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Bangalore, India, December 9, 2024, Chainwire
India’s Web3 ecosystem recorded $462 million in investments in the first nine months of 2024, a growth of 82% compared to last year. With 1,000 startups, the third largest founder base in the world and 12% of global crypto developers, India is on track to become the largest developer hub by 2027.
India Blockchain Week (IBW) Conference, the 2-day main conference that anchors the India Blockchain Week series of 100+ Web3 events in Bangalore, is delighted to announce that the week-long Web3 gathering was a success resounding, reinforcing India’s position as a global leader in Web3 adoption and innovation. The country’s entrepreneurial culture sets global benchmarks for success, inspires innovation and charts a pioneering path for emerging countries.
The two-day main conference hosted over 3,500 enthusiasts, including investors, developers and stakeholders, allowing them to explore the future of blockchain technology, digital innovation and its impact on various industries. Throughout the week, more than 100 side events offered builders and users the opportunity to receive advice from industry thought leaders, try new products and engage with community members.
The IBW2024 conference brought together more than 150 visionary speakers, including industry leaders such as Aptos co-founder and CTO Avery Ching, Supra CEO and co-founder Joshua Tobkin, co-founder of Polygon, Sandeep Nailwal, Monad CEO Keone Hon, and BitGo COO Chen Fang, and many others. others, who shared their insights on the rapidly evolving Web3 landscape.
To mark the occasion, Tak Lee, CEO and Managing Partner of Hashed Emergent, said“India is a microcosm of the world, with its successes inspiring global hope by showing how a nation reflecting the diverse realities of the world can have an impact at the population level. As India is rapidly emerging as a key consumer of open network applications, we are deeply grateful to all our sponsors, speakers and partners for making India Blockchain Week 2024 a huge success. We look forward to continuing this journey of innovation and collaboration, fostering a thriving blockchain ecosystem that connects India to the world.
Hashed Emergent, the organizers of the flagship IBW 2024 conference, have offered an exclusive insight into their upcoming annual report on the Indian Web3 landscape. Developed with its knowledge partners, the report provides an overview of the evolving Web3 landscape in India, covering topics such as the growing adoption of digital assets, the growth of Web3 games and the burgeoning startup ecosystem, with a focus on blockchain technology and increased developer participation. Some of the highlights include:
- India has the third largest Web3 founder base in the world, home to over 1,000 start-ups.
- In the first nine months of 2024, the ecosystem attracted $462 million in investments, a growth of 82% from the previous year.
- Web3 players have almost doubled their wallet size compared to Web2 players, with more Web2 players venturing into Web3 games.
- From Coinbase Ventures, Y Combinator, Animoca Brands, IOSG and LD Capital to local champions such as Hashed Emergent, CoinDCX, PeakXV, Borderless and Alpha Wave are aggressively investing in Indian projects. This is a global vote of confidence in Indian Web3 innovation.
- Web3 gamers spend nearly double what traditional gamers do: $220 versus $120 per year. Additionally, they are more likely to be paying users – 64% versus 56% in Web2.
- India saw the highest annual developer growth at around 28%, adding over 4.7 million developers to GitHub in 2024.
The conference also witnessed several partnerships, product launches and other initiatives. Nazara Technologies and Lysto have launched the Growth Protocol, a layer 1 blockchain specifically designed for digital marketing and growth initiatives. Huddle01, the leading decentralized video conferencing platform, announced at IBW that it has reached 4 million new users through a strategic partnership with SocialFi FanTV.
Mudrex, one of India’s leading crypto exchanges, has launched #LearnwithMudrex – India’s first multilingual crypto learning platform. He will partner with leading Indian educators and investors to spread awareness about crypto as an asset class.
The organizers of the IBW2024 conference thank all the participants who traveled all the way to Bangalore to participate in India’s largest Web3 event, as well as the sponsors Aptos, Supra, Polygon, Starknet and others who made it all possible . They also express their sincere gratitude to the more than 150 speakers who participated in the conference lectures or panels.
Next year, the IBW conference aims to partner with more stakeholders to join the conference and highlight India’s catalytic role in the global Web3 industry.
About Indian Blockchain Week (IBW)
India Blockchain Week (IBW) is a movement unifying the Indian web3 ecosystem and a platform to connect with the global community. It is India’s largest pan-industry series of blockchain and web3 events, running from November 30 to December 8, 2024 in Bangalore, India. IBW is a week-long lineup of 100+ Web3 events, including flagship events like IBW Conference, ETHIndia, FILBangalore and many other side events, networking events, workshops, parties, etc. organized by Indian and global blockchain industry players.
The IBW Conference is the flagship two-day event marking India Blockchain Week (IBW) on December 4-5, 2024 at the Sheraton Grand, Bangalore and organized by Hashed Emergent – a web3 venture capital firm dedicated to acceleration of the mass adoption of web3 in India. .
For more information about IBW, visit: Website | Twitter | LinkedIn | Telegram
About Hashed Emergent
Hashed Emergent is the venture capital arm of Hashed, supporting builders from India and emerging markets that are shaping the frontier of the chain. She invests in the early stages of a web3 startup’s journey, using her expertise, experience and network to amplify its growth and success. The team is anchored in Web3’s cultural hubs in emerging markets, spread across Bangalore, Seoul, Singapore, Lagos and Dubai. Hashed Emergent drives the expansion of the Web3-focused ecosystem and community in these markets through its purpose-built initiatives.
Contact
Ridhima Bhasin
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