The African Startup League, a partnership built around blockchain technology, seeks to empower 10,000 African-owned enterprises, which will compete for a grand prize of $1,000,000 (about Shs3.8 billion).
Under this umbrella, three digital platforms—Humanity Node Protocol (HNP), Web3Africa, and Adanian Labs—have formed an alliance to build African innovation.
These organizations have joined forces to develop a digital ecosystem that will allow young Africans and entrepreneurs to use blockchain technology to build new products and enterprises of their own.
Entrepreneurs from throughout Africa will be eligible to compete for $1 million in the African Startup League, an effort that will give them the resources they need to grow and commercialize their ideas.
“In Africa, a new startup ecosystem is emerging to use crypto and blockchain technology to solve the continent’s most urgent concerns. Africa has not yet fully realized the possibilities of blockchain technologies and in the coming decade, it’s poised to drive a global economic digital revolution. We at Web3Africa are dedicated to changing the attitude and knowledge of millions throughout Africa, by educating people, said Aly Ramji, Managing Editor and Co-Founder of Web3Africa.news.
Web3Africa is the first pan-African social network platform that is designed for the future generation of African investors. The platform provides news, media, decentralized Apps, events, and markets data and serves as the continent’s complete source for Web 3.0 information and applications including decentralized finance (DeFi).
“Blockchain and Africa are inevitable. There is no bigger opportunity on the planet today to do good for humanity and get returns while at it,” said Marcus Dukes the Founder of the Humanity Node Protocol.
The Humanity Node Protocol is a non-governmental social network with the goal of lifting all of its members out of extreme poverty and into a position of financial security. In this respect, it exemplifies the capacity of blockchain technology to enhance the quality of life for people all over the world.
As part of this initiative, on or before August 8th, 2022, a total of 300,000 Humanity NFTs will be distributed to 300,000 investors based in Africa. These Humanity NFTs are ownership stakes in the governing nodes of the HNP as well as the communication, financial, distribution, and transactional infrastructure of the forthcoming decentralized multi-trillion-dollar GDP of Africa.
“Africa’s adoption of blockchain technology will drive significant change for the better, as we’ve seen leapfrogging from the developed world, African tech-preneneurs and future innovators can deploy new technologies for the betterment of the continent,” said Dukes.
HNP is a blockchain-based platform, rather than just a digital currency used for trading individual profits, HNP is specifically focused on supporting humanitarian efforts and hence the creation of Humanity NFTs.
At this time, the Humanity Protocol rewards its users with cryptocurrency for doing the simplest of community service actions. The platform didn’t go live until 2019 but now counts more than 150,000 individuals as users. These users come from all around Africa, ranging from Nigeria in West Africa to Kenya in East Africa.
Adanian Labs, located in Nairobi, has also taken the lead on this effort, working with partners to develop the Humanity NFTs’ business model and operational standards. An estimated $1,000 per month in revenue may be generated by this business model for those who are selected and get the Humanity NFTs.
HNP requires 100 hours of service from each awardee to be eligible, which will result in 30,000,000 hours of service to build up the infrastructure necessary for Africa’s hyper-economic development.
Decentralized finance and blockchain technologies are changing the world, and young Africans have a chance to participate in this endeavor at a time when this shift is taking place. There’s no better time than now in Africa, said John Kamara Founder of Adanian Labs.
“We are utilizing our distinct position to create and pioneer the new digital economy of Africa by constructing a socioeconomic ecosystem based on shared resources, shared creation, production, distribution, trade, and consumption. This will allow us to capitalize on the continent’s vast untapped potential,” he said.