Seychelles Leads African Blockchain Funding Amid Shifting Market Trends
- Seychelles attracted 31% of all blockchain funding in Africa, totaling $38.35 million.
- In 2022, Seychelles secured $209 million in blockchain funding, which dropped to $89 million in 2023.
- Nigeria, despite high cryptocurrency adoption, received only $1.5 million in blockchain funding in 2023.
While Seychelles has established itself as a leader in blockchain funding, the overall decline in investment and the continent's minimal share of global funding highlight significant challenges. The optimism expressed by industry leaders suggests potential for growth, but it is crucial to address the underlying issues that hinder broader adoption and investment in blockchain technology across Africa.
