core chain

Core Chain, a layer-1 blockchain dedicated to bringing decentralized apps (dApps) to the Bitcoin ecosystem, has announced a $5 million Africa Innovation Fund to empower Web3 builders across the continent. This initiative marks a bold commitment to nurturing the burgeoning African blockchain space and bridging the gap between promising projects and vital resources.

The Core Africa Innovation Fund will provide a multifaceted support system for African Web3 startups, encompassing:

  • Direct Grants: Financial assistance to fuel ambitious projects and kickstart development.
  • Technical Resources: Expert guidance and infrastructure tools to navigate the complexities of Web3.
  • Builder Programs: Mentorship and training opportunities to hone skills and refine visions.
  • Accelerator Partnerships: Connections with established organizations to fast-track growth and gain global exposure.
  • Investor Network: Introductions to venture capitalists and angel investors for potential funding opportunities.

Beyond Finances, Building a Future

“Africa is rapidly becoming a major hub for crypto and brimming with potential,” remarked Rich Rines, an initial contributor at Core Chain. “The Core Africa Innovation Fund is about more than just grants; it’s about building the next generation of builders and crafting a sustainable, interconnected blockchain future for Africa.”

This commitment to long-term growth and ecosystem development resonates with Core Chain’s larger vision. It follows the company’s recent announcement of a $200 million ecosystem fund and participation in Renzo Protocol’s seed round, showcasing a consistent dedication to fostering blockchain innovation across the globe.

Investing in the Future, Amidst Changing Tides

The Core Africa Innovation Fund arrives at a crucial juncture for Web3. Following a decline in funding for the sector, Core Chain is taking a proactive stance, recognizing the vast potential of Africa’s youthful and tech-savvy population. According to a Chainalysis report, Africa led the world in Bitcoin transaction volume between July 2022 and June 2023, further highlighting the continent’s inherent interest in blockchain technologies.

AlSO READ:  Ghanaian Fintech Startup Dash raises $32m to Connect Wallets across Africa

By empowering African Web3 builders with vital resources and strategic partnerships, Core Chain is positioned to play a pivotal role in unlocking the continent’s immense potential and shaping the future of decentralized applications on a global scale.

Follow Techspace Africa on Facebook and Twitter. For the latest news, tech news, breaking news headlines, reviews and live updates check out tech-space.africa


Nigel Jr.
As a tech enthusiast and expert, Nigel Jr. is dedicated to providing in-depth and insightful content on all things technology. With a background in online journalism, product reviewing, and tech creation, Nigel has become a trusted source for all things tech.

You may also like