17 August 2022
The web3 community in India has risen significantly in response to the desire to bring Cryptocurrencies into the mainstream last year. India has an inflow of developers interested in establishing a wide range of decentralized services, which is among the intriguing array of projects involving Cryptocurrency and other connected sectors. These initiatives piqued the general public's interest in 2021, but this year might be the year of stabilization.
According to new findings, blockchain adoption in capital markets is predicted to reach $27 trillion by 2027, with the addressable market for the NFT market over $40 billion and the relevant market for the metaverse exceeding $8 trillion. The following are the top 10 Web 3 Indian Companies that you need to keep an eye on this year:
This firm was established in 2021 with its headquarters in Chattisgarh. The Bengaluru-based company Vayupankh.io provides a technological platform that lets companies create their own chains, build NFT markets, and generate tokens and swaps to utilize with their other systems. Dapps for gaming will be available on the platform soon.
2021 has been an incredible year for Polygon, India's largest Cryptocurrency and blockchain venture. Polygon was founded by Indian businessmen Sandeep Nailwal, Jaynti Kanani, and Anurag Arjun. It is based on Ethereum blockchain technology but seeks to address various fundamental concerns. The blockchain technology and architecture enable developers to create decentralised apps and services on it by utilizing Ethereum, which eliminates the high fees and transaction delays associated with the latter.
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It was established in 2016 and is based in Hyderabad. StaTwig helps companies combat supply chain problems, such as forgery, black-marketing, and excess inventory, by tracking the movement of every product in the supply chain during its travel. Sid Chakravarthy started this company, which has collaborated with AWS, Tech Mahindra, Twilio, Intel, and UNICEF. Its core product is a VaccineLedger, which assists numerous health agencies with the Covid-19 vaccinations.
Biconomy, which provides a cross-chain transaction protocol, was invented by Ankit Jindal, Ahmed Al-Balaghi, and Sachin Tomar. The latter functions over many blockchains, with the ultimate objective of providing a simple API for services to incorporate a decentralised payment gateway. Biconomy's goal is to make blockchain-based payments accessible to the general public. It secured $9 million in investment last year in anticipation of the debut of its native token, Bico.
It was established in 2020 and is headquartered in Delhi, NCR. DeFi technology called PredictRAM manages risk using a blockchain-based artificial platform. The firm tokenizes customers' IT assets and develops artificial tokens that enable decentralised derivatives' creation, configuration, and trading.
Huddle01's decentralized video conferencing infrastructure has attempted to reduce the delay of video conferences through its decentralized video calling infrastructure. Established in Noida by Ayush Ranjan and Susmit Lavania, the product aims to employ edge computing to perform video conferencing using a decentralized network of devices. The creators have received praise for their original product, which they expect to rise in value as usage grows.
Also read: 7 Best NFT Creator Software
It was established in 2021 and is headquartered in Bengaluru. In 3bewte, users can create communities to form a decentralised, autonomous community built on web3 technology. The firm, founded by Krishna K V and Vighnesh Velayudhan, allows users to create their own communities and earn $BEW, the startup's token, for follower involvement. Customers may then utilise the $BEW to make in-platform transactions.
MG Motors India, a Chinese-owned British vehicle company, partnered with KoineArth, an Indian platform aiming for organizations with web3 services, in 2021 to make it more popular. The latter collaborated with KoineArth to provide consumers with a decentralized driving data platform via blockchain. This data, which may only be transmitted with the user's express agreement, can subsequently be used to aid launch insurance claims and other duties.
It was established in 2020 and is headquartered in Bengaluru. A CommitPool platform is a self-help tool based on Polygon's Web 3 platform that combines Cryptocurrency benefits with self-care objectives. A person can commit to a goal, bet some DAI, and be paid when the goal is achieved.
It was established in 2020 and is headquartered in Bengaluru. Its \founded by Aravindh Kumar, Abhishek Chaudhary, and Mayur Relekar. Arcana recently raised $2.3 million which it stated will help it launch its native token, XAR. It also wants to build a community and enhance its core platform, which is a privacy-led decentralised storage platform built on the Ethereum blockchain. Arcana aims to provide a developer-friendly decentralized storage interface, claiming that it can give one of the most easily implementable decentralised storage platforms for web 3 services to use.
Disclaimer - The author’s thoughts and comments are solely for educational reasons and informative purposes only. They do not represent financial, investment, or other advice.