African-Inspired NFT Art Collection to Launch in October
Masks of Ether , an NFT collection that draws inspiration from West African tribal art, will launch on October 5. Harrison Foko, the artist and creator of the NFT collection, “will release 10,000 generative images featuring pixel art masks.” Foko’s goal is to bring traditional African art to the blockchain and expose it to new audiences.
“I am excited to bring my own roots into the NFT space. Using something so tribal and traditional in this modern pixel-art form has never been done before. The community is ready and excited for something new,” he said.
Foko plans to give $100,000 of the NFT proceeds to The CryptoSavannah Foundation and Survival International. The former is a non for profit organisation using the blockchain to change African lives, while the latter is a human rights organisation that fights for the rights of indigenous people.
More and more African artists are embracing non-fungible tokens. For instance, these three Zimbabwean artists have made some income from selling their art on NFT marketplaces .
Crypto Exchange Yellow Card Secures $15M in Funding
Yellow Card, a crypto exchange operating in twelve countries, has secured $15 million in funding. According to the company, they will use the funds to scale their operations. Since the beginning of the pandemic, the company has increased its users across Africa almost 30-fold.
“Our mission has always been to make cryptocurrency accessible anywhere and everywhere across the African continent. Now, we have the backing to make that a reality, alongside an amazing team of investors who share our vision,” said Chris Maurice, the CEO.
The Series A funding round was led by Valar Ventures, Castle Island Ventures, and Third Prime with participation from Square Inc., Coinbase Ventures, Polychain Capital, GreenHouse Capital, BlockFi, Blockchain.com, MoonPay, and more.
“We believe in Yellow Card’s vision of a Pan-African cryptocurrency platform. What cemented the deal is their multi-national team, which we believe has the local knowledge, technical expertise, and unequivocal passion to address the basic financial services needs of the continent,” stated James Fitzgerald from Valar Ventures.
eNaira Website Goes Live
Nigeria’s eNaira website is live ahead of the launch today. This could indicate that the Central Bank of Nigeria (CBN) is keen on seeing its plans for a Central Bank Digital Currency (CBDC) succeed.
The website states: “[The] eNaira serves as both a medium of exchange and a store of value, offering better payment prospects in retail transactions when compared to cash payments.”
With a CBDC in place, experts are worried that Nigeria will follow China’s steps and implement more anti-crypto policies.
“Yes, we expect the CBN to champion even more anti-crypto policies, as it is clear it sees crypto as a hindrance to its monetary policy objectives even though data confirms that as a fallacy. Every crypto company in Nigeria should innovate ways to work within a restrictive system and think about jurisdictional changes,” Chiagozie Iwu, CEO of crypto exchange Naijacrypto said.
Paxful Promotes Crypto Developers in Nigeria with Donation
Paxful has announced that it is donating to the Human Rights Foundation. The funds will go to “the Qala Fellowship, a program that will find and grow local Nigerian talent, starting with the developers who want to build a career in crypto.” The program will help the crypto developers to contribute to the open-source network, secure jobs with bitcoin companies, or start their own companies.
Paxful CEO Ray Youssef said: “Paxful follows energy, and it is clear that the Nigerian youth will make a profound impact on the global economy through Bitcoin. They have entrepreneurship baked into their DNA, but they [do not have] the chance to showcase their talent on the global stage. First and foremost, the Qala Fellowship is a career roadmap for Nigerian developers. But it also is a way to support the local economy and a means for Bitcoin to capture more developer mindshare. We are proud to fund this project and cannot wait to see what these developers create.”
Nigerians that join this program will benefit from a six-month course that will teach them everything they need to be successful crypto developers. Moreover, Qala Fellowship will facilitate internships and full-time jobs and set up talks with seasoned professionals.
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