In 2021, we saw much attention towards cryptocurrencies, NFTs, decentralization, and many other related technologies. Web3 is the third version of the internet, whose community is also exponentially growing in India. It doesn’t hurt that Web3 also resides on the blockchain.
We are witnessing a shift to Web3 because it is smart and provides instant and precise results every time. It also integrates image processing and recognition tools, AI, etc., and NFTs and crypto.
Lately, India has seen several Web3 startups emerging in the country. So, in this article, we will talk about Web3 startup companies in India.
Polygon is India’s biggest blockchain project and cryptocurrency to date, which is built on the Ethereum blockchain. It was founded by Indian entrepreneurs Jaynti Kanani, Anurag Arjun, and Sandeep Nailwal in 2021.
Polygon allows its users to build decentralized apps and services on it. It even has its token- MATIC and has attracted the interest of many global investors, such as billionaire entrepreneur Mark Cuban.
Biconomy was founded by Sachin Tomar, Aniket Jindal, and Ahmed Al-Balaghi, and it offers a cross-chain transaction protocol. It operated across multiple blockchains, with an end goal to provide a readily implementable application programming interface (API) to services to integrate a decentralized payment gateway. It also has a native token- Bico.
Arcana was founded by Mayur Relekar, Abhishek Chaudhary, and Aravindh Kumar and had a native token- XAR. Arcana aims to offer a developer-friendly decentralized storage interface, and they claim it can provide one of the most readily implementable decentralized storage platforms for Web3 services to utilize.
Guardian Link is a decentralized platform that is regarded for contributing to the NFT launchpad for creators and artists. Apart from that, Guardian Link uses tools and blockchain technology used in Web3, which enables it to integrate many aspects of blockchain technology.
you can also check this out Different types of startups in India 2022
KoineArth was founded by Praphul Chandra and is targeting enterprises with Web3 services. Its latest association with China-owned British automobile company MG Motors India brought a lot of attention. MG has partnered with KoineArth to offer a blockchain platform to give its users a decentralized driving data platform. This data can be used to initiate insurance claims, among other tasks.
KoineArth has also helped the automobile brand to introduce a non-fungible token (NFT) platform in India through its marketplace.
Susmut Lavania and Ayush Ranjan founded Huddle01 to use edge computing by leveraging a decentralized network of devices to host video conferences. It offers to reduce the latency of connectivity in video conferences using its decentralized video calling framework.
Huddle01 can act as a perfect alternative to centralized video conferencing tools such as Microsoft Teams, Google Meet, Zoom, etc., as it has all the essential features that these platforms possess.
We all have witnessed the big behemoth companies grow in their respective sectors for years. However, due to the technological advancements we have seen over the past decades, a path is being cleared for the smaller sized companies to rise and make their way to the top, and Web3 is just another example of how smaller companies, with less capital can make it big.