What is India's rank globally in Web3 startup founders, according to the ‘India Web3 Landscape’ report?

The correct answer is Second.

In News

• The ‘India Web3 Landscape’ report highlights that India ranks third globally in Web3 startup founders, showcasing its rapid growth in blockchain-based entrepreneurship.

Key Points

• India is emerging as a major Web3 hub, with its developers and startups making a significant global impact.
• With 17% of the world’s new Web3 developers, India has the second-largest crypto and blockchain startup ecosystem.
• Key areas of growth include decentralized finance (DeFi), gaming, NFTs, and tokenized real-world assets (RWAs).
• University partnerships and hackathons are accelerating Web3 adoption, particularly in Bengaluru, Hyderabad, and Chennai.

Additional Information

• Web3 Startup Growth
  • Web3 startups focus on decentralized applications (dApps), smart contracts, and blockchain innovations.
  • India's Web3 ecosystem is supported by funding from global venture capital firms and institutional investors.
• Decentralized Finance (DeFi)
  • DeFi eliminates intermediaries in banking and financial services using blockchain-based solutions.
  • India has seen significant DeFi innovations in lending, payments, and asset management.
• Non-Fungible Tokens (NFTs)
  • NFTs are unique digital assets stored on the blockchain, commonly used in digital art, gaming, and collectibles.
  • Indian developers are actively building NFT marketplaces and blockchain-based virtual assets.