Facts for Prelims (FFP)
Source: BS
Context: India’s share of Web3 developers globally has surged from 3% in 2018 to 12% in 2023, leading among emerging markets, states a report by Hashed Emergent.
The ecosystem is young, with over 50% of developers joining in the past two years, and female participation has risen from 3% to 14% in five years. The country has a thriving Web3 sector with 1,000 startups and received $250 million in investment in 2023, mainly in finance, entertainment, and infrastructure subsectors.
