By - Unfold as the Industry Forum for Growth: As both India and the global Web3 market mature, Unfold 2024 stood out by uniting developers, investors, VCs, and emerging unicorns in the Web3 space. It has firmly established itself as the go-to industry forum, driving collaboration, innovation, and accelerating the next wave of Web3 growth.
- India’s Emergence as the Developer Capital: With over 600 developers and 200+ high-quality projects showcased during the hackathon, India’s growing strength in AI and Web3 positions it as the global developer hub, led by a new wave of young founders accelerating Web3’s growth.
- Powerful Indian Web3 Projects Leading the Charge: Unfold 2024’s Demo Day showcased the surge of high-quality Web3 projects emerging in India, validating the narrative that Web3 unicorns will outpace Web2. The event featured a committed $100,000 investment, fueling groundbreaking projects and further cementing India’s role as a leader in the Web3 revolution.
Bengaluru, December 06, 2024 – Unfold 2024, India’s premier Web3 event and larget multi-chain multiprotocol hackathon organized by CoinDCX from December 1-3, concluded with extraordinary success, affirming India’s pivotal role in the future of Web3. As both India and the global Web3 markets mature, Unfold 2024 has emerged as the key platform uniting developers, investors, VCs, and emerging unicorns in the Web3 space. The event has firmly established itself as the industry’s go-to forum, driving collaboration, fostering innovation, and accelerating the next wave of Web3 growth. It continues to prove instrumental in shaping the Web3 ecosystem and accelerating India’s trajectory as a global leader in the space.
Ashima Batra, Additional Director at FIU India, inaugurated Unfold 2024 and praised CoinDCX for its outstanding initiatives in fostering synergy among developers, startup founders, and other participants within the Web3 ecosystem during Unfold 2024. “At FIU India, our mission is to safeguard the financial ecosystem, ensuring that it remains secure and resilient against illicit activities such as money laundering and terror financing. As we embrace the transformative potential of Web 3 technologies, we must strike the right balance between growth and regulatory oversight. We emphasize the critical need for responsible innovation that prioritizes financial integrity.” Trust, compliance, and collaboration are the cornerstones of building a robust ecosystem, and the industry must recognize that the future of innovation hinges on shared responsibility.
Unfold 2024 witnessed a turnout of over 1500 participants during its three-day duration., with over 60+ distinguished global Web3 leaders and entrepreneurs, including notable figures such as Sumit Gupta, co-founder, CoinDCX, Sandeep Nailwal, co-founder, Polygon, Ola Doudin, co-founder & CEO, BitOasis, Avery Ching, co-founder & CTO, Aptos, Vishal Kankani, Principal, Multicoin Capital, Dilip Chenoy, Chairman, Bharat Web3 Association, Mark Rydon, Founder, Aither, and Keone Hon, Founder, Monad.
One of the key highlights of Unfold 2024 was India’s emergence as the global developer capital. With over 600 developers and 200+ high-quality multi-protocol, multi-chain projects showcased during the hackathon, the event highlighted India’s growing strength in Web3. The country is rapidly positioning itself as the epicenter for developers, fueled by a new wave of young founders who are playing a pivotal role in accelerating the adoption and growth of Web3 technologies. This momentum sets the stage for India to lead the developer-driven Web3 revolution, paving the way for a global shift in digital innovation.
Unfold 2024’s Demo Day served as a powerful platform to showcase the surge of high-quality Web3 projects emerging from India. These projects not only validate the growing narrative that Indian Web3 unicorns are poised to outpace their Web2 counterparts, but also highlight the immense potential of India’s Web3 ecosystem. Demo Day offered startups funding opportunities of up to $1 million, providing critical support to fuel their growth. Unfold is committed to driving India’s ambitious goal of developing 1,000 unicorns by 2030, and scaling venture capital and private equity investments to empower the next generation of transformative Web3 ventures.
At Unfold 2024, CoinDCX also unveiled India’s first homegrown crypto custody solution, Bharat Custody—a third-party custody service designed for Indian exchanges and VDA companies. This solution ensures the localized storage of crypto assets, serving over 3 crore Indian investors. With a focus on independent and transparent governance, Bharat Custody will operate with strict oversight, public reporting, and a dedicated consumer protection fund. Featuring global-standard security and compliance, it will leverage advanced encryption, air-gapped infrastructure, and AI-driven fraud detection to safeguard assets.
Speaking at Unfold, Mr. Sumit Gupta, Co-founder, CoinDCX said, “Unfold 2024 has once again showcased the immense energy and potential of India’s Web 3.0 ecosystem. It’s truly inspiring to witness how far we’ve come since our journey began in 2022, with the vision of positioning India as a global leader in the crypto space. As we experience a new bull market, with Bitcoin hitting significant milestones, it’s crucial that we seize this opportunity for growth.”
“Whether you are new to the space, an investor, or a builder, the real value lies in investing in yourself—through education, collaboration, and innovation. India’s crypto ecosystem is poised for tremendous growth, and it’s exciting to see the role we all play in shaping its future. Together, we are not just participants in this revolution, but leaders who will define the next era of Web 3.0.” Sumit added.
While announcing Bharat Custody, Sumit Gupta, Co-Founder of CoinDCX, said, “The need for a secure, safety-first, and uniquely Indian crypto custody solution has never been more critical. With over 3 crore investors already part of India’s growing crypto ecosystem, the demand for a solution that fosters trust and confidence is undeniable. Bharat Custody is built to support the entire industry, catering to all crypto exchanges and VDA companies, not just CoinDCX. Currently, there is no localized custody solution in India, leaving a crucial gap that the industry must collectively address.
Inspired by the National Securities Depository Limited’s role in capital markets, Bharat Custody will be entirely managed and hosted in India. Its mission is to empower Indian crypto investors and support exchanges by providing localized asset security and independent governance. This initiative marks a major step forward in India’s journey to becoming the Web3 capital of the world.”
About CoinDCX
Established in 2018, CoinDCX is the largest crypto exchange in India, trusted by over 15 million registered users. Our mission is simple: to provide easy access to Web3 experiences and democratize investments in virtual digital assets. We prioritize user safety and security, strictly adhering to KYC and AML guidelines.
CoinDCX’s Web3 arm Okto Chain is leveling up chain abstraction by building a fully expressive orchestration layer.
Through CoinDCX Ventures, we have invested in over 15 innovative Web3 projects, reinforcing our dedication to the Web3 ecosystem. Our flagship educational initiative, #NamasteWeb3 empowers Indians with crypto knowledge, preparing them for the future of virtual digital assets. CoinDCX’s vision and potential have gained the confidence of global investors, including Pantera, Steadview Capital, Kingsway, Polychain Capital, B
Capital Group, Bain Capital Ventures, Cadenza, Draper Dragon, Republic, Kindred and Coinbase Ventures.
At CoinDCX, we are leading India towards the decentralized future of Web3 with an unwavering commitment to safety, simplicity, and compliance.
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