Adaverse, a Cardano ecosystem accelerator set up to encourage the growth of Web3 crypto-native enterprises in Africa, announced its investment into a seed funding round for Afriguild, a blockchain gaming guild-turned DAO (decentralized autonomous organization) providing opportunities for Africans through gaming, education and community building. Adaverse and EMURGO Africa have joined other notable investors in this investment round to speed up Afriguild’s mission to onboard 100m Africans into Web3 over the next 5 years.
Adaverse was launched in September 2021 as a joint venture partnership between EMURGO Africa and Everest Ventures, to identify and provide valuable support resources to promising African startups building the next wave of Web3 dApps in DeFi, NFTs, gaming, and metaverse tools on Cardano’s third-generation and environmentally-sustainable blockchain.
What is Afriguild?
Afriguild started as a social gaming enterprise that ensures top-rated Web3 games are accessible and profitable for Africans. Within its first few months, Afriguild developed a highly functional platform that enables Africans to participate in blockchain P2E games and other income-generating opportunities in the emerging Metaverse.
At its core, Afriguild believes Africa is the real use case for opportunities in Web3. With a population of over a billion people under the age of 35, Africa has all the right indices to achieve continent-wide adoption in a few years. The number of people onboarded into the Web3 ecosystem will directly affect the relevance and impact of Web3 over time. This is why Afriguild is now building out the rails to bring in the next 100m Africans.
Since its launch in late 2021, Afriguild now has over three thousand members on its Discord social messaging platform and is actively driving its mission through gaming, deploying Web3 learning programs, as well as creating IRL blockchain communities across tertiary institutions in Africa. With a goal to further drive financial inclusion and empowerment, Afriguild has made a significant impact across nine (9) cities in Nigeria with plans to expand into four (4) African countries by 2022 Q4. Afriguild is equally working to bridge the gender gap in the blockchain space with its recent launch of the Web3 Africa Women (WAW) Fellowship to provide learn-to-earn opportunities for women across the continent who are passionate about getting into tech.
Afriguild is a DAO with the goal of making Web3 accessible to every African. Through tokenized learning, community building, and strategic collaborations with builders across the world, Afriguild provides young Africans with opportunities to build valuable Web3 skills, enabling them to become earners and contributors in the emerging Metaverse. By creating new types of work, young people can have multiple income streams such as game winnings, NFT asset investment, paid contributor roles in the community and so on.
The GameFi industry will be worth an astounding $314 billion by global estimations in 2026, and Africa will account for a significant portion of that revenue due to the continent’s massive youth population and an abundance of mobile users estimated at over 747 million. Despite the fact that GameFi is expanding rapidly over the globe, the majority of Web3 games with high yield assets are not popular in Africa due to the high cost of entry and complex gaming environment. Afriguild solves this problem by aggregating the top games and simplifying them for the African youth to play and earn while building confidence within an energetic and dynamic gaming community.
Shogo Ishida, co-CEO for the Middle East & Africa at EMURGO Africa, stated “Social communities will re-engineer the structure of global commerce while leveraging Web3 applications running on blockchain technology. Africa is socially communal and Afriguild is building the bridge to financial breakthrough by connecting young Africans to the emerging Web3 world. EMURGO Africa is pleased to support the vision of Afriguild’s leadership and development team to create a better Africa on Cardano’s third-generation blockchain which desires to provide equal economic opportunities to those that lack access”.
Beyond building a gaming guild, Afriguild aspires to become the “LinkedIn” of the Metaverse – a Web3 hub that connects Africans to multiple earning opportunities on the Metaverse with P2E models and a marketplace where game developers are directly connected to hire the services of Scholars, Gamers, Testers, and all kinds of contributors. Afriguild also will consummate its transformation into a decentralized autonomous organization (DAO) in the near future, using $AFRI tokens created on the Cardano blockchain.
L – R; Francis Vesta – Co-founder and Head of Finance, Toyosi Abolarin – Co-founder and CEO, Tomiwa Olajide – Co-founder and Head of Strategy and Growth
Toyosi Abolarin, co-founder at Afriguild states that “At Afriguild, our strength lies within our community, and this has been the driving force behind all we do. Cardano has one of the most vibrant communities in the blockchain industry and will play a crucial role in achieving our goal of putting Africa on the map. Cardano’s technology is an innovative protocol that provides a robust infrastructure for Afriguild to develop an ecosystem of impactful and reliable products”.
“We are equally excited about the Adaverse accelerator programme, which provides unparalleled access to world-class mentors and advisors to build on Cardano, and who support our growth every step of the way. It is always a good thing to have investors who are invested, and this is just what Cardano represents to us”, said Tomiwa Olajide, co-founder of Afriguild.
Vincent Li, founding partner at Adaverse said “The Cardano community upholds an organic and sustainable approach to problem-solving and Adaverse is excited to welcome the Afriguild team onboard the accelerator program. Through this partnership, Afriguild will expand its operations across Africa and surpass its five-year goal of empowering one hundred million Africans with the means to build wealth with available resources.”
Adaverse is a Cardano ecosystem accelerator launched by EMURGO Africa and Everest Ventures Group to help the next generation of African Web3 startups excel on the global front. Established as an alchemist for organically grown solutions, we assist startups to grow sustainable businesses on the continent, through funding and a 1:1 mentorship program. Our accelerator program is open to applications all year round from African-based startups with a crypto-native edge and a proven concept.
To apply for the Adaverse accelerator program, click here
You can join Afriguild here
PrivaCrip to Power a Blockchain Network That Could Follow Cardano & XRP
When the first decentralised blockchain was popularised in 2008 by Satoshi Nakamoto, the door was open for people across the globe to transact more securely and seamlessly. Many blockchain networks have been built and powered by native crypto tokens, including PrivaCrip (PRCR).
Native tokens exist for several reasons. Aside from acting as digital currencies, they perform various functions. Helping blockchains improve data traceability, security, transparency, and trustworthiness shared throughout the network. They also assist in reducing costs through their ever-evolving efficient methods.
Cardano (ADA) and Ripple (XRP) are among the best blockchain-based cryptos that this article will discuss. We will also look at how PrivaCrip (PRCR) will power a blockchain network set to launch into the crypto space.
Top Tier Crypto Makes its Mark – Cardano (ADA)
Cardano (ADA) has been around in the crypto space since 2017. The Proof-of-Stake (PoS), Ouroborous Cardano (ADA), was established using a research-based methodology.
Research is the backbone of Cardano (ADA) and is integral to its success in the cryptocurrency market. Cardano (ADA) uses an evidence-driven mechanism and peer-reviewed research to run its ecosystem to drive its evolution.
Among many things, Cardano (ADA) helps establish DeFi products and provides a suite of financial solutions. Crypto enthusiasts can stake Cardano (ADA) for a chance to earn rewards for their holdings.
With 2022 providing challenges in cryptocurrencies across the globe, Cardano (ADA) is one of the few cryptos to see a surge in on-chain trading volume this year. CoinMarketCap lists Cardano (ADA) as the 7th largest crypto by market capitalization at the time of writing.
Making Waves – Ripple (XRP)
Launched in 2012, Ripple (XRP) is a leading provider of crypto solutions for businesses. Ripple (XRP) provides developers with a solid open-source foundation for executing demanding projects. It is fast, energy-efficient, cost-effective, and reliable.
The solutions provided by Ripple (XRP) enable developers to solve inefficiencies, including asset tokenization and remittance. Therefore, individuals and businesses may apply Ripple (XRP) for DeFi, payments, tokenization, and more.
Crypto enthusiasts with a long-term focus may find Ripple (XRP) a valuable investing tool. Token holders can use Ripple (XRP) for staking its mainnet platform for a chance to grow their earnings and maximise profit.
The New Face Of Privacy – PrivaCrip (PRCR)
The soon-to-launch PrivaCrip (PRCR) is a cryptocurrency built for Web3 data privacy. It will allow users to develop and use permissionless and privacy-preserving applications. This unique feature of PrivaCrip (PRCR) secures apps, protects users, and fosters the creation of many new Web3 uses.
PrivaCrip (PRCR) will drive a blockchain that creates a more empowering and inclusive internet. It will enable developers to build secure dApps using private contracts based on original privacy research (OPR) to revolutionise Web3.
PrivaCrip (PRCR) will begin pre-sale soon and has an initial token price of 0.10 USD. According to the whitepaper, there will be a total supply of 190 million tokens, of which 40% of the total supply will go to the pre-sale.
Crypto enthusiasts who purchase PrivaCrip (PRCR) during the pre-sale will receive the most significant long-term rewards and bonuses. Those who buy with Bitcoin (BTC) will receive a 10% bonus. Also, those using Ethereum (ETH) to purchase will receive 15% of the total PrivaCrip (PRCR) they purchase as a bonus.
10% of PrivaCrip’s (PRCR) total supply is up for distribution as staking rewards, meaning that token holders who stake will receive rewards for their contribution to the crypto’s advancement.
Blockchain networks are continuously evolving, and so are the crypto tokens that power them. Cardano (ADA) and Ripple (XRP) have contributed tremendously to the success of their blockchain networks, gathering mass appeal.
PrivaCrip (PRCR), for its part, will drive a security-enabled blockchain and scalability in private DeFi, empower data tokenization, and bring together a fast-growing community. Acting on its promise, it has the potential to become the next big mover in cryptocurrency.
For more on PrivaCrip (PRCR), check below:
Cardano (ADA) Withdrawal Fees Waved by Bitrue Exchange
Singapore-based cryptocurrency exchange made Cardano one of its base trading pairs earlier this year
Singapore-based cryptocurrency exchange Bitrue announced that it had temporarily waived withdrawal fees for the Cardano (ADA) cryptocurrency.
The trading platform says that the move is meant to celebrate the support it received from the community behind the cryptocurrency.
Users will be able to withdraw ADA without paying any fees until mid-September.
Bitrue has stressed that it wants users to have “as much choice as possible” when it comes to custody options. Those who want to hold their ADA tokens will not be able to do so without paying an additional commission.
At the same time, Bitrue has touted its “Power Piggy” yield-farm investment program for those who want to earn passive income with ADA.
As reported by U.Today, Bitrue introduced the token as its base currency back in February.
In June 2021, it also became the first cryptocurrency trading platform to add support for Cardano-based native tokens.
Last month, Bitrue also announced a staking initiative with the ADA cryptocurrency. It decided to contribute a million tokens to some of the top Cardano staking pools in an effort to boost the level of decentralization.
Earlier this year, SundaeSwap (SUNDAE), the native token of the SundaeSwap exchange, also became available on Bitrue.
WingRiders Losses 59% Of Its Total Value Locked, Plunges Cardano TVL Below $100M
Popular Cardano-based decentralized exchange WingRiders has lost its position as the most valuable DEX on Cardano.
WingRiders slumped from the first position to third after losing more than 59% of the total value locked (TVL) on the platform in the past 30 days.
At the time of writing this line, WingRiders is now the third-largest DEX by total value locked, with a TVL of $19.66 million. It is noteworthy that WingRiders maintained the top spot for more than two months, claiming 42% of TVL On Cardano. However, the DEX has fallen from glory ever since.
Minswap Is Now Cardano’s Most Valuable DEX
The development also affected the total value locked on Cardano. The total value locked on Cardano has fallen below $100 million in the last 30 days after the WingRiders TVL slumped.
Interestingly, Minswap has taken the lead to become the most valuable decentralized exchange on Cardano after the massive decline of WingRiders’ TVL.
At press time, Minswap is leading, with a $49.09 million total value locked on the platform. The DEX hit the milestone after recording a massive growth of 30.9% in its TVL in the past 30 days. Minswap accounts for 51.82% of the total value locked on Cardano.
SundaeSwap, the first decentralized exchange on Cardano, is now the second most valuable DEX in the ecosystem. SundaeSwap is second in the ranking, with $19.72 million in TVL.
Like WingRiders, SundaeSwap has also lost a significant amount of its TVL over the past 30 days. In the past month, SundaeSwap has lost nearly 10% of the funds locked on the platform.
Commenting on the development, Cardano Daily, a platform that shares new developments about Cardano, said:
“After the major decline of @wingriderscom, the TVL scenario of the Cardano ecosystem has stabilized back to normal as we have seen in the past few weeks. @MinswapDEX still led the ecosystem with $51M TVL, contributing 50% of the ecosystem.”
CARDANO TVL STATUS
After the major decline of @wingriderscom, the TVL scenario of the @Cardano ecosystem has stabilized back to normal as we have seen in the past few weeks. @MinswapDEX still led the ecosystem with $51M TVL, contributing 50% of the ecosystem#tvl #cardano $ADA pic.twitter.com/xjZ6cHo8jX
— Cardano Daily (@cardano_daily) August 9, 2022
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