CoinDCX Appoints Former Amazon Pay Executive Head Of DeFi Unit

CoinDCX, one of the country’s leading crypto exchanges, plans to move into decentralized finance (DeFi). In the same episode, the exchange has 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.

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. Games 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).

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. Seedify, Gamestarter and EnjinStarter are some of such popular launchpads. Binance Labs has secured an investment of approximately $500 million for its Web3-linked fund. This fund will help crypto and Web3 startups.

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