January 27, 2023

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Web3 to inject $1.1T in India’s GDP by 2032, following 37x growth since 2020

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Web3 to inject .1T in India's GDP by 2032, following 37x growth since 2020

The global Web3 boom is expected to add $1.1 trillion to the Indian economy over the next decade, supporting the investment-based momentum driven by over 450 in-house startups, including CoinDCX, Polygon and CoinSwitch. 

A recent study from the National Association of Software and Service Companies (NASSCOM), an Indian non-governmental trade association and advocacy group,

Indian e-commerce giant Flipkart recently launched a metaverse space — named Flipverse — for locals to try out and purchase merchandise from brands including Puma and Nivea.

Flipverse was developed in collaboration with Polygon-incubated organization eDAO and will support digital collectibles and be made available on Flipkart’s newly online shopping platform, FireDrops.