YourStory <\/em><\/strong>on Saturday officially launched The Metaverse Summit <\/strong><\/a>— <\/strong>a flagship platform for bringing the global blockchain and Web 3.0 ecosystem together to BUIDL a decentralised future powered by Web 3.0 and accelerate innovation in the building blocks of the Metaverse. <\/p>\n “There are so many amazing, young builders in India excited about the opportunities this new Web 3.0 world brings for all. With The Metaverse Summit, <\/strong>The Decrypting Story <\/strong><\/a>and other initiatives in YourStory’s Blockchain Economy franchise, we are showcasing, encouraging and celebrating all their voices as we build towards a decentralised future,” said Shradha Sharma, Founder and CEO, YourStory.<\/strong><\/p><\/blockquote>\n YourStory’s Shradha Sharma launched The Metaverse Summit as part of\u00a0YourStory’s\u00a0<\/em>brand new\u00a0Blockchain Economy<\/strong>\u00a0franchise, which includes a series of key initiatives to foster an enabling environment for innovators, developers, entrepreneurs, and technologists building the decentralised networks that will power the next era of the digital economy.<\/p>\n At a fireside chat at YourStory\u2019s <\/em>launch of The Metaverse Summit, Sandeep Nailwal, Co-founder and Chief Operations Officer<\/strong>, Polygon<\/strong> explained how his Web 3.0 startup\u2019s network is becoming the playground for all Metaverse-building activities and why blockchain technology can power innovation in this space.<\/p>\n In fact, Polygon has emerged as the go-to protocol and framework for building and connecting Ethereum-compatible blockchain networks.\u00a0<\/p>\n Its growing suite of products and scaling solutions have seen widespread adoption with over 3000 applications<\/strong> hosted, more than 1 billion total transactions <\/strong>processed, over 100 million unique user addresses<\/strong>, and $5 billion+ <\/strong>in assets secured.<\/p>\n Despite the industry-leading traction, Sandeep said, \u201cWe still feel we are early in terms of how the blockchain industry is evolving. A lot of it is media hype. We are not there yet. But we\u2019ve always been clear that we\u2019re going to focus on adoption and empowering developers to build real-world apps on Polygon.\u201d<\/p><\/blockquote>\n Read the full story here.<\/strong><\/a><\/p>\n Earlier this year, Facebook\u2019s rebranding to\u00a0Meta\u00a0<\/strong>and its shift in focus towards becoming a Metaverse company renewed interest in the concept. <\/p>\n At\u00a0YourStory\u2019s\u00a0<\/em>launch event for\u00a0The Metaverse Summit<\/strong>, a panel of experts in the Web 3.0 and blockchain space came together to discuss the key building blocks that go into building such a Metaverse.<\/p>\n Ganesh Swami, CEO, Covalent; Kaavya Prasad, Co-Founder & COO, Lumos Labs; Illia Polosukhin, Co-Founder, NEAR Protocol and Ashish Anand, CEO & Co-Founder, Bru Finance<\/strong>\u00a0featured on the panel, and revealed insights into the future of shared, online worlds.<\/p>\n \u201cMetaverse equals opportunity. And there’s been some variant of the 2D and 3D online virtual space for decades. So it doesn’t matter where in the world you are, you’re not constrained by geography. This is why it\u2019s exciting for seven billion people to work together and build a better future,\u201d said Ganesh Swami, CEO, Covalent, whose startup provides a unified API (Application Programming Interface) that brings visibility to billions of blockchain data points.<\/strong><\/p><\/blockquote>\n Read the full story here.<\/a><\/p>\n “Our objective is that India succeeds in building fantastic products on the metaverse. We want to make it as mainstream as the internet. Startups need to build products on it and that is how the metaverse will grow in India, said Neeraj Khandelwal, Co-founder and CTO,\u00a0CoinDCX<\/strong>, at The Metaverse Summit launch event.<\/p>\n With metaverse starting to pick up momentum now, the industry has head room to scale and grow for the next 20 to 30 years, according to him.<\/p>\n CoinDCX became the\u00a0first crypto startup to enter the unicorn club<\/a>\u00a0with a $90 million funding led by B Capital.<\/p>\n Neeraj also launched YourStory\u2019s The Decrypting Story –\u00a0a digital multimedia property for featuring the best blockchain startups, innovative solutions and BUIDLers in the space. The platform will also feature detailed insights, analyses and resources on India\u2019s developing blockchain and crypto ecosystem.<\/p><\/blockquote>\n Read the full story here.<\/a><\/p>\n India has tremendous potential in becoming a global crypto hub,\u00a0<\/strong>but India needs to develop a clear playbook for setting up and operating businesses with crypto, given the prevailing uncertainty in operating crypto projects in the country, said crypto startups and investors at the launch event of\u00a0YourStory’s\u00a0<\/em>The Metaverse Summit, India’s first Web 3.0 conference.<\/strong><\/p>\n During a panel discussion on\u00a0\u201cIndia\u2019s crypto story: the way forward,\u201d Raghu Mohan, Co-founder and CEO, Buidlers Tribe and Lumos Labs<\/strong>, spoke to crypto startup ecosystem stakeholders such as\u00a0Aniket Jindal,\u00a0<\/strong>Co-founder, Biconomy;\u00a0Pranav Sharma,\u00a0<\/strong>Founding Partners, Woodstock Fund;\u00a0Tarusha Mittal,\u00a0<\/strong>Co-founder and CEO, Unifarm; and\u00a0Minal Thukral,<\/strong>\u00a0Executive VP – Growth and Strategy, CoinDCX, to deep-dive into what it’ll take to make India a global crypto hub and build a decentralised future powered by Web 3.0.<\/p>\n \u201cWeb 3.0 is inevitable. What\u2019s more important for India to shine is to capture the associated industries or economy as\u00a0a whole. Another important question is whether we can create jobs on a massive scale? Thus, it is all about creating enabling frameworks so that India captures enormous value,\u201d says Woodstock Fund’s Pranav Sharma.<\/strong><\/p><\/blockquote>\n Read the full story here.<\/a><\/p>\n As\u00a0blockchain technology<\/strong>\u00a0sees increased adoption and applications across segments, the need for cross-blockchain bridging infrastructure has only accelerated.<\/p>\n At\u00a0YourStory\u2019s\u00a0<\/em>launch of\u00a0The Metaverse Summit<\/strong>\u00a0– India\u2019s first Web 3.0 conference –\u00a0Ramani Ramachandran, CEO of blockchain startup Router Protocol,<\/strong>\u00a0highlighted the need for scalable infrastructure layers for the next wave of Web 3.0 innovations.<\/p>\n \u201cIn the traditional world, you have\u00a0Visa\u00a0<\/strong>and\u00a0Mastercard\u00a0<\/strong>doing thousands of transactions per second,\u201d he said, explaining that in Web 3.0, speed and scalability of blockchains is not always high.\u00a0<\/p>\n \u201cSo, Layer 2 protocols and rollups are adding a layer of scalability on underlying blockchains. What these try to do is minimise the amount of transactions performed on the core layer of one chain by taking a bunch of the transactions off it and performing them on a layer 2 chain,\u201d he said.<\/strong><\/p><\/blockquote>\n Read the full story here.<\/a><\/p>\n If you’d like to register for one or more of the other key initiatives under YourStory\u2019s new Blockchain Economy franchise,\u00a0<\/em>visit the website<\/em><\/a>\u00a0or\u00a0<\/em>use this form.<\/em><\/a><\/p>\nHere are the key highlights from the day:<\/em><\/h2>\n
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\nBlockchain, crypto, NFTs and DAOs to build shared worlds<\/h2>\n
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\nMaking the Metaverse as mainstream as the Internet<\/h2>\n
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\nIndia has huge potential to become a global crypto hub<\/h2>\n
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\nScalable blockchains for powering Web 3.0 innovation<\/h2>\n
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