Jambo, a Congo-based firm that is creating Africa’s web3 user acquisition gateway by democratizing access to crypto-based income-generation opportunities through “learn, play, earn,” has acquired $7.5 million in venture funding.
According to experts, Africa is set to be disrupted by web3 in the same way that Southeast Asia has become one of the best markets for web3. Due to the acceptance of crypto and play-to-earn models, firms like as Axie Infinity and Yield Guild Games have raised millions of dollars in venture financing.
Africa is the next ripe ground for web3. It has a combination of advantages, such as a fast-growing population — the world’s youngest — solid smartphone penetration, and increasing crypto usage, as well as downsides, such as low GDP per capita across the board and unemployment.
Jambo intends to onboard millions of users to web3 across Africa through its applications, according to James Zhang, the company’s co-founder and CEO. After realizing the chance to replicate the success of web3 initiatives in Southeast Asia across Africa, he started the company alongside his sister, both Congo-born Chinese, in November 2021.
Although users of Axie Infinity and other guilds receive money just when they play games, Jambo takes a two-pronged strategy by allowing them to earn money when they participate in web2 and web3 activities.
