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According to Nischal Shetty, Co-founder and CEO of WazirX, the confluence of play-to-earn games and the Metaverse in Web 3.0 will transform how gaming assets get traded.
“In Web 3.0, the assets are limited, created by gamers, and sold to other gamers,” he explained, adding, “This is how gaming and Web 3.0 are going to come together, where ‘earning’ becomes one of the first use-cases, apart from leisure.”
Web 3.0 offers a vision for the next stage of internet evolution where transactions are powered by blockchain technology and where people operate on decentralised and quasi-anonymous platforms.
The WazirX CEO also said stablecoins can become a window for innovation in India, before the launch of a CBDC (Central Bank Digital Currency). Stablecoins are cryptocurrencies that attempt to peg their market value to some external reference, like the US dollar.
“Stablecoin makes the assumption that — because it uses fiat currencies or legal tender as its base — it creates a sense of stability, and has a better footing than other crypto assets,” N Nappinai, a Supreme Court of India Senior Advocate, explained.
The Interview
WooCommerce CEO Paul Maiorana and Group Product Manager at Newfold Digital Drew Wilde discuss the role of ecommerce enablers in helping brands grow their businesses in the digital space.
Editor’s Pick: Phab
For 13 years, Ankit Chona was the Managing Director of Havmor Ice Cream Limited (HIL). But after the brand got acquired, he wanted to turn to healthy products.
He started Phab, a healthy snack brand, that started offering protein powders and gradually shifted to other items such as snack bars, protein shakes, and protein bombs. Read more.
Startup Spotlight
Developing sustainable fabrics
The fashion industry is one of the world’s biggest polluters as it reportedly requires 9,000 litres of water to extract one kilogram of cotton fibre.
Founded by Shreyans Kokra, Surat-based natural materials science startup Canvaloop claims to do the same with just 10 litres of water by using other plant materials or agricultural waste like hemp, banana plant, or pineapple leaves. Read more.
Startup Spotlight
Beauty brand for conscious consumers
With COVID-19 shifting consumer perception to a more conscious way of living, an increasing number of people are looking at clean beauty options.
Asha Jindal Khaitan and her daughter-in-law Sukriti Jindal Khaitan launched Asa Beauty, which uses natural, ethically sourced, and sustainable ingredients for its formulations. Read more.
Before you go, stay inspired with…
“For a business to stay its course and solve real-world problems at scale with long-standing impact, knowledge capital has to take precedence over speed-to-market expediency.”
— Praval Singh, VP – Marketing & Customer Experience, Zoho
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