Opportunity & Overview
Africa is growing exponentially, with the population expected to grow to over 2.5 billion by 2050. The African crypto market has grown by over 1,200% over the past year. Chainalysis estimates that African countries collectively received around $105.6 billion worth of cryptocurrency between July 2020 and June 2021. Africa has some of the highest crypto adoptions rates in the world, including South Africa 13%; Nigeria 11%; Ghana 6%; Kenya 5%; and Egypt 4%.
There is a wave of optimism around Africa’s start-up ecosystem, with four companies recently hitting a $1 billion (unicorn) valuation. Emerging markets investment analysts are betting on the continent’s crypto and tech-savvy population to provide even more unicorn status companies for the region.
In 2021 the NFT market exploded, enabled by blockchain and crypto. NFT sales have already reached well over 23 billion dollars in 2021, with most of this activity coming from the USA, Europe and Asia. We believe there is a unique opportunity for an African focused virtual experience and marketplace to uncover Africa’s untapped creative talent.
People are spending increasingly more time in virtual worlds, for both leisure and work. This occurs predominantly in 2D interfaces like the web and mobile phones. A traversable 3D world like Africarare adds an immersive component, as well as adjacencies to other content, enabling physical clusters of communities and the development of a real interactive and value exchanging society in the metaverse.
There is a unique opportunity for an African NFT marketplace to uncover Africa’s untapped creative talent. That’s why the Africarare team are building this unique, value driven African metaverse in which $UBU token holders and tribes (the people of Ubuntuland) can create digital assets (Non-Fungible Tokens, aka NFTs) and upload them to Ubuntuland.
HOW IT WORKS
Enter Africarare as a virtual NFT avatar at the welcome area of the central village, and start developing your own unique persona and crypto portfolio in virtual Africa. Purchase unique items for your avatar in the marketplace. Join your tribe and unlock your potential in the virtual world of Ubuntuland.
In addition, there are designated spaces on offer to serve the community for work, play and wellness purposes, including state of the art meeting rooms, online therapy rooms (with optional anonymity), world-class concert stages, film festival spaces, meditation lounges and many other dynamic interactive environments.