Africa Ushers in Web3 Revolution as Carry1st Raises $27M to Publish Blockchain Game – Cryptopolitan
Carry1st, a mobile game publisher, recently secured $27 million in funding to develop its digital content platform and expand its reach into Africa. This region has solid potential for Web3 adoption.
Bitkraft Ventures led the $27 million funding round, with additional contributions from Andreessen Horowitz (a16z), TTV Capital, Konvoy, Alumni Ventures, Lateral Capital and Kepple Ventures.
After receiving a $20 million investment from a16z and Google parent Alphabet last year, Carry1st has secured another major deal, allowing them to expand their internal capacity and diversify their content portfolio through the introduction of Web3 games to earn games and not -fungible tokens in the game experience.
Carry1st stated that the proceeds from their latest round of funding would enhance Pay1st, a monetization-as-a-service platform that provides third-party publishers with the opportunity for increased revenue in Africa.
In 2022, Carry1st partnered with Riot Games – the Los Angeles-based creators of League of Legends – to test localized payments designed to support gaming titles in Africa.
Africa is burning up the digital asset market and has even gotten the International Monetary Fund (IMF) to take notice. According to the November report – which cited Chainalysis data – crypto transactions have been on a continuous rise, reaching an estimated $20 billion per month by mid-2021. It has increased particularly in Kenya, Nigeria and South Africa, indicating how African citizens adapt technology to their everyday lives.
Africa’s youth, government-induced financial instability and inefficient banking systems have driven the continent towards cryptocurrency adoption. Individuals are now turning to decentralized payment methods like Bitcoin and stablecoins for their transactions.
When asked by Cointelegraph about the possibility of Web3 adoption in Africa, a Carry1st spokesperson shared that Africa is no different from any other place on earth when it comes to enjoying games. They added that mobile technology has and will continue to democratize access for all. “Games are everywhere,” they proclaimed and continued, “We all want fun, connection with others and some sense of progression – Africans included.”
Thanks to the ubiquity of mobile phones, gaming has become available and accessible to everyone. As a result, the use of mobile games in Africa is sky high; the favorable demographics, rising smartphone penetration rates and rising incomes create an ideal environment for growth. People no longer need an expensive console to enjoy games; their pocket devices are more than adequate.
