Africa is a major continent for blockchain and cryptocurrency activity. Various startups are trying to take advantage of these new technologies to have a significant impact. AFEN Blockchain Group launches its NFT Market soon, putting another spotlight on blockchain efforts across the continent.
Africa and blockchain come together
There has been a significant increase in interest in blockchain across Africa in recent years. Its transparency and accountability can bring benefits and even usher in a kind of “new Africa”. to arrive in Google Trends for “cryptocurrency,” there are various blockchain-based efforts to get started. As Africa is home to the youngest population of any continent, the shift to innovative and digital technologies is not surprising.
In addition, the country has a lot of charisma, knowledge and artistic conception to offer to the world. Bringing these indigenous ‘specialties’ to a wider audience will highlight its global value and educate people on the continent. The use of blockchain technology for this purpose – or even non-fungible tokens – can pave the way for a broader understanding of African culture.
The current state of non-fungible tokens confirms that a lot of value changes hands every day. Many projects are uniquely successful, whether they represent collectibles, utility NFTs, or representations of real-world objects. One more weekly volume $ 146 million confirms that interest in non-fungible tokens is not waning. Some rare NFTs sell for as much as $ 2.11 million, ensuring a market for all sorts of endeavors.
The AFEN NFT marketplace
One of the projects combining blockchain and African art and culture is the AFEN NFT Marketplace. It focuses on legacy African art and artifacts and digital collectibles from African designers. Additionally, the platform will host digital collectibles from around the world. As a first initiative, AFROXNFT will serve as a springboard for African designers to launch their NFT collections. Jesse Tomi’s collection, called “The Beginning”, is the first collaboration between the AFEN NFT Marketplace and 3D digital artist.
The main role of AFROXNFT is to represent the heart of African existence. The artist will present to the users of the market a mixture of futurism and culture. There will be a total of 1000 AFROXNFT in the first phase, at the floor price of 1 BNB. These NFTs are made up of a man, a woman, a genderless child and a masquerade. The masquerade is symbolic in African culture and can represent an age, an era, a disguise or a visit of the spirits. There will be 100 different masquerades representing disguises in the form of animal, human, compositional and cultural heroes.
In addition, the release of AFROXNFT will usher in a monthly drop of $ AFEN tokens. Randomly selected AFROXNFTs will receive the interchangeable token each month. Like African culture, this “draw” will see a few lucky smiles from the gods.
Blockchain projects on Africa don’t always get the general attention they need or deserve. Creating projects that can transcend borders and continents will help change this narrative for the better. As NFTs are a popular trend right now, any effort to take advantage of this technology can, in theory, gain traction around the world quite quickly. AFROXNFT also has an educational purpose, as most people know very little about Africa and its culture.
Non-fungible tokens should never be about speculation or monetary gain. Instead, they must deliver some other kind of value, whether artistic, educational or otherwise. The combination of the best of art, culture and blockchain technology can lead to new ideas, developments and perspectives. Giving aspiring artists a chance to share their work with the world without worrying about restrictions or middlemen can pay off in the long run.
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