At a Glance
What started as a modest paper company in 1994 is now reincarnated as String Metaverse — an alleged Web3 superpower dabbling in digital banking, blockchain gaming, advertising, and DePIN. From zero revenue in FY21 to ₹407 Cr in FY25, the transformation is as sus as it is fascinating. The stock is up 20x in 3 years, trading at 88x P/E and 32x book. Strap in — this is either India’s biggest Web3 success story… or the best-executed tech illusion since Theranos.
1. 🧲 Introduction with Hook
They changed their name, business model, revenue stream, and shareholder base — all in under 3 years.
- 📜 Was a paper company with ₹10 Cr revenue.
- 🧙 Rebranded as Web3 “String Metaverse” in 2023.
- 💰 Posted ₹407 Cr revenue and ₹35 Cr PAT in FY25.
- 🧑🚀 Promoter holding suddenly jumped from 25% to 89% between 2021 and 2024.
- 🤯 Approved a $2 Billion fundraise plan in May 2025. Yes, billion with a B.
Still confused? Same here. Let’s unpack the numbers.
2. ⚙️ WTF Do They Even Do? (Business Model)
According to filings:
“String Metaverse integrates finance, games, and communities (metaverse) into Web3.0 platforms. It builds gaming communities, runs digital asset liquidity programs, and offers Web3 services like DePIN, digital banking, and decentralized advertising.”
Translated to English:
- Web3 gaming & community building ✅
- Digital advertising & DePIN infra ✅
- Fintech ops with Canadian license via STRING PAY X ✅
- Blockchain infra investment of ₹400 Cr+ planned ❓
- $2 Billion fundraise for token projects & digital assets ❗
They also casually mention “liquidity provision” and “market-making as a
