Web3 is spreading across the African continent.
A new wave of startups, entrepreneurs and developers is driving the next phase of Web3 innovation in Africa. On a global scale, the new web3 economy is bringing countless opportunities with a huge impact on the African continent.
As the rate of technological progress in Africa accelerates, we expect more and more projects and individuals to focus on Web 3.0 in the coming years. There is a rapidly growing community of individuals across Africa who are excited about what blockchain and Web3 technology can do for their countries.
In the past six months, some investment institutions and project ecosystems have paid attention to Africa, and have begun to invest, build ecosystems, and educate users to ensure that web3 is fully adopted throughout Africa.
Golden Finance has compiled web3 and encryption projects in Africa in the first half of 2022.
In the past six months, top crypto market venture capital institutions such as Andreessen Horowitz (a16z), Paradigm, Coinbase Ventures, and project ecological funds such as Near and Cardano have all made great efforts in Africa.
As can be seen from the figure, among these financing projects, Web3 infrastructure and applications are the main ones, involving NFT markets, chain games, etc. In addition, the encrypted trading platform is also a track that has attracted much attention, and the scale of financing is relatively large. It is worth noting that FTX announced a partnership with AZAFinance, the first digital currency trading platform on the African continent, to launch encrypted trading platforms in three West African countries in the next few months to promote the adoption of Web3 and digital currency in Africa.
Despite all these potential opportunities and the broad excitement that comes with it, there are still challenges to the adoption of Web3 in Africa, ranging from technical challenges such as scalability and interoperability to people-centred challenges such as education and talent.
Education needs to happen not only among aspiring Web3 users, but also among aspiring developers. From a user’s perspective, while learning how to use a web browser and connect to the Internet can be relatively simple, Web3 is naturally more complex and has a higher barrier to entry. It requires users to understand how blockchain works, smart contracts, protocols, and more. On the development side, learning to build in Web3 is also a completely new area, and Africa needs more developers and instructors. The Gamefi player social platform LAPLAP will cooperate with global educational institutions to launch suitable Web3 introductory free courses for teenagers in Africa, starting from building Gamefi traffic and Web3 community to help the game change again.
In view of this, some popular science education projects are very popular in Africa. The NEAR Foundation has partnered with Sankore, a local blockchain community in Kenya, to launch the Kenya Blockchain Center. The center will be dedicated to ongoing blockchain innovation, education and talent development across the continent.
While Africa has yet to emerge as a “blockchain unicorn”, more venture capitalists are showing interest in the region, according to a new report from blockchain investment firm Crypto Valley Venture Capital (CV VC) and Standard Bank. , unicorns could emerge from the region’s cryptocurrency and blockchain space within two to three years.
Clearly, Africa is ready to embrace the decentralization of crypto. Is the crypto world ready to acknowledge and support Africa’s latent power?
Facts have proved that some forward-looking project ecosystems have already reached Africa, including Tezos, Near, Cardano, etc. Tezos Foundation launched a £1 million fund to help Asian and African artists issue NFTs; NEAR Foundation launched Kenya Blockchain Center; Cardano launched DeFi lending services in Africa, etc.
As Cardano founder Charles Hoskinson said, African countries can bypass the centralized infrastructure barriers that underpin Western countries on the road to becoming Web3 giants.
Posted by:CoinYuppie，Reprinted with attribution to:https://coinyuppie.com/from-vc-to-ecological-fund-inventory-of-african-web3-investment-and-financing/
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