Post
Is the crypto environment in India good?
Replies
Asia, especially India, is a central region that can generate real and meaningful data. India's first advantage is its young population. With a median age of about 28, India has a younger population than Indonesia (30) or Vietnam (32). This population group has shown a rapid acceptance and enthusiasm for new technologies. The second advantage is its large population size. India has a population of over 1.4 billion, and only about 8% of people currently hold cryptocurrencies, providing great potential for the expansion of Web3 technology. The third advantage is development capabilities. India has many excellent engineering universities and about 9.75 million developers who have demonstrated excellent development capabilities through successful Web3 projects such as Polygon.
Sure. India has established an extensive Web3 ecosystem with more than 1,200 projects operating in various fields. To date, Indian Web3 startups have attracted more than $3 billion in total investment, with particularly strong growth in 2024, receiving $564 million in investment, more than double that of 2023.
Since 2023, the Indian crypto investment market has shown a clear recovery trend. It ranks first in Chainalysis's cryptocurrency adoption index and scores high in both CEX and DEX fields.
The Web3 gaming market in India has grown by securing a user base centered around Generation Z. In particular, 50% of gamers are under the age of 25, indicating that young people can quickly adapt to new gaming models. The ARPU of Web3 games reached $220, much higher than the $120 of Web2 games. Among Web3 games, the proportion of paying users reached 64%, the proportion of high-spending users reached 11%, and the revenue structure was better than that of Web2 games, with proportions of 56% and 8% respectively. In addition, 38% of traditional game players have experienced Web3 games, and 60% of them choose to continue to participate in them.
India has become a global hub for entrepreneurs and developers, leading innovation in various Web3 fields. It has become the largest developer market, accounting for 12% of the global cryptocurrency developer community. According to a survey of more than 500 developers, India's Web3 ecosystem is growing rapidly with young talent, entrepreneurial energy and expanding global exposure. Through university partnerships and flexible working models, an ecosystem has been formed to support its growth.
