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CoinDCX Appoints Former Amazon Pay Executive Head Of DeFi Unit

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HIGHLIGHTS :

  • The DeFi segment is on the rise
  • CoinDCX plans to expand in this segment
  • New projects are being introduced for investors in this segment

One estimate states that by 2026, about 25 percent of people will spend at least one hour per day on the Metaverse for purposes such as work, shopping, education, or entertainment.

The DeFi segment is on the rise

CoinDCX, one of the country’s leading crypto exchanges, plans to move into decentralized finance (DeFi). In the same episode, the exchange hired Gaurav Arora, a former senior executive at Amazon Pay, as Senior Vice President of CoinDCX Pro.

The DeFi segment is growing and CoinDCX is preparing to expand. Arora has over a decade of experience in leading the way in leading products. He added, “Web3 and DeFi are in their early stages and out of reach for many people. We believe that in the next few years there will be millions of users joining the decentralized blockchain ecosystem. We aim to help these people access opportunities ” CoinDCX has started efforts to become one of the early service providers in Web3. This will also help people in other segments like non-fungible tokens (NFTs) and metaverses.

CoinDCX plans to expand in this segment

Citing a Gartner report, the exchange said that by 2026, about 25 percent of people will spend at least one hour per day on the Metaverse for work, shopping, education, or entertainment. Cryptocurrencies and NFTs will have a major share in this ecosystem. Game makers in the Metaverse, NFT, and Web3 segments are bringing in projects for investors. These firms also try to attract investors and create some buzz around the projects with Initial Game Offerings (IGOs).

New projects are being introduced for investors in this segment

IGOs provide an opportunity to invest early in gaming projects that have the potential to generate higher returns after launch. Game developers often raise funds for their projects by presenting game-related crypto tokens and digital collectibles as IGOs. In this, buyers also get a chance to get first-hand access to the game’s accessories like mystery boxes and weapons. Investing in an IGO may require the purchase of Launchpad tokens. This guarantees the allocation in the IGO. Seedy, Game starter, and EnjinStarter are some of the popular launchpads. Binance Labs has secured an investment of approximately $500 million for its Web3-linked fund.

IGOs provide an opportunity for early investment in gaming projects…

that have the potential to generate high returns after launch. Game developers often raise funds for their projects by offering game-related crypto tokens and digital collectibles as IGOs. It also gives buyers the chance to get first-hand access to game accessories such as mystery boxes and weapons. Investing in an IGO may require the purchase of Launchpad tokens. It guarantees allocation in IGO. Some popular launchpads are Seedify, Gamesstarter, and EnjinStarter. Binance Labs has secured nearly $500 million in investment for its Web3-linked fund. The fund will support crypto and web three startups.

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