AfrofutureDAO and The HBAR Foundation Partner to Support Africa’s Creative Industry in Web3 through the $1M African Metaverse Fund.
AfrofutureDAO, a Nigerian Web3 startup focused on the African Creative Industry, teamed up with The HBAR Foundation to launch the African Metaverse Fund. This $1 million grant fund aims to support Africa’s creative sector’s transition to the metaverse.
AfrofutureDAO introducing Derived
As part of the African Metaverse Fund, AfrofutureDAO also launched its first product, Derived. A platform through which African cultural institutions and museums with NFT artists will connect to remix archives into art.
The platform allows museums to monetize their digital archives in new ways and fosters the NFT artist community.
The first product launch features museum partners such as the Centre For Memories in Enugu and The Mohammed Amin Foundation in Nairobi. “We plan to share Africa’s story through photojournalism and art,” says Salim Amin, Chairman of Camerapix and The Mohammed Amin Foundation.
“The time is right, as the continent is experiencing rapid economic, cultural, and social development. We hope to capture and celebrate these moments through our partners involved in this initiative.”
Empowering African culture
“African culture has recently gained worldwide recognition through films like Black Panther and artists like Burna Boy,” says Osinachi, co-founder of AfrofutureDAO.
“It’s crucial for Africa’s creative industries to take advantage of this trend and be among the first to enter the metaverse. This way, they can unlock the full potential of Africa’s rich culture and reinvest it in the continent’s youth,” he added.
The AfrofutureDAO purpose
AfrofutureDAO is a community DAO launched as part of Seed Club’s 2nd cohort. Their mission is to unlock the value of Africa’s history and creative industries in the metaverse. They do this through NFT drop weeks, metaverse events for African brands, and by commissioning Africa’s top creators. To date, the DAO has generated 36.45 Ethereum from 3 NFT auctions.
About the HBAR foundation
The HBAR Foundation supports the creation of Web3 communities on the Hedera network. They fund and empower builders to develop these communities focused on the Crypto Economy, Metaverse, Sustainability, Fintech, Privacy, and Female Founders.
By supporting these communities, the foundation enables entrepreneurs, developers, and enterprises to tackle global problems and create their economies. They are dedicated to supporting existing EVM-based applications and communities and new ones on the Hedera public network.
