Funding

Adaverse Backs Cassava Network With A Seed Investment To Empower African Content Creators

Story Highlights
  • Adaverse is a Cardano-focused joint accelerator initiative — set up with the collaboration of EMURGO Africa, a subsidiary of EMURGO, the official commercial arm of the Cardano protocol, and Everest Ventures Group, a leading blockchain industry accelerator — looking to build the infrastructure of the projected $139.4 billion African blockchain market by 2028. Since its inception in 2021, Adaverse has invested in strategic partnerships with six (6) result-driven, fast-rising startups across Africa and seeks to onboard more into the accelerator program.

Adaverse, a Cardano ecosystem accelerator established to foster the growth of crypto-native projects in Africa, today announced its investment into a seed funding round for Cassava Network, a blockchain infrastructure that empowers African content creators, developers, and end-users through mutually aligned tasks and incentives. Over 40 investors, including Dragonfly, CMT Digital, YGG, Mirana, etc., participated in the recently closed investment round to implement the next phase of Cassava platform development.

Adaverse was launched in September 2021 as a joint venture partnership between EMURGO Africa and Everest Ventures, to identify and provide valuable support resources to promising African founders building the next wave of Web3 dApps in DeFi, NFTs, gaming, and metaverse tools on Cardano’s third-generation and environmentally-sustainable blockchain.

What is Cassava Network?

Cassava is a blockchain infrastructure that connects developers and users to the Web3 ecosystem. Through its native token CSV, Cassava transforms any web application into a crypto-enabled app suitable to reward contributors and end-users for their dedication. Their product offering consists of token rewards networks, digital identification systems, user-controlled data profiles, and a crypto and NFT wallet specifically designed to empower content creators.

Cassava Network will use the investment capital to expand and improve its technological capabilities in order to leverage the Web3 economy to drive crypto mass adoption across Africa and beyond. The next phase of Cassava development will include a multi-chain wallet that incentivizes users, an African-focused NFT Marketplace, and a rewards system that pays users for transacting and using apps in Cassava’s ecosystem. ” 

The Cassava Network’s PR Director, Kelin said

Why Cassava Network?

Cassava offers a unique opportunity for African creatives to build digital economies, protect their intellectual properties and connect with the global market at large, through an easy-to-use multifunctional wallet that can be integrated with apps for user incentivization.

Source
TechPoint

Nichole Manhire

Is the media and brand manager at GFA News. She works very closely with editors and podcasters that contribute to telling the African business success story. For marketing and advertising send Nichole an email: nichole@getfundedafrica.com

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