Web3 Industry Expected To Grow To $7T Market Cap By 2030: Projects Coindcx CEO At Unfold 2023
CoinDCX, one of India’s most valued VDA exchanges, marked the commencement of their flagship event – UNFOLD 2023, a premier Web3 event.The annual event is designed to support the innovative spirit of Web3 startups, and took place in the heart of India’s Silicon Valley, Bengaluru.The event is the perfect platform for aspiring Web3 founders to connect with potential investors, partners, and customers, propelling their entrepreneurial journey to new heights.
The inaugural day of UNFOLD 2023 kicked off with an opening address by Shri Priyank Mallikarjun Kharge, Minister for IT/BTKarnataka. He said,The Government of Karnataka is willing to Listen, Learn and Adapt new technology and we are here to support the industry.In the burgeoning realm of Web3, our government is committed to not only observe and absorb but also to evolve with this digital frontier. We eagerly anticipate the establishment of a regulatory sandbox. We firmly believe that a thriving startup ecosystem, especially in disruptive technologies like blockchain and Web3, will forge numerous job opportunities. For in the progress of Karnataka lies the progress of our entire nation.
He went on to explain that as there is already The Karnataka Innovation Authority that has been set up during his previous tenure could be now utilized for the developers to thrive in the same sandbox environment until they come out with legit regulatory policy.
While addressing the audience, Mr.Sumit Gupta, Co-Founder, CoinDCX said, the Web3 industry is expected to grow to ~$7T market cap by 2030. Web3 applications are poised to impact the lives of more than 1 billion users globally. Traditional assets, with a total value locked surpassing $10 trillion, will be seamlessly integrated onto blockchain networks.A remarkable 50% of internet users will possess on-chain identities, ushering in a new era of digital sovereignty. Furthermore, major web2 industry leaders will make the leap onto blockchain technology. India is set to foster and nurture over 100 unicorn companies, firmly establishing its prominence within the web3 domain.
