What economic activities are cryptocurrencies backed by? This question has been the single biggest refrain among crypto naysayers over the past decade--be it regulators around the world or veteran investors like Warren Buffett. But that may be changing soon.

       A new wave of crypto startups are now building out the infrastructure of Web3, an internet which they say will be as big a departure as it was between Web1--the static web pages of the 1990s--and Web2--when social networks and mobile apps came about. More importantly, a slew of Indian startups like Biconomy, Polygon, EPNS, ...