Web3 Companies In India

Web3, also known as the intelligent web, is the third installment of the internet, and it is better than ever before. It resides on the blockchain just as cryptocurrencies, NFTs, decentralization, and many other emerging technologies. The intelligent web is smart and gives instant - precise results every time. It integrates AI, image processing & recognition tools, etc. This, along with its advantageous platform being integrated with its blockchain counterparts like the NFTs and crypto, Web3 is the future.

Difference Between Web 3.0 & Web 2.0

Web 2.0 | Social Web

• For starters, the social web gave rise to the eventual evolution - transforming its use cases with the growing technological advancements of the late 2000s.

• Social web or Web 2.0 was/is the epitome of social interaction in the online sphere.

• It gave rise to many of the multi-billion dollar companies in existence that use the likes of email, community interaction spaces - messages & content sharing, e-commerce, and dynamic data sharing.

• This is just the tip of the iceberg of the opportunities the social web opened. There are still many online business models running solely on it.

• But, the makeover was long overdue and imminent.

• The major drawbacks in the existing sector were the centralization, inability to monetize content & data through data isolation, and the limiting aspect of intelligent data computing.

Web 3.0 | Intelligent Web

• Web 3.0 had a solution for these posed problems.

• The platform is inherently decentralized as the blockchain.

• And user-utilities are easily conquerable as the interface is loaded with recognition tools and artificial intelligence that takes into account the past and present searches and activity to assist the user in a much more streamlined way.

• The monetization of content and data search history is highly popular among internet users.

• Data and records cached on the internet under a centralized state are readily available for any of the big conglomerates to use and make money off of it.

• Now, with the implications of web3, individuals can take advantage of the decentralized platform and generate passive income for access to their records.

List Of Web3 Firms In India:

India in specific has been recently giving into the advantageous landscape of the platform. From big companies that reside on the internet and startups that belong solely to the furtherment of the intelligent web. Let’s look at some of the startups in the Indian hemisphere that are making strides in this regard.

1. Guardian Link

• The decentralized platform is highly revered for contributing to the instant NFT launchpad for artists and creators.

• They use tools and blockchain technology that also share a close relation to the use case of Web3.

• The intersectionality that Web3 provides to integrate many aspects of blockchain technology is another added advantage.

2. Polygon

• Perhaps the most participated blockchain to develop NFTs and decentralized apps in India and worldwide. 

• Polygon is the next sought-after blockchain technology to develop digital assets after Ethereum. With its token called “Matic”, grossing over $14 billion.

• The startup gave rise to many new revenue streams for a variety of individuals.

3. Biconomy

• Another one-of-a-kind startup in India that has implemented the Web3 aspects.

• One-of-a-kind API service providing cross-chain swap - to implement a successful interface to facilitate the transfer of tokens between two different blockchain ecosystems.

• The decentralized user-interface cuts out the intermediaries.

Concluding Thoughts On Web 3.0

Technological advancement is clearing the way for the minorities or individuals with an online presence to grow in the sector as much as the big companies are taking advantage of it. It is high time that the governing bodies, and major industries that haven’t hopped on to the bandwagon yet, are to jump ship. It is bound to happen sooner rather than later.