Hashed Emergent, a venture capital firm focusing on web3 innovations in emerging markets, has released its comprehensive analysis titled 'India's Web3 Landscape 2023'.

This second edition of the flagship report, created in collaboration with knowledge partners including KPMG in India and CoinSwitch, examines India's burgeoning role in the web3 domain.

The findings highlight the country's dynamic startup ecosystem, Bangalore's emergence as a web3 hub, and the increasing role of blockchain across various sectors.

India's Position on the Global Web3 Stage Tak Lee, the CEO and Managing Partner of Hashed Emergent, emphasized India's significant progress in Web3 adoption, attributing it to a large economy, skilled tech talent, and a young demographic.

The report suggests that while regulatory frameworks are inching forward, more robust policies could further catapult India's web3 sector into global leadership. With over 1,000 startups and a keen developer community, India is creating a vibrant landscape for web3 innovation.

Krishna Tyagi from KPMG in India pointed out the versatility of blockchain technology in enabling new use cases like DeFi and real-world asset (RWA) tokenization, highlighting the opportunity for Indian tech talent and businesses globally.

Meanwhile, Parth Chaturvedi of CoinSwitch Ventures drew attention to the continued interest in cryptocurrency trading and the burgeoning number of web3 startups despite regulatory and investment challenges.

The Rise of Web3 Gaming and Developer Engagement Ishank Gupta from Kratos Gaming Network (KGeN) and Denver Dsouza from Devfolio shared insights into the gaming sector and developer engagement within web3.

The report indicates a promising future for web3 gaming in India, supported by an increasing willingness among gamers to engage with and spend on web3 games.

Furthermore, India's share of global web3 developers has risen significantly, underscoring the country's pivotal role in the web3 evolution.

"India has claimed the top spot for on-chain adoption in 2023 among 150+ countries, with over 35 million trading accounts on the top Indian exchanges."

This statement from the report not only underlines India's leading position in web3 adoption but also showcases the potential for continued growth and innovation within the sector.

The 'India's Web3 Landscape 2023' report represents the country's growing influence and potential in the global web3 ecosystem.

A comprehensive analysis of the current state and future prospects offers valuable insights for investors, entrepreneurs, and policy-makers looking to navigate and contribute to India's burgeoning Web3 landscape.