Exploring the Future of Web3 with Ananteshwar Singh of Expand My Business

When I consider the future of Web3 enterprises, blockchain appears to be the most promising use case. Applications such as supply chain security orchestration within the context of a tree seem to be the most promising. As for crypto and Bitcoin, I believe the industry is still in a phase where it is determining the best use cases for commercialization concerning customers.

The industry is also experiencing a trust deficit, and companies are figuring out how to make the best use of the use cases offered by various businesses for modalities like loyalty programs, customer benefits, and rewards. I would say that the industry is in its infancy, and everyone is trying to determine its future.

I can see many use cases for your company. Can you describe them one by one and explain the use case for an NFT marketplace in your company?

Our business focuses on development work for clients who are looking to outsource projects and don’t have in-house expertise. We are witnessing many companies and brands approach us for launching NFT marketplaces due to the rising trend of Gen-Z audiences seeking loyalty with brands offering NFTs. Luxury brands such as Louis Vuitton are exploring these use cases. We are seeing brands approach us to develop deeper customer connections through NFT marketplaces, which seems to be a strong modality for us. We are also seeing event and media companies approach us for virtual events in the Metaverse, aiming to interact with customers and build commercialization on top of that.

How do you envision Metaverse development? What is the Metaverse to you?

To me, the Metaverse is a more immersive experience where you can be present anywhere in the world without being there physically. For example, attending a lecture at Harvard remotely from India and interacting with people in a simulated environment. While I’m a millennial, and it might not make sense to me, I understand that Gen-Z audiences enjoy interacting in immersive settings. I see the Metaverse as a strong future.

Do you think governments will join the Metaverse?

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Absolutely. They must. Even in the government sector, there is a growing need for training programs for engineers and infrastructure projects worldwide. With remote connectivity and training, especially in a post-COVID world, the Metaverse will become a vital modality for governments to train their resources and bring them up to speed on various projects.

India can be strict with crypto at times. What do you think about future regulation in India?

The crypto market began with decentralization, but the Indian government now wants centralized control to prevent the market’s downsides, including misuse and fraud. Rather than being sceptical, the Indian government is working on establishing the proper frameworks to mitigate the negative effects of crypto, prevent money laundering, and protect retail investors.

Are you working on any DeFi projects?

I’m not a DeFi expert, but we have a team of consultants with extensive experience in the DeFi space. We take client requirements and ensure impeccable project delivery. We are seeing increased interest from fintech companies and P2P players looking to create lending or micro-lending platforms in the Web3 space. However, industries are still in the experimentation phase, and no single use case stands out as the most successful.

How many developers do you have in your company?

We have a partner ecosystem of about 100,000 developers in India.

Does that mean you can utilize any blockchain?

Absolutely.

Do you plan to utilize Luna Classic in the future?

Why not? Never say no.

https://www.exmyb.com/

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