18 blockchain ecosystems driving Africa’s Web3 growth amid investor pullback
- Funding to Africa's Web3 and blockchain sector has declined over the past two years.
- The collapse of FTX and Nigeria's Central Bank's ban on crypto have contributed to the funding pullback.
- Global blockchain networks have provided $1 million in funding to support early-stage startups in Africa.
The decline in funding for Africa's blockchain sector highlights the need for more robust local policies and support systems to stabilize the ecosystem. While global networks are stepping in, a sustainable approach that includes local investment and infrastructure development is crucial for long-term growth and innovation in the region.
