Get All Access for $5/mo

Blockchain's Whizman Sandeep believes that India has the capacity and capability to become a superpower in the Web3.0 space and also can become the digital

By Saptak Bardhan

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Polygon
Sandeep Nailwal, co-founder, Polygon

Sandeep was developing products and technology for other blockchain companies before he founded Polygon. Being very active in the blockchain community in India, he met his other co-founder, Jaynti Kanani. The company was established after the founders reached a conclusion that even though Ethereum was a great innovation, it would not be able to cater to large user bases due to it being inherently decentralized yet having a very low bandwidth. And that's how Polygon was born. Emphasising on the existence of blockchain, Sandeep Nailwal explained, "From 2020-2022, we have seen massive product market fits. Gaming, NFT art and DeFi all are all huge segments. They are all getting stress-tested and now that the industry has very strong product market fits, it is not going anywhere. It has made its place as one of the primary industries in the world."

He believes that India has the capacity and capability to become a superpower in the Web3.0 space and also can become the digital goods factory of the World. He also highlights the wage disparity that has now been diminished due to the crypto. "It is a good way to bring a lot of money into India with developers who are very good at their work and would get larger amounts of salary which is one of the reasons why we keep pushing on the education front," highlights Nailwal. According to Nailwal, the fun part of crypto is that raising funds is easier as compared to Web2.0 startups. Most of the crypto companies have off-shore entities that issue tokens. Global investors pay directly to the off-shore entities and don't need to make direct investments in India.

"I am a de-facto investor in all the start-ups. I am now a part of a lot of Web3.0 startups as an investor which I look upon as my way of giving back to India," said Nailwal. He advises young entrepreneurs to not be deterred by the new regulations and find a way to keep building, whether it is in India or outside of India because there is ample capital for them to build an ecosystem and funds. "As an entrepreneur, out of the 300 working days, you'll only find that there are 30 good days for you to work and 5-6 really good days that keep you going. If you work hard, those days will come to you and you'll realize that this is the right path that you are taking," said Nailwal.

For the sixth edition of Entrepreneur's Creative Inc, we recognize 25 creative artists and brand builders selected on the basis of qualitative analysis and consideration from industry leaders and Entrepreneur India Editors, who reviewed hundreds of nominations – under the cultural economy. The people featured in the ensuing pages are the champions of the value of design excellence. How some of these creators are using design to address some of society's most pressing problems showcases their potential for the future. Our ambition with this issue is to explore what role design and creativity play to make a better world.

Saptak Bardhan

Former Trainee Writer

Former Trainee Writer
Science & Technology

Why We Shouldn't Fear AI in Education (and How to Use It Effectively)

Facing resistance to new technologies in the educational process is nothing new, and AI is no exception. Yet, this powerful tool is set to overcome these challenges and revolutionize education, preparing students and professionals for a future of unparalleled efficiency and personalized learning.

Growing a Business

How to Determine The Ideal Length of Your Marketing Emails Your Customers Will Actually Read

Wondering how long your marketing emails should be? Here's what consumers say — so you can send them exactly what they like.

Business News

A Former Corporate Lawyer Now Makes Six Figures on YouTube — Here's How She Does It

Here are the secrets to starting and growing a successful YouTube channel, according to a YouTuber with millions of subscribers.

Business News

New Southwest Airlines Major Investor Wants to Force Out CEO, Slams Company's 'Stubborn Unwillingness to Evolve'

Elliot Investment Management announced a $1.9 billion stake in the Dallas-based Southwest Airlines on Monday and is urging shareholders to vote for new leadership.

Business News

Elon Musk Threatens to Ban Employees from Using Apple Products, Says Will Lock Devices in 'Cages'

The Tesla founder sounded off on X following Apple's 2024 Worldwide Developer Conference on Monday.