The African continent continues to be a fertile ground for the growth and implementation of blockchain technology.
In the African Blockchain Report 2022 by Crypto Valley VC, it was stated that blockchain deals in Africa raised a total of $474 million, resulting in a 429% increase in African blockchain venture funding. This growth in funding for African blockchain ventures surpassed the global average, which only saw a 4% increase in blockchain funding.
According to the report, African blockchain funding demonstrated a growth rate that was over 12.5 times higher than that of general African venture funding on a year-on-year basis. Specifically, African blockchain ventures raised $474 million through 2022, reflecting a 429% increase in funding. In contrast, overall African venture funding saw a 34% increase, with $3.14 billion raised across 570 deals during the same period.
(by Amaka Nwaokocha)
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