Three firms have joined hands to empower 10,000 startups across Africa to build innovative technologies and businesses around blockchain technologies.
The initiative dubbed Africa Startup league is powered by Humanity Node Protocol (HNP), Web3Africa and Adanian Labs and will see 10,000 African-owned enterprises compete for a grand prize of $1 million, where each business will build technologies on the blockchain.
“The opportunity for young Africans to take part in this initiative during a time when the world is witnessing a change in how decentralized finance and blockchain technologies are impacting societies globally. Africa is at the forefront of implementing new blockchain technologies”, said John Kamara Founder of Adanian Labs.
In August, 10,000 teams will be allowed to register for that year’s startup competition. The top 100 projects will win cash prizes (investments) with the minimum cash prize being $10,000.
The top cash prize will be a minimum $1,000,000 investment. The rules of the African Startup League will be published in The Exchange on or before June 8th, 2023.
The competition will run from August until December with the winners being chosen and announced no later than December 15th of each year.
The partnership will also see 300, 000 Africans who have been registered and had their identities verified, issued with Humanity NFTs on or before August 8th, 2022.
“There is no bigger opportunity on the planet today to do good for humanity while making incredible returns”, said Marcus Dukes the Founder of the Humanity Node Protocol.
These Humanity NFTs represent ownership in the governance nodes of HNP and the communication, financial, distribution and transactional infrastructure (rails) of the coming multi-trillion-dollar D(ecentralized) GDP of Africa.
HNP based in Nairobi, Kenya has partnered with Adanian Labs (also based in Nairobi) to create the business model and operating protocols for the Humanity NFTs and expects the Humanity NFTs will generate over $1,000 a month ($12,000 a year) income for the chosen recipients awarded the Humanity NFTs.
Each awardee is required to commit 100 hours of service to Humanity Node Protocol which will create 30,000,000 hours committed to further building out the infrastructure needed to usher in the African era of hyper-economic growth.
Serving the continent’s rich and deep talent pool will support the realization of a new prosperous Africa continental economy powered by possibilities created by blockchain.
“A new startup ecosystem is forming in Africa to address the continent’s most pressing issues using crypto and blockchain technology. In the midst of the next digital revolution of the global economy, Africa has yet to fully realize the promise of blockchain technology, this is where Web3Africa (www.web3Africa.news), will seek to change the perception and understanding among millions across the continent”, said Aly Ramji, Managing Editor and Co-Founder of Web3Africa.news.