INTEX announces adoption of 5ire blockchain to enter Web 3

The company said that the integration of blockchain and businesses would result in sustainable and profitable companies by incorporating Web 3.0

INTEX is a 950 million dollar Indian company with over 20 product categories, the release claimed. Pic: Intex/Facebook

Electronics manufacturing services company INTEX on Friday announced the adoption of 5ire blockchain to enter web 3.0. The adoption of 5ire's blockchain to enter Web 3.0 by INTEX would embark on a new technological revolution in the retail industry, the company said in its press release.

The company said that the integration of blockchain and businesses would result in sustainable and profitable companies by incorporating Web 3.0.

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The company further said that Web 3.0 has the potential to revolutionise the way businesses operate by providing a more personalised web, improved data searchability, and eliminating third-party intermediaries, Web 3.0 can help INTEX save time and money while building strong customer relationships.

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“Further, with NFTs and Metaverse, Web 3.0 opens doors to innovation and sustainable competitive advantages,” the release said.

“We are excited to partner with 5ire. Web 3.0 will bring immense possibilities for new ways of doing business. Efficiency shall increase tremendously. With decentralization at its core, it shall result in more transparency. It is a step towards building a sustainable planet. This is the beginning of a new era”, Intex’s Director, Keshav bansal, said.

"INTEX's adoption of blockchain technology to enter Web 3.0 is pivotal for building a community around 5ire's mission of bringing a for-benefit paradigm shift", CEO and Co-founder Pratik Gauri said on the occasion.

INTEX is a 950 million dollar Indian company with over 20 product categories, the release claimed.

5ire is a Layer 1 blockchain project comprising of an ecosystem featuring an exchange, a wallet, an NFT marketplace, and a VC fund to help grow other sustainable blockchain projects, the release said.

5ire has initiated public-private partnerships in India, Nigeria, and the United States to bring 5ire's technological solutions for sustainability, better governance, and more just and transparent law enforcement.

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