CoinSwitch Exchnage launched Web3 Discovery Fund
CoinSwitch is one of the leading crypto exchanges in India and during the bull-run, it became the first-ever unicorn in crypto companies in India. If any company's valuation is worth 1 billion U.S. dollars, then it is called Unicorn company in India and this value in INR is worth 8000 crore INR, which is a significant amount. These days the crypto situation in India is not good and because of recently introduced regulations and tax guidelines, things are not going well however Indian exchanges are still trying to bring the best for the people and investors. Following the same trend this exchange has launched a web 3 fund. This is one fund that is built with different concepts and focuses on blockchain startups so it's very good for the people who want to invest in technology and the web 3 start-ups where the growth potential is very high.
These days we can see a lot of updates about 3.0 social media and how it is going to impact the way we share and connect with people. Things are getting smarter and technology is holding every day so now the very space is also getting this revolution through the web 3.0 and it is highly expected that this is going to change the way we use social media platforms. Things grow and change is something that we experience after some time and seems like now is a good time to join with 3.0 platforms where we are going to experience a new world along with we are also getting the opportunity to invest and earn a decent income in the coming years.
Seems like this Indian crypto exchange has realized the potential of web 3.0 and This is why they have launched this fund which is built on a different concept but surely this concept is future-ready and has used potential to grow in the coming years. It's obvious that when more people are looking for a new form of technology and another version of social media then they would prefer to invest the money in the same segment where they will feel comfortable and they know that this will be growing significantly as the world is chasing the web 3.0. It is difficult to say now how the government will react to it and how easy it would be for the investors to invest following the current tax guidelines and you will not be surprised if there are some more striction rules implemented by the government or relevant authorities.
"The venture program is a result of our firm belief that India will be the launchpad for population-scale Web3 projects. To realize this vision of #MadeinIndia Web3, we have to identify and enable entrepreneurs and early-stage startups leveraging the potential of Crypto to solve real-world problems unique to India," said Ashish Singhal, Co-founder, and CEO, CoinSwitch.
The crypto segment is growing but it is also important to understand how things are moving ahead and what would be the next move & it's great news that this exchange had realized the potential and predicted that the future of web 3.0 is going to be great. There are many technology levels in the country and these days I hear many videos and even posts in which people are talking about this new form of the Internet so it is likely to happen that more people will try to be part of this discovery fund however it will be interesting to see how the promotion happens and how these exchange plans to bring more awareness for the people and educate them.
Thank you.
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