On the other hand India has also become no. one Defi adapter in terms of value received On-chain.
Indian blockchain industry is growing rapidly. Along with this Indian blockchain startup ecosystem is also flourishing.
India has seen new tech talent going global with blockchain and crypto related products.
India’s Polygon blockchain has already become the no. one Ethereum solution chain.
Many other blockchain based startups are also emerging.
This is the best time to initiate your blockchain based startup.
Indian investor ecosystem is also interested to invest in blockchain related businesses.
If you are a blockchain developer or just an entrepreneur interested in web3 growth , then founding a blockchain based crypto, Defi, NFT, Metaverse related startup will be the best choice for you.
But to begin this journey, first thing you would need is an attractive business idea that also has demand in the market.
Here are some blockchain based startup ideas that you can found in India and also go global with it –
Web3 News and Media publication
Spreading Web3 and Blockchain information is probably the easiest blockchain related startup.
It is the simplest and easiest. However the way you actually do it can become the reason for success or failure.
You can either start with a small blog or can also go all in it and begin a website fully coded on blockchain or use blockchain based publication platforms such as Mirror.XYZ
All you need for this is the understanding of the industry and market. Even if you are not skilled to build blockchian products, you can still start this business.
Currently market is new and people are eagerly waiting for all kind of news bites related to NFTs, Crypto, Metaverse, Web3 and Defi.
There have been some established players like Decrypt, The Milk Road, Cointelegraph, Cryptoslate etc.
This is the perfect time to enter in web3 news and media industry as market is down and as it will rise many players will come at once.
Crypto and NFT real estate platform
Real Estate sector faces one big problem of authentication. Even though there are multiple quality and authority checks before buying and selling any property still people get fooled easily.
This can be solved by blockchain and NFTs.
NFT or non-fundigble token represents unique ownerships of an asset – digital or physical.
And since they are based on smart contracts and blockchain, they are easily trackable and proof of ownership can identify whole history of that property.
Blockchain and smart contract based platforms can make this property buying and selling process seamless.
One such example is RealX, launched in 2021 this Indian blockchain startup is working in the real-estate segment.
This is a great time and great opportunity to build your blockchain based platform and revolutionize the real estate market.
Web2 social apps are jumping into web3 with Instagram and Twitter integrating NFT features on their platform.
After gaming, social media is the second most crowded market for blockchain based startup but the good news is that no one has yet not cracked the code.
Many blockchain based social media platforms ask for some investment to post content on the platform which is actually just fee of performing transaction (such as posting, creating, liking, commenting etc.) On-Chain.
Now this model is impossible to succeed, because in today’s time of free social media apps, who will pay to create a post?
Then there are some projects like MIND, allowing users to create profile and share content for free.
However , there is no mainstream blockchain based social media app.
Therefore this is a great opportunity to tap the market because who doesn’t like to use social media when it comes with advance secure and privacy driven features of blockchain?
An idea is just a beginning to your journey of entrepreneurship. After choosing the best idea that suits your skills, experience and interest you have to look for ways to finance it.
There are many options available such as bootstrapping or looking for an angel investor.
Builders and established entrepreneurs in web3 ecosystem like Nischal Shetty (WazirX) are highly active on social media to engage with the community. That is the best time to contact them and pitch your startup idea for funding and mentoring.