its Initial Coin Offering (ICO) seed round in 5 days, raising an impressive $2.25 million.

The company has recently launched a clubhouse in Bangalore's Whitefield after successful launches in Koramangala, Dubai, and San Francisco. The new outlet will operate on the model of fractional ownership

A physical address for a digital the next iteration of the internet sounds idiosyncratic. But this trend of Web3 companies and brands investing in physical places is picking up, slowly and steadily

The harsh treatment of 30 per cent tax on profit and one per cent VDA coupled with India's decision to not yet ban the currency has left many in a fix. So, what does the coming times mean for crypto players in India

According to the official release, the infused capital will be used to continue advancing The Sandbox's vision of a decentralized virtual world. It will be updating its Game Maker and VoxEdit 3D editor tools; introducing new social interactions and abilities for avatars; and expanding gameplay possibilities via its new multiplayer rules system, expected to launch in Beta later this year and to the public in 2025

Markets and Markets report that the global Web 3.0 market will touch USD 5.5 billion by 2030, growing at a CAGR of 44.9 per cent.

According to Crunchbase data, in the first two quarters of 2023, funding dipped by 78% and 76%, respectively, as compared to the same time period in 2022. In 2023, VCs injected $10.7 billion in crypto startups, a 68% decrease from the $33.3 billion in 2022

Notably, he will also build the foundation for developer and tech integrations of the February-launched decentralized protocol AggLayer

Startups such as Purple Pay, Striker, Cult & Rain, Recur, VIBRA and Nifty's ceased operations over the past year. Starbucks, Nike, and Tencent also closed their Web3 divisions

The move comes as Vodafone India, a separate entity which sees Vodafone Group have a 45 per cent stake, take approximately USD three billion in debt

Built on the Aptos blockchain, Chingari Game Zone in its initial stage will offer a curated selection of popular and engaging mobile games, Ludo, a voice communication-based web3 game

Institutions such as Standard Chartered Bank are optimistic and hope Bitcoin value soars to USD 100,000 by the year-end

By 2030, the blockchain technology market is projected to reach an impressive value of USD 137.8 billion

An early-stage TMT venture fund investing across India and the US, it is focused on providing global investors access to the vibrant Indian digital landscape, while enabling domestic scale-ups to enter global markets

World Chain, a layer-2 network on Ethereum, is slated to be launched later this summer. The blockchain will help accelerate the adoption of World ID