Adaverse seeks to invest in startups between Seed and Series A with an MVP and ideally, revenue, with ticket sizes typically ranging between $100k and $300k.

Despite the challenges of 2022, the African continent's blockchain community has continued to attract significant investments, with blockchain venture funding increasing five-fold on a yearly level.

Despite the challenges of 2022, the African continent's blockchain community has continued to attract significant investments, with blockchain venture funding increasing five-fold on a yearly level. In 2022, Africa raised $474 million, a 429% YoY increase from $90 million in 2021, with Seychelles and South Africa accounting for 81% of the funding. Africa had a higher funding growth rate than any other region, and its blockchain-focused annual funding growth was 759% higher than that of Asia. Additionally, Africa was the only region to experience an increase in median deal size, which reached $1.5 million. Blockchain funding achieved a record 15% share of all sector-agnostic venture funds raised by the continent, highlighting its emergence as a promising investment destination for blockchain-based startups.

TBD, a bitcoin developer-focused entity owned by Jack Dorsey’s Block, has partnered with Yellow Card, an Africa-focused cryptocurrency exchange platform, to launch a fiat on and off-ramp that enables payments in 16 African countries through Bitcoin rails. The new platform aims to make cross-border payments more affordable, accessible, and compliant. The partnership allows users to send US dollars or BTC and for recipients to receive the local currency equivalent. For recipients living in countries with hyperinflation, the platform can be used as a place to store BTC or stablecoins. Yellow Card's CEO, Chris Maurice, stated that the international payments space, especially in Africa, is in dire need of innovative solutions, and this is the culmination of the vision behind Block’s initial investment in Yellow Card in 2021. The partnership is expected to advance Block's empowerment via breaking down the barriers to financial access across the Global South.

Fonbnk, a Web3 on-ramp that enables Africans to obtain cryptocurrency assets by exchanging airtime credits, has partnered with Tanda, a merchant network platform in East Africa, to launch an airtime trading marketplace. The partnership will bring about an increase in liquidity to the marketplace through the buying and selling of prepaid airtime for profit, creating opportunities for agents to earn revenue and store their profits in dollarized stablecoins. The partnership enables more African users to participate in the Web3 economy, without requiring bank accounts or cards. Fonbnk plans to expand earning opportunities for African micro-entrepreneurs and bring DeFi-based financial inclusion to the masses across Africa. The top five African countries adopting Web3 and crypto are South Africa, Nigeria, Zimbabwe, Kenya, and Ghana, according to BitcoinAfrica.io.

Binance has partnered with African video streaming service Showmax in a collaboration aimed at deepening crypto adoption in Africa. As part of the collaboration, about 500 Nigerian Binance users who enroll to become active participants in Web3 will be rewarded with a month-long video streaming subscription. Binance's Emmanuel Ebanehita stated that the promotion comes at a time when many Africans are eagerly embracing the underlying technology behind crypto. The collaboration also showcases the crypto exchange's commitment to providing accessible and convenient platforms for users to participate in the digital economy. Opeoluwa Filani, the general manager at Showmax Nigeria, lauded the collaboration, which will see more people using his company's video streaming platform.

As African nations face banking challenges, Bitcoin offers a disruptive and transformative alternative to traditional financial systems, potentially unlocking economic power for those previously left out.

Bitcoin is set to become the go-to currency for moving money between African countries, according to a new report by CNBC.

Silicon Valley Bank's parent company SVB Financial Group (SIVB) has filed for Chapter 11 bankruptcy protection.

The pan-African venture capital firm, Echovc, recently said it had launched an $8 million fund which is dedicated to Africa’s blockchain startups. According to the company’s blog post, the fund known as the Echovc Chain will be accessible to startups that are attempting to solve the continent’s challenges using the blockchain.