The best Web3 Indian startups we covered this year

10 innovative Web3 startups covered in 2022

It’s been a rough ride for the crypto industry in 2022. Amidst this, Indian crypto and Web3 founders continued to build with a firm belief in their visions and the hope that the bear market will give way to the next wave of mainstream adoption of blockchain apps.

DRIFE

Founded in 2021, Drife’s blockchain-based ride-hailing experience features no commission from drivers, market-dictated pricing, open governance, and transparency.

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CropBytes

CropBytes is a Farmville-esque Ethereum-based farm-simulation game that allows players to own farms, fungible tokens of virtual food, farm animals produce, etc., as well as NFTs, and participate in the in-game economy to earn tokens.

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Huddle01

Built by Ayush Ranjan and Susmit Lavania, Huddle01 is a P2P (peer-to-peer) video calling and communications platform that does not rely on centralised servers. This allows it to achieve low latency and high performance.

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Shardeum

Launched by WazirX founder Nischal Shetty and Omar Syed, Shardeum is reportedly the only network to employ auto-scaling, where it can increase and decrease capacity in an automated manner and achieve infinite scalability. 

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FanTiger

Ex-Gaana CEO Prashan Agarwal’s startup FanTiger connects artists with fans through NFTs. On the platform, owning a fractionalised NFT of a song allows the holder to earn royalty income based on the song's performance on Spotify, YouTube, Gaana, etc.

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Arcana Network

Providing a comprehensive stack to help blockchain app developers build secure, privacy-preserving apps is Arcana, a blockchain startup founded in 2019 by Mayur Relekar, Aravindh Kumar, and Abhishek Chaudhary.

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Rario

Rario is one of India’s earliest cricket-based NFT platforms with a marketplace feature for users to buy, sell, and trade Rario NFTs, and presenting cricket fans with a digital collector's experience.

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Spheron

Spheron acts as a deployment aggregator startup, helping developers deploy their full-stack apps to the decentralised cloud. It provides a developer experience for deploying instantly, scaling automatically, and serving personalised content on decentralised networks.

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LightHouse

Lighthouse Storage is a blockchain startup developing a protocol to store files perpetually (or through a permanent ownership model). The startup facilitates permanent storage of files on Filecoin—a system of persistent data storage built on IPFS (InterPlanetary File System).

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LegitDoc

With LegitDoc, the startup Zupple helps issue tamper-proof digital documents to stakeholders that can be verified from anywhere around the world, within seconds.

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WazirX, CoinSwitch publish annual reports

According to a recent annual report from CoinSwitch, only 8% of the 19 million investors on its platform are women. 

However, the report also found that investing patterns between men and women are largely similar in India, with both groups allocating a similar percentage of their portfolios towards the top eight crypto assets.

WazirX also released its annual report this week, which found that 27% of first-time crypto buyers on its platform purchased Shiba Inu (SHIB) tokens, with Tron (TRX) and BTC coming in at 11% and 8%, respectively. 

Unlike CoinSwitch, WazirX found that male users on its platform were more likely to invest in meme tokens and gaming tokens, while female users primarily traded in blue-chip tokens like BTC and Ethereum (ETH).