CoinDCX's Unfold 2023: Shaping India's Web3 leadership

CoinDCX's Unfold 2023: Shaping India's Web3 leadership

The three-day event wrapped up with resounding success, bringing together over 2,500 participants.


Mumbai: Unfold 2023, India’s largest Web3 event organised by CoinDCX from 19 -21 October 2023, was wrapped up on a high note. The sheer scale of the event and the overwhelming success reflects the promising future of Web3 in India. This objective is no less than propelling the nation to the forefront of Web3 leadership, thereby charting the course for the next phase of the internet revolution.

Unfold 2023 witnessed a remarkable turnout of over 2,500 participants during its three-day duration. Eminent leaders from the Ministry such as Priyank Mallikarjun Kharge, Minister IT/BT Karnataka, Jayant Sinha, Chairman PSC-FINANCE and MP and Rajeev Gowda, Vice Chairman, Karnataka Policy and Planning Commission, former- MP, Rajya Sabha, spoke at the event, sharing a firm belief in the potential of Web3 to generate employment opportunities and revolutionize the internet landscape. The Event featured participation both in person and virtually, with over 60 distinguished global Web3 leaders and entrepreneurs, including notable figures such as Base founder Jesse Pollak, Ava Labs founder Emin Gün Sirer, Solana Labs co-founder Raj Gokal, Balaji Srinivasan, BitOasis co-founder and CEO Ola Doudin, and Aptos Mo Shaikh.

Unfold 2023 hosted Asia's largest multichain multiprotocol hackathon, drawing over 700 web developers who competed for a total prize pool of $85,000. The Demo Day, which was also part of the event, saw some exceptional ideas from the entrepreneurs. The perks of winning the Demo Day included a $1 million pool of funding from CoinDCX Ventures and some of the top-tier Web3 investors, including Pi Ventures, Mumbai Angels, Global Coin Research, Dorahacks Ventures, Hashed EM, Draper Dragon, and IOSG Venture. By every metric, the event stood as the grandest and most significant in the realm of Web3.

CoinDCX also unveiled its upgraded app, offering Indian crypto investors and traders a seamless experience with integrated advanced features from CoinDCX Pro. The user-friendly app launched during Unfold 2023 ensures secure and compliant trading in Virtual Digital Assets (VDAs).

Delivering a keynote at Unfold 2023, Priyank Kharge extended his support for Web3 innovation within the state. He proposed the exploration of a regulatory sandbox for development and innovation until a comprehensive framework is established. “The Government of Karnataka is willing to Listen, Learn and Adapt new technology and we are here to support the industry.In the burgeoning realm of Web3, our government is committed to not only observe and absorb but also to evolve with this digital frontier. We eagerly anticipate the establishment of a regulatory sandbox,” he said.

Jayant Sinha praised CoinDCX for its outstanding initiatives in fostering synergy among developers, startup founders, and other participants within the Web3 ecosystem during Unfold 2023. “India and Indian digital infrastructure has been recognised globally. With the world's largest open digital ecosystem and a passionate developer community, India is poised to lead the global Web3 revolution. The presence of so many developers at Unfold 2023 hackathon is a testament to this vision,” he added.

Speaking at Unfold, CoinDCX co-founder Sumit Gupta said, “In this transformative decade, the VDA market cap is poised to surge by 15-20%, paving the way for a future that holds incredible promise. By 2030, we anticipate a landscape where over 1 million developers will be actively crafting the web3, ushering in web3 applications that will engage over 1 billion users. Our commitment at CoinDCX extends beyond building a large company. We are dedicated to crafting an open, inclusive, and efficient internet, right here in India, and sharing it with the world. Together, we will build for the long-term and build the right way.”

"We extend our heartfelt gratitude to the distinguished speakers, valued partners, sponsors, developers who participated in the hackathon, and innovative startups who united with us in this remarkable journey at Unfold 2023. Together, we have taken substantial strides in constructing a unified and collaborative Web3 ecosystem," Sumit added.

Unfold 2023 stands as a monumental achievement, propelling India to the forefront of the global Web3 arena. With hundreds of startups, five unicorns, and a projected contribution of $1.1 trillion to India's GDP by 2032, this event underscored the imperative of fostering a unified Web3 ecosystem. India's pivotal role in grassroots crypto adoption, housing 11 per cent of the global Web3 developer pool, solidifies its position as a Web3 powerhouse. Anticipating a 120 per cent growth in blockchain talent, the nation is poised for remarkable progress. The retail and financial sectors, contributing 37 per cent and 15 per cent respectively, will drive Web3 and metaverse adoption, illuminating India's dynamic potential. Unfold 2023 has firmly established India as a trailblazer in the ever-evolving Web3 landscape, marking a significant leap towards a collaborative and thriving future.