Bitcoin’s 12th anniversary, new possibilities entering the Nigerian market and more. The last week of May was was busy for the African crypto market and brought us many events and new scenarios to keep watching, Here are the latest news we curated to keep you informed. Don’t forget to follow our social channels to get constant updates and highlights.
We have been following many upgrades in the crypto market in Africa that came as a consequence of its huge growth in the past two years. The African continent has attracted the attention of companies and investors eager to be part of its growing crypto ecosystem, which calls for initiatives that can help keep this environment sustainable. Binance, the world’s largest crypto exchange platform, recently announced that is bringing the campaign Blockchain and Cryptocurrency Awareness Tour (BCAT) to Africa this weekend, as an initiative to raise awareness about crypto-related topics such as metaverse, play-to-earn, and NFTs and strengthen the community of crypto enthusiasts in the continent. The event is set to happen at the Amadeo Event Centre in Enugu, Nigeria, and Uganda, Ghana, and Cameroon are also on the list of next stops.
Binance to launch Africa crypto awareness tour as adoption ramps up
Did you know that our beloved Bitcoin has a birthday of its own? Every year on May 22, cryptocurrency enthusiasts in different locations around the world celebrate what they can World Bitcoin Pizza Day, in celebration of the day when the American Laszlo Hanyecz made history by purchasing two Pizzas with 10,000 Bitcoins. He was the first individual to use digital currency to pay for a real-world item - a very simple one, we must say. The celebration this year welcomed African crypto aficionados as well and happened simultaneously last Sunday in 11 African cities including some major hubs like Nairobi, Lagos, Calabar, and Cape Town. Party on!
Enthusiasts gather to celebrate Bitcoin’s 12th anniversary
In Nigeria, the crypto market keeps being a source of exciting news. The Nigerian government just announced its plan to launch a new e-wallet service that will allow the international commercialization of all IP forms created inside the country. The project will be possible thanks to a partnership with the Developing Africa Group, with who the Nigerian authorities just signed a 3-year exclusive IPR (intellectual property right) agreement. The company will help build Nigeria's official platform for citizens to upload any form IP rights (shows, data, songs, lectures) and sell or exchange them also in the international market, guaranteeing that they can keep the royalties of these operations safe on their e-wallets. The initiative is set to be launched before the end of this year.
Nigeria to Launch Major Crypto Initiative, IP Exchange Marketplace, and Wallet
Crypto Valley Venture Capital (CV VC) has announced the launch of its African Blockchain Early-Stage Fund which promises to unlock great potential for the continent’s crypto market. CV VC is currently one of the most powerful blockchain hubs in the world and the fact that it is landing its eyes in the African market says a lot. The decision was announced after the company published its official African Blockchain Report clarifying many insights regarding the growing blockchain market and community in Africa. CV VC wants to bring the first-ever, blockchain-focused accelerator to Africa, with the potential to invest in over 100 startup companies within the continent. The project is designed to achieve its full potential in 4 years, considering that, currently, 12 blockchain startups are already being funded by CV VC’s initiatives.
CV VC launches seed fund for African blockchain startups
South Africa has been experiencing a surge in crypto gambling, a practice that is widely spread in the online gambling community that has been enjoying the perks of having this activity legalized in the country since 2011. Bitcoins casinos have been popping up all over the country, which is likely due to the advantages and facilitated framework that cryptocurrency offer compare to traditional methods of payment. One of the main benefits is related to security since crypto-based bets are not easily subjected to fraud. On top of that, gambling with cryptocurrencies eliminates the need of involving third parties in the process, and players can conveniently send and transfer amounts using their e-wallets. Currently, many e-coins can be officially used in different South African casinos, but Bitcoin is still the most popular one, together with Ethereum, and Litecoin. Would you try your luck risking your crypto assets?
The Rise of Crypto Gambling in South Africa