Africa is a compelling continent for blockchain and cryptocurrency activity. Various startups attempt to leverage these new technologies to make a meaningful impact. AFEN Blockchain Group is launching its NFT marketplace soon, putting another spotlight on blockchain efforts across the continent.
Africa And Blockchain Come Together
There has been a significant increase in blockchain interest across Africa in recent years. Its transparency and accountability can provide benefits and even usher in a "new Africa'' of sorts. Not only do countries across this continent show up in Google Trends for "cryptocurrency," there are various blockchain-based efforts to boot. As Africa is home to the youngest population of any continent, the shift toward innovative and digital technologies is not surprising.
Furthermore, the country has a lot of charisma, knowledge, and artistic design to offer the world. Bringing those native "specialties" to a broader audience will highlight its global value and educate people about the continent. Using 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 a lot of value is changing hands every day. Numerous projects are successful in unique ways, whether they represent collectibles, utility NFTs, or representations of real-world items. A weekly volume of over $146 million confirms the interest in non-fungible tokens isn't diminishing. Some rare NFTs sell for as much as $2.11 million, ensuring a market for all kinds of efforts.
The AFEN NFT Marketplace
One of the projects combining blockchain and African culture and art is the AFEN NFT marketplace. It focuses on legacy African art and artifacts and digital collectibles from African creators. Moreover, the platform will host digital collectibles from all over the world. As a first initiative, AFROXNFT will serve as a springboard for African creators to launch their NFT collections. Jesse Tomi's collection, dubbed "The Beginning," is the first collaboration between the AFEN NFT marketplace and a 3D Digital artist.
The primary role of AFROXNFTs is to represent the core of African existence. The artist will introduce marketplace users to a mix of futurism and culture. There will be a total of 1,000 AFROXNFT in the first phase, priced at a floor of 1 BNB. These NFTs re 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 grade, era, disguise, or visitation of spirits. There will be 100 different masquerades representing animal, human, compositive, and cultural hero form disguises.
Furthermore, the release of AFROXNFT will usher in a monthly airdrop of $AFEN tokens. Randomly selected AFROXNFTs will receive the token interchangeable every month. Like African culture, this "draw" will see a few lucky ones smiled upon by the gods.
Blockchain projects out of Africa do not always get the mainstream attention they need or deserve. Creating projects that can transcend borders and continents will help change that narrative for the better. As NFTs are currently a popular trend, any effort leveraging this technology can, in theory, gain global traction rather quickly. The AFROXNFT venture also serves 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 need to offer a different sort of value, be it artistic, educational, or otherwise. Combining the best of art, culture, and blockchain technology can lead to new ideas, developments, and insights. Giving aspiring artists a chance to share their work with the world without worrying about restrictions or intermediaries can prove beneficial in the long term.
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