Africa Startup League initiative powered by Humanity Node Protocol (HNP), Web3Africa, and Adanian Lab will see 10,000 African-owned enterprises compete for a grand prize of $1 million.
The three firms have partnered to empower startups across Africa to build innovative technologies and businesses, where each business will build technologies on the blockchain.
John Kamara, Founder of Adanian Labs, said the opportunity is for young Africans to take part in this initiative being a time when the world is witnessing a change in how decentralized finance and blockchain technologies are impacting societies globally.
Africa has been at the forefront of implementing new blockchain technologies hence a great potential.
Aly Ramji, Managing Editor and Co-Founder of Web3Africa.news, said that a new startup ecosystem is forming in Africa to address the continent’s most pressing issues using crypto and blockchain technology.
Further remarked that in the midst of the next digital revolution of the global economy, Africa has yet to fully realize the promise of blockchain technology, hence this is where Web3Africa, will seek to change the perception and understanding among millions across the continent.
The competition is set to run from August until December whereby the winners are chosen and announced no later than December 15, of each year.
In August, up to 10,000 teams will be allowed to register for the year’s startup competition in which the top 100 projects will win cash prizes (investments) with the minimum cash prize being $10,000.
The rules of the African Startup League are to be published in The Exchange on or before June 8.
This partnership will also see 300, 000 Africans who have been registered and had their identities verified, issued with Humanity NFTs on or before August 8, 2022.
Marcus Dukes the Founder of the Humanity Node Protocol said that this is indeed a big opportunity for the planet to do good for humanity while ensuring incredible returns from the efforts.
These Humanity NFTs represent ownership in the governance nodes of HNP and the communication, financial, distribution, and transactional infrastructure (rails) of the coming multi-trillion dollar decentralized GDP of Africa.
HNP based in Nairobi, Kenya has partnered with Adanian Labs (also based in Nairobi) to create the business model and operating protocols for the Humanity NFTs and expects the Humanity NFTs would generate over $1,000 a month ($12,000 a year) income for the chosen recipients awarded the Humanity NFTs.
Each awardee is required to commit 100 hours of service to Humanity Node Protocol which will create 30,000,000 hours committed to further building out the infrastructure needed to usher in the African era of hyper-economic growth.
The aim is to serve the continent’s rich and deep talent pool that will support the realization of a new prosperous African continental economy powered by possibilities created by blockchain.
