Web3 Ecosystem to Add $1.1 Trillion to India’s GDP by 2032: Report
India has emerged as a leading global player in the Web3 market, a new report by Nasscom states. Web3 investments in the country grew 37 times from the start of 2020 to Q1 2022 and $1.1 trillion in Web3 economic value is projected to be added to India’s GDP by 2032. India Emerges a Leading Global Player in Web3 Market Nasscom published a report titled “The India Web3 Startup Landscape: An Emerging Technology Leadership Frontier” Wednesday. Established in 1988, Nasscom is a non-profit industry association for the technology sector in India. The organization has more than....
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The explosive Web3 growth in the country is supported by several factors, including a large talent pool, a high adoption rate and product development for global markets. The global Web3 boom is expected to add $1.1 trillion to the Indian economy over the next decade, supporting the investment-based momentum driven by over 450 in-house startups, including CoinDCX, Polygon and CoinSwitch. A recent study from the National Association of Software and Service Companies (NASSCOM), an Indian non-governmental trade association and advocacy group, highlighted India’s position as a leading global....
According to a recent report by Fidelity Digital Assets, Bitcoin’s (BTC) illiquid supply could climb to 8.3 million BTC – roughly 42% of its total supply – by Q2 2032. As a result, the digital asset’s price may experience extraordinary price appreciation by then. Bitcoin Illiquid Supply Could Jump To 8.3 Million For their analysis, […]
A new report shows that 65% of the 1,450 Web3 organizations are based on native blockchain technology, while 35% of the organizations are based on non-native technology. United Arab Emirates (UAE) has emerged as one of the fastest-growing destinations for Web3 projects, thanks to the initiatives taken by its government.A recent research report published by the Web3 platform Crypto Oasis Ecosystem highlighted the dominance of UAE in the Web3 economy as it identified more than 1,450 active Web3 organizations with nearly 7,000 individuals.The report divided Web3-based projects into two....
Coinbase Ventures will conduct an in-person pitching event in Bengaluru to help accelerate India's financial inclusion goals via crypto and Web3 investments. Coinbase Ventures, an investment arm of American crypto exchange Coinbase, shared a plan to invest $1 million in various Indian cryptocurrency and Web3 initiatives via an in-person pitching event. In a blog post drafted while he was in India, Coinbase CEO Brian Armstrong revealed that the venture firm intends to tap into India’s software talent with the crypto and Web3 technologies and help accelerate India’s economic and financial....
Web3 ecosystem is in the nascent stage and evolving continuously with cutting-edge products and more innovators taking a keen interest in exploring blockchain in general. But, when we talk about web3 adoption at scale, it somehow fails due to some significant hurdles faced by many. For starters, if you’re a new entrant exploring the Dapps […]