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India Web3 Landscape Report: Developer Base Expands as Investments Soar
- India Web3 Landscape Report reveals that India has the world's third-largest web3 founder base with over 1,200 firms spanning various sectors.
- 11.8% of crypto developers globally are based in India, making it the world's second-largest crypto developer base.
- Hashed Emergent launched the 3rd edition of the 'India Web3 Landscape' report, offering insights into India's web3 ecosystem.
- Indian entrepreneurs in 2024 focused on building new DeFi applications and other web3 solutions.
- 45.3% of Indian web3 developers contribute to code, with gaming and NFTs being the most common web3 use cases.
- India accounted for the largest percentage (17%) of new developers entering the web3 space in 2024.
- Over $3 billion has been invested in Indian web3 startups, with significant contributions from various investors.
- Indian web3 gaming attracts players who spend more than conventional gamers and show high engagement.
- Indian cryptocurrency trading has seen renewed growth, with significant participation from Generation Z and women.
- The Indian government is embracing web3 technologies, with initiatives under the National Blockchain Framework and increasing enterprise adoption.
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