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Web3 investors poured nearly $90 Million in Africa.
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Crypto’s Africa market grew by 1200 percent during 2020 and 2021.
Web3 adoption is grinning in the face of Web2. Although a global rollout may take years, however, some countries are already seeing significant adoption. EMURGO, a co-founding entity of Cardano (ADA), kept Africa a focal point in their recent research. The study found Web3 adoption in the continent is growing by leaps and bounds.
The African Crypto Boom
Being transparent and decentralized in nature, blockchain presents a plethora of opportunities in Africa according to the report. Potential areas of the technology’s integration in the continent include supply chain, education, mobility, and more. Faith found Web3 investors in Africa with Kenya, Nigeria, and South Africa receiving almost $90 Million post-covid.
Citing blockchain analysis firm Chainalysis, EMURGO’s report highlights blockchain’s growth remains slower while crypt
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