<p>Bengaluru: India contributed to 17% of all new Web3 developers globally, with a 28% YoY growth on GitHub in 2024. This is the highest YoY developer growth globally, adding more than 4.7 million developers to GitHub, according to a report by venture capital firm Hashed Emergent out on Monday.</p>.<p>Web3 developers are specialised software engineers who design decentralised applications and systems that operate on blockchain technology. India’s presence in the global Web3 developer landscape now accounts for 8% of full-time developers and 12% of total Web3 developers. With its strong growth rate, India is expected to overtake the US and become the world’s largest Web3 developer base by 2028.</p>.<p>Currently, a total of 11.8% of crypto developers are based in India, making it the world’s second-largest crypto developer base.</p>.<p>At the same time, the report pointed out that 51% of the developers still say that the salaries are not in line with global standards.</p>.Govt seeks Parliament nod to spend Rs 51,463 cr extra in current fiscal.<p>Web3 gamers spend double the amount compared to traditional gamers ($220 versus $120 annually), according to the report. They are also more likely to be paying users – 64% compared to 56% in Web2. In fact, India's gaming industry is expected to reach $9.2 billion over the next five years with Web3 gaming emerging as a key contributor driven by higher average revenue per user.</p>.<p>Still, most Indian developers are new to the Web3 space, with over 50% joining in the past two years and 85% under 27. Hackathons remain the main entry point for developers.</p>.<p>India is also the world’s third-largest Web3 founder base, with startups raising $564 million in 2024, up 109% from 2023, bringing the cumulative funding to over $3 billion.</p>.<p>Chandigarh and Delhi lead in crypto adoption among cities, while the Northeast has excelled regionally.</p>.<p>The report urges the adoption of Web3 regulatory, tax and policy frameworks along with positive political framing. It points out that legal gaps created in the absence of a comprehensive regulatory framework for Web3 in India disincentivises businesses from establishing operations onshore.</p>
<p>Bengaluru: India contributed to 17% of all new Web3 developers globally, with a 28% YoY growth on GitHub in 2024. This is the highest YoY developer growth globally, adding more than 4.7 million developers to GitHub, according to a report by venture capital firm Hashed Emergent out on Monday.</p>.<p>Web3 developers are specialised software engineers who design decentralised applications and systems that operate on blockchain technology. India’s presence in the global Web3 developer landscape now accounts for 8% of full-time developers and 12% of total Web3 developers. With its strong growth rate, India is expected to overtake the US and become the world’s largest Web3 developer base by 2028.</p>.<p>Currently, a total of 11.8% of crypto developers are based in India, making it the world’s second-largest crypto developer base.</p>.<p>At the same time, the report pointed out that 51% of the developers still say that the salaries are not in line with global standards.</p>.Govt seeks Parliament nod to spend Rs 51,463 cr extra in current fiscal.<p>Web3 gamers spend double the amount compared to traditional gamers ($220 versus $120 annually), according to the report. They are also more likely to be paying users – 64% compared to 56% in Web2. In fact, India's gaming industry is expected to reach $9.2 billion over the next five years with Web3 gaming emerging as a key contributor driven by higher average revenue per user.</p>.<p>Still, most Indian developers are new to the Web3 space, with over 50% joining in the past two years and 85% under 27. Hackathons remain the main entry point for developers.</p>.<p>India is also the world’s third-largest Web3 founder base, with startups raising $564 million in 2024, up 109% from 2023, bringing the cumulative funding to over $3 billion.</p>.<p>Chandigarh and Delhi lead in crypto adoption among cities, while the Northeast has excelled regionally.</p>.<p>The report urges the adoption of Web3 regulatory, tax and policy frameworks along with positive political framing. It points out that legal gaps created in the absence of a comprehensive regulatory framework for Web3 in India disincentivises businesses from establishing operations onshore.</p>
