In the last few years, blockchain has become one of the important technologies used in the development of a wide range of IT solutions. In recent months, several games and service platforms using cryptocurrency and NFT technologies have made the news.  

Nigerian blockchain gaming platform blockchain Metaverse Magna (MVM) announced, Monday (September 5), that it had secured US$3.2 million during a seed token sale round. Thanks to the funds raised, it plans to build Africa’s largest gaming decentralized autonomous organization (DAO) and offer gamers access to world-class opportunities.  

According to Yele Bademosi, CEO of Netscoin (which developed MVM),  “Africa has the highest youth population globally, but over 60% of the continent’s youth are unemployed […] Gaming presents a unique opportunity to help young Africans earn and lift themselves and their families out of poverty.”

Therefore, “MVM’s seed sale token ensures opportunities for millions of gamers in these emerging markets,” he added. 

In its 2021 cloud gaming report, Newzoo indicates that in Sub-Saharan Africa, the gaming population rose from 77 million in 2015 to 186 million in 2021. The report also forecasted that the population would grow further in the next three years. 

During its market research for MVM, Nestcoin noted the ever-growing number of African gamers and the lack of platforms combining gaming and blockchain. In 2021, it started a gaming guild offering play-to-earn scholarships to over 1,000 gamers to play crypto games like  Axie Infinity and Pegaxy.

To date, Nestcoin claims more than 100,000 members across its products and community. It plans to build a social gaming app that would reduce unemployment in Africa and create opportunities for the continent's 186 million-plus gamers. "[...]In a decade, I would love for us to have the kind of impact that Tencent has had on the gaming industry in Asia. If we can do up to 2% of that, it will be incredible," said Yele Bademosi.

Samira Njoya