CoinDCX’s Unfold 2023: Build for Web3, Innovate the Future

Team Unfold

Unfold 2023, powered by CoinDCX from October 19 to 21, 2023, marked a historic moment in the Indian Web3 landscape. With over 2,500 participants and distinguished speakers, including government dignitaries and global Web3 leaders, this event has solidified India’s position as a Web3 powerhouse.

Held over three days at KTPO, Bengaluru, Unfold 2023 was a comprehensive gathering for Web3 enthusiasts. It featured  20+ panel discussions, Asia’s largest multi-chain and multi-protocol hackathon, a Demo Day, and interactive booths with innovative Web3 and blockchain startups. The event provided ample networking opportunities, including after-parties and social events. Attendees could explore the booths, chat with founders, and connect with the global Web3 community to understand its impact worldwide.

Unfold 2023 goes beyond the boundaries of a mere event; it emerges as a celebration of India’s journey to worldwide Web3 excellence.

Day 1: A Grand Beginning

Unfold 2023 embarked on its remarkable journey with a grand opening ceremony, graced by the esteemed presence of Shri Priyank Mallikarjun Kharge, Minister for IT/BT Karnataka. What set this inaugural moment apart was Shri Kharge’s unique decision to ride the metro to reach the event at Whitefield, effectively bypassing the traffic congestion of Bengaluru. This choice made a powerful statement about embracing technology from the beginning and set the tone for an event focused on innovation and progress.

Today, I opted for the Purple Line for my work commute and it was a great ride.

– A 30-40 minute ride from Vidhana Soudha to Whitefield.
– An hour spent at the event.
– Back to the office for a Cabinet meeting.

Additionally, a couple of wonderful conversations onboard helped.… pic.twitter.com/vkMkm0Ak9p

— Priyank Kharge / ಪ್ರಿಯಾಂಕ್ ಖರ್ಗೆ (@PriyankKharge) October 19, 2023

 He said,”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. We firmly believe that a thriving startup ecosystem, especially in disruptive technologies like blockchain and Web3, will forge numerous job opportunities.”

Day 1 also saw the launch of a report by the Bharat Web3 Association that highlighted key insights into the Indian Web3 landscape, including the growth of over 900 Web3 startups, projections of contributing $1.1 trillion to India’s GDP by 2032, and India’s prominent role in grassroots crypto adoption.

As a part of the series of keynote talks at the event – Sumit Gupta, Co-founder of CoinDCX, spoke about the transformative potential of the Virtual Digital Asset (VDA) market. He highlighted that the Web3 industry is poised for remarkable growth, with an anticipated market capitalization of approximately $7 trillion by 2030. The foundation for Web3’s widespread adoption has been established, and as we look ahead to the year 2030, several transformative developments are expected to unfold. 

This includes a thriving community of over 1 million developers actively engaged in Web3, Web3 applications reaching and impacting more than 1 billion users, the integration of traditional assets onto blockchain networks with a total value locked (TVL) exceeding $10 trillion, an estimated 50% of internet users embracing on-chain identities, and the significant transition of major Web2 industry leaders onto blockchain technology. Notably, India is poised to play a pivotal role in this Web3 evolution, with expectations of fostering over 100 unicorn companies within the Web3 domain, further solidifying its prominence in this dynamic landscape.

On Day 1 and the following day, more than 60 renowned global Web3 leaders and entrepreneurs joined the event, participating both in person and virtually. Notable figures like Jesse Pollak, Founder of Base; Emin Gün Sirer, Founder of Ava Labs; Raj Gokal, Co-Founder of Solana Labs; Balaji Srinivasan; Ola Doudin, Co-Founder and CEO of BitOasis; and Mo Shaikh of Aptos graced the occasion with their insights and expertise.

Hackathon Brewing Next Door!

As Unfold 2023 began to unravel in one of the halls at the event – something equally exciting was brewing next door! More than 700 developers from across the country had gathered to work on challenging problem statements that could drive the mass adoption of Web3.

Representatives from the Hackathon partners, including Sui Protocol, Router Protocol, PUSH, SolidityScan, NEAR, Wormhole, Avalanche, Superteam DAO, Liminal, and Frontier Wallet/Self Chain, were on hand to provide guidance and mentorship to the participants.

The initial day was not just about individual endeavors; it was the birth of teams, ideas, and the spirit of collaboration. As participants gathered, they formed teams, connecting with like-minded individuals who shared their vision for Web3 innovation. This initial phase laid the groundwork for what would become a whirlwind of creative activity, showcasing the immense potential of collaboration in driving technological progress.

Day 2: A World of Innovation

The event’s second day was marked by a surge of creativity as participants delved into the act of creation. Workshops, mentorship sessions, and technical insights provided participants with the tools they needed to bring their Web3 ideas to life. The palpable energy in the room and the atmosphere of creative potential set the stage for what was to come.

Shri Jayant Sinha, Chairman of PSC-FINANCE and Member of Parliament (MP) graced the occasion with his presence for a fireside chat on October 20, 2023. Shri Sinha expressed his elation as he took the stage to address a gathering of more than 700 developers who had converged from various corners of India to partake in the hackathon. 

Drawing from his personal journey as a coder and developer, he imparted valuable insights and wisdom, serving as a source of inspiration to the enthusiastic crowd. His words resonated with those eager to embark on their coding odyssey, igniting a newfound sense of purpose and determination within each participant. 

Shri Sinha lauded CoinDCX for fostering synergy among developers, startup founders, and other participants within the Web3 ecosystem. He recognized India’s potential to lead the global Web3 revolution with its vibrant open digital ecosystem and passionate developer community.

The hack for developing a killer app 👇

Hear from Shri @jayantsinha, Hon’ble Member of Parliament from Jharkhand & Chair of the Standing Committee on Finance.#Unfold23 pic.twitter.com/FOLp99ku6N

— CoinDCX: Making Crypto Accessible to Indians (@CoinDCX) October 23, 2023

Unfold was also honored to host Shri. Rajeev Gowda, the Vice Chairman of the State Institute for Transformation of Karnataka.

Day 2 also witnessed the Demo Day, which offered 12 founders chosen from 60 who applied, an opportunity to showcase their projects in front of marquee investors like CoinDCX Ventures, Pi Ventures, Mumbai Angels, Global Coin Research, Alphawave Global, Dorahacks Ventures, Hashed EM, Draper Dragon, and IOSG Venture. This pool of potential funding, amounting to $1 million, was an exciting prospect for all participants.

Partners of Unfold 2023

Unfold 2023 achieved remarkable success thanks to its collaboration with esteemed partners, including the Department of IT, BT and S&T, Startup India, Digital India, and Bharat Web3 Association.

Furthermore, the event was made possible through the invaluable support of organizations such as Sui Network, Avalanche, Wormhole, Okto, Self Chain, Liminal – Custody Solutions, Superteam, Push Protocol, Router Protocol, and Spheron Network. These partners played a pivotal role in ensuring the event’s success and brought a diverse spectrum of expertise to the Web3 landscape.

In addition to these significant contributions, Unfold 2023 also received essential support from other partners, including Instadapp – Avocado, Casper, Sun Crypto, Six Sigma, BharatBox, Silence Labs, Transak, Flipkart, Jump.trade, SolidityScan, and NEAR, all of which played a crucial role in making the event a resounding triumph.

On the Sidelines at Unfold 2023!

Unfold 2023 was not confined to the conference and hackathon halls; it extended far beyond. The sidelines of the event featured social gatherings, Founders’ meetings, customer interactions, and media engagements. Each element contributed to the growth of the Web3 ecosystem, aligning with CoinDCX’s unwavering mission.

The Startup CEOs Round Table session with Shri Jayant Sinha, a distinguished authority in emerging technologies, offered a valuable opportunity for Web3 founders to engage in meaningful discussions.

Had an exhilarating time at the #Web3Hackathon during #Unfold2023.👨‍💻

As a former coder myself, it was refreshing to connect with young tech talents.

The event reignited my deep-seated desire to pursue programming.😉

Best of luck to you all!

Keep coding for the greater good! pic.twitter.com/GgB5C2NE7j

— Jayant Sinha (@jayantsinha) October 20, 2023

Additionally, the CoinDCX leadership team’s unwavering commitment to a customer-first approach is exemplified by their deep engagement with customers, offering a unique opportunity to gain firsthand insights into recent customer-centric initiatives and innovations. This dedication to understanding and serving the evolving needs of their user base underscores CoinDCX’s mission to provide exceptional value and solutions to their customers.

CoinDCX Leading Change with Community at Heart!

Unfold 2023, in all its grandeur, vividly embodied the authentic essence of the Web3 community. With the unwavering commitment of dedicated chapter leads and the dynamic presence of various DAOs, the event emerged as a captivating celebration of the inclusive, diverse, and collaborative spirit that defines the Web3 ecosystem.

From the active engagement of CoinGabbar  to the innovative prowess of Doodhwala, and from the empowering influence of Superwomen DAO to the global reach of Web3 Connect Global, Unfold 2023 united a tapestry of diverse communities. Notably, it featured the passionate Web3 Assam Community Partnership and dynamic participants such as India Blockchain Forum (IBF), The Product House, OG Club DAO, and The Phoenix Guild. Among the myriad contributors were Tribe Academy, Web3 Chennai, Blockchained India, Being Invested Club, Web3 Kerala, Truts, and Hackverse, each weaving its unique thread into the fabric of Web3 innovation. The event served as a harmonious convergence of ideas, ideologies, and initiatives, illuminating the path to the future of this transformative technology.

Unfold 2023 transformed into a bustling hub of networking and connection, providing attendees with a unique chance to interact with fellow Web3 community members. The venue’s bean bags remained in high demand, functioning as impromptu discussion corners, and the spirited conversations extended far beyond the formal conference schedule. It was a common sight to witness attendees enthusiastically capturing selfies with the Web3 founders and speakers. These exchanges seamlessly transitioned into social media, as praise and appreciation for the event continued to echo across platforms, showcasing the enduring impact of Unfold 2023.

Day 3: Celebrating Excellence

With project submission deadlines approaching, participants worked diligently to add the finishing touches to their projects. A total of 199 submissions spanning various Web3 domains showcased the tremendous talent present at the hackathon. The judging process was challenging due to the high quality of the projects.

When 600 devs are working to build web3 Apps in a large hall. @CoinDCX hackathon is taking India a notch up.

Thrilled to be a part of this revolution 🤩 pic.twitter.com/TFlWV7Mvgt

— Neeraj Khandelwal (@nrjkhandelwal) October 19, 2023

Thrilled to witness the energy at #Unfold23! 🚀
Discussions on #Web3 adoption and the future of #Crypto in India look promising.
We’re committed to driving the momentum forward. https://t.co/k0GzJzuCG5

— CoinDCX: Making Crypto Accessible to Indians (@CoinDCX) October 20, 2023

The event culminated in the announcement of the top five winners, each of whom presented groundbreaking projects that demonstrated the incredible potential of Web3 technology. These projects spanned areas such as 3D sandbox gaming, federated learning, virtual reality platforms, Web2-Web3 interoperability, and NFT lending.

Top 5 Winners!

1. Hyperland: A user-friendly 3D Sandbox Game built on SUI utilizing its fluid object-based contract approach, with Zklogin for onboarding Web2 users.
2. WaFL: Web3 Accelerated Federated Learning: Enhances Federated Learning privacy using blockchain, smart contracts, and zkSNARK verification, enabling secure, collaborative ML with data protection.
3. Web3Verse: A redefined VR platform that enables users to socialize, invest in virtual real estate, interact with NFTs, enjoy entertainment, exchange digital assets, create custom avatars, manage holdings, mint NFTs affordably, and transfer crypto seamlessly across blockchains.
4. Pipechain: Simplifies Web2-Web3 interoperability by enabling easy, no-code creation of powerful workflows and cross-chain automation.
5. LendChips: Streamlines NFT lending, enabling borrowing power accumulation across blockchains, DUSD token minting, and efficient collateral management.

With a total prize pool of $85,000, the hackathon provided participants with a significant incentive to push the boundaries of technology and bring their creative solutions to life.

Conclusion: A Bright Future for Web3

As Unfold 2023 drew to a close, one thing stands out with utmost clarity: the Web3 community is brimming with exceptional talent. Unfold 2023 was a collective achievement, a testament to the vibrant community that came together here. The fervor, passion, and unparalleled spirit of collaboration that permeated every moment of the hackathon were genuinely infectious. Together, we contribute to something far greater—a movement that relentlessly challenges the boundaries of what is achievable in the ever-evolving landscape of technology.

Following the resounding success, the community is eagerly anticipating Unfold 2024. Building upon the triumph of the previous edition, Unfold 2024 promises to be another year of innovation, collaboration, and high-level networking. 

We extend our gratitude to the community, partners, and speakers for making this possible.