Crypto business ideas – Shark Tank India season 2 is coming soon and with this the craze for startup talks will also come back.
Meanwhile the crypto and web3 market is also growing and many new founders are now interested in crypto startups.
Many young entrepreneurs are willing to have their crypto startup but it is not that easy to start a web3 business.
First of all there are numerous options and many problems are yet to be solved as the web3 world is still in its beginning stage.
So as a founder it is obvious to get confused.
It is hard to choose one business idea among many and stick to it while expecting enough growth, demand and profits.
How to start your crypto startup?
First step to found any startup is to come up with the idea. This is the most crucial and difficult part.
Your startup idea should match with your interest, expertise, knowledge and skills. Because if even you won’t be aware of your product and system then how you will lead your team?
After coming up with the idea you have to make a plan like what are you going to create and what team you need for it?
In the beginning try to keep the team as small as possible. Some operations can be outsourced and for some job roles you can hire freelancers as well.
After that you have to assess its cost such as how much you need to begin and to launch an MVP? And most importantly how you are going get that money?
Before going all in market , first launch an MVP (minimal viable product). Get people’s reaction and find your product market fit.
Try to enter in market as soon as possible and learn on the way.
Many founders are not technically skilled and experienced so they struggle to find a business idea in the crypto, metaverse, NFT and blockchain space.
Here are some crypto business ideas that anyone can start with any level of education.
These web3 startup ideas are easy to start in India –
Crypto industry is yet in beginning phase in India so there is not much awareness among people about it.
Some people don’t even understand what it exactly is and they have already invested in bitcoin and altcoins.
When these coins fails to their expectations of becoming millionaires then investors cry.
Therefore, to spread awareness among Indians you can provide must have knowledge of blockchain and how it works?
Starting an app or YouTube channel or online course can give you a fresh start in the ecosystem.
It is not much costly and if you have real knowledge of the technology or its finance aspect than people will soon be trusting you.
And who knows your startups becomes next ed-tech unicorn of the country?
Crypto cloud mining
Crypto mining is a computational process to create new coins by solving mathematical problems. It is done through systems and these are called miners.
Crypto cloud mining is also one of the best ways to earn passive income in the crypto space.
Though it requires some investments in the beginning.
Crypto content creation
As the market is growing even non crypto startups are extending their features with NFT and metaverse products.
Startups need content to grow through content marketing.
All it requires is knowledge of the topic and content creations skills.
It can be video production or designs for social media.
It is one of the easiest and simplest business models to start.
Crypto tax consultation
Virtual assets don’t have their separate tax regulations.
Indian government introduced 30% income tax and 1% TDS for crypto assets. However, people are still uncertain about taxation for digital assets.
You can start a tax consultation firm to educate and help people on their crypto taxes.
Play to Earn game
Play to earn as the name suggests are games that combine NFT, Metaverse, Decentralized finance and gaming all together and it is also known as NFT games or GamiFi.
Most of these games are based on Ethereum and Solana blockchain and can be played through their official platforms or through NFT Marketplaces like Magic Eden.
If you are interested in gaming and possess engaging imaginations for a virtual world then launching your own play to earn game will be the best crypto startup idea for you.
Although it may require a lot of money but if you have attracting concept then attracting investors won’t be that difficult.
Even if the market is down, investors are still willing to put their money in attractive web3 businesses.
The web3 , blockchain and crypto space is yet to be explored. Hence there are more opportunities going to come in the future.
Instead of waiting for the best business idea just start with whatever you can and if that works you can always change your revenue models, marketing, technology and whole business plan anytime in the future.
Read More: Best Blockchain startup ideas in 2023