According to Arthur D. Little, a management consulting firm, Web3 and Metaverse have the potential to become a USD 200 billion opportunity in India, as per their latest report “WEB3 & METAVERSE — THE RISE OF THE NEW INTERNET & THE INDIA OPPORTUNITY“, unveiled on Thursday.
The firm also reported that Metaverse will become a USD 13 trillion opportunity worldwide by 2030 and has further forecasted that 8 per cent of USD 160 trillion global GDP by 2030 will come courtesy of Web3 and Metaverse.
“The outlook for the Indian Web3 and Metaverse space is robust, with significant investments made in the sector. Content creators and gaming start-ups are leveraging Web3 to directly monetize users, bypassing intermediaries, and corporates are building metaverses to engage more meaningfully with their employees and customers,” said Barnik Chitran Maitra, Managing Partner, Arthur D. Little India & South Asia.
Maitra also shared that for India to become a multi-billion dollar hub for Web3 and Metaverse, it needs to have the collective backing start-ups, investors, corporates, and the government.
“India’s leadership in digital payments adoption could pave the way for the integration of fintech solutions in the Web3 ecosystem,” read the report.
The management consulting firm also has suggested that investors could set up dedicated teams for Web3 and Metaverse and establish accelerator programs. It also suggested that start-ups would develop use cases, work with corporate for their programs and focus on building products for local e-commerce and global customers.
Source: Entrepreneur
