: India’s Web3 startups are getting a big boost from venture capitalists #IndiaNEWS India’s startup ecosystem grabbed eyeballs from several marquee investors from all over the world during the Covid-19

@IndiaNEWS

Posted in: #IndiaNEWS

India’s Web3 startups are getting a big boost from venture capitalists #IndiaNEWS
India’s startup ecosystem grabbed eyeballs from several marquee investors from all over the world during the Covid-19 pandemic. Now, it is time for its Web3 startups to shine.Web3 is an umbrella term for an online ecosystem that cuts out the big corporations and need not be navigated through search engines like Google. It uses blockchain, the same technology used by cryptocurrencies and non-fungible tokens.The total funding into these new-age startups rose to a record 7.16 million as of October 17, 2021, compared to million in the previous year. This has raised hopes for blockchain-focused startups in the country.This new ecosystem will enable decentralised apps to replace centralised social networks, all the while allowing individuals to maintain ownership over their data. In the current form, these decentralised apps are available for finance, arts and collectibles, gaming and technology.“Rising smartphone penetration and affordable mobile Internet have transformed India into a digital-first economy…As a result, the long-term prospects for the Indian startup-venture capital market look stable and promising,� Aurojyoti Bose, lead analyst at GlobalData, said.It is estimated that the country could have over 8,00,000 jobs created in blockchain and other Web3-related fields by 2030, according to a report by industry body Nasscom and Indian cryptocurrency exchange WazirX.Polygon platformOn February 7, Polygon, an ethereum-scaling platform that allows cheaper and...Read more

Intraday stocks under 50 NSE India Twitter of India

Vote Up Vote Down

Login to post a comment!