Latest news with #SocialFi
Business Insider
22-04-2025
- Business
- Business Insider
Nigeria emerges as Africa's Web3 talent hub with 4% of global new developers
Nigeria is rapidly establishing itself as Africa's leading Web3 hub, according to the Nigeria Web3 Landscape Report 2024. The landmark report released by venture capital firm Hashed Emergent offers a comprehensive overview of Nigeria's blockchain ecosystem, detailing the progress of over 80 startups that have collectively raised more than $130 million to date—including $20 million in 2024 alone. The report highlights a shift in funding activity, with early-stage deals and ecosystem grants playing a major role. Infrastructure startups attracted $11 million, while financial platforms—especially those leveraging stablecoins—received $7 million. Although investment in entertainment and gaming sectors dipped sharply, builder interest remains active in areas like SocialFi and NFTs. One of the report's key insights is Nigeria's surging developer community. Nigeria's rising crypto market Nigeria's crypto market is showing rapid growth, surpassing other African nations. According to a September 2023 report by blockchain research firm Chainalysis, the country's transaction volume increased by 9% year-over-year, reaching $56.7 billion between July 2022 and June 2023. This growth significantly outpaces that of major African markets such as South Africa, Kenya, Mauritius, Ghana, and Tanzania. In 2024, the country recorded a 28% year-on-year increase in developers, accounting for 4% of all new Web3 developers globally—the highest from any African nation. Notably, 86% of these developers are under 27 years old, with most entering through grassroots initiatives like Web3bridge, Web3Ladies, and SuperteamNG. Crypto adoption in Nigeria continues to evolve beyond trading and while regulatory uncertainty remains, the report notes progress. The Central Bank of Nigeria reversed its ban on crypto-related accounts in December 2023, and the Securities and Exchange Commission launched the Accelerated Regulatory Incubation Program (ARIP) to onboard new digital asset firms. Stablecoins now dominate usage, with the USDT/NGN pair becoming the most traded on centralized exchanges.
Associated Press
27-01-2025
- Business
- Associated Press
Winvest Group (WNLV) Strategically Enters GameFi and SocialFi: Redefining Decentralized Entertainment and Social Interaction
RENO, NV, Jan. 27, 2025 (GLOBE NEWSWIRE) -- Winvest Group Limited (OTC: WNLV), an innovative leader in the entertainment and investment industry, has officially entered the blockchain financing space and is aggressively optimizing and upgrading the future of contents, film, gaming, and social interactions in a unique, yet in-demand way. This strategic move reflects the company's mission to integrate advanced technologies into its core business, creating a decentralized ecosystem that bridges the gap between traditional audiences and digital asset enthusiasts. As part of its disruptive strategy, Winvest Group announced a partnership with WMM to develop a virtual platform called 'Joyous Island,' which is scheduled to launch in 2025. 'Joyous Island' combines the innovations of GameFi and SocialFi to provide users with a unique interactive experience with the 'I Ching' element, which symbolizes cultural depth. Users can participate in daily activities, pledge assets and interact with the integrated NFT ecosystem through game passes. The platform not only caters to the needs of the digital gaming community, but also opens up new paths for traditional market participants to connect to digital assets, offering the possibility of diversified approaches to passivization. In addition to Joyous Island, Winvest Group's strategic vision extends to the entire entertainment sector, exploring the in-depth application of blockchain technology. In the future, the company plans to use blockchain to empower every stage of film production, from pre-production to post-distribution, promoting transparency and efficiency. In addition, Winvest is committed to establishing broader partnerships with Web3 and blockchain technology companies to unlock new revenue growth points in the movie industry through innovative entertainment models such as NFT-driven pre-sales and digital merchandise trading. This expansion comes at a time when decentralized finance and digital entertainment are experiencing explosive growth. According to a new market research report by For Insights Consultancy, the GameFi market is expected to exceed $50 billion by 2030, a statistic that further validates the market potential of platforms such as Joyous Island. While the rise of the SocialFi space is accelerating as users demand transparent, decentralized, and monetized platforms, Winvest Group's strategic development not only allows it to stay on top of industry trends, but also provides new value experiences for both traditional investors and digital pioneers. With its innovative approach, Winvest Group is not only embracing blockchain technology, but also paving the way for a new era of entertainment and investing. As the company continues to expand its presence in GameFi and SocialFi, it remains committed to empowering creators and audiences, fostering meaningful connections, and redefining the entertainment industry. About Winvest Group Winvest Group Limited (OTC QB: WNLV) is an innovative U.S.-based company dedicated to driving innovation at the intersection of media, entertainment and technology. By leveraging blockchain and Web3 technologies, Winvest aims to build sustainable decentralized solutions that drive growth in the digital economy. Media Contact
