Meet Fatima, a young coder from Lagos, Nigeria. She slouches over a friend's laptop, her face aglow from streams of code. Under the darkened desk of her family’s cramped flat, this 12-year-old girl codes all day with a focused intensity. She dreams of building worlds—of creating games that reflect her culture, her heritage, her Africa. The barriers seem insurmountable: lack of funding, limited access to resources, and the daunting feeling of being excluded from the global tech conversation. Such is the life of so many immensely gifted Africans. Adam Weitsman’s recent NFT move shows promise beyond just an increase in floor price. It tantalizes with the promise of great unclaimed opportunities in the sector.
Could This Investment Empower Africa?
Weitsman, the upstate scrap-metal billionaire, recently bet big on New York’s emerging investment cluster. He even bought 5,000 Otherside NFTs directly from Yuga Labs! Otherdeeds, Mega Kodas, Weapon Kodas – the works. He’s locking them up for 10 years, giving a clear indication of his long-term bullishness on this Otherside metaverse. Okay, great. But how does this relate to Fatima and the millions of other Fatimas all over the African continent?
Here's where the unexpected connection comes in. Weitsman’s investment aims even higher, into the high-roller NFT collecting and metaverse land ownership universe. It has the potential to serve as a more powerful catalyst. Think of it like this: a rising tide lifts all boats. As Yuga Labs further invests in Otherside direction, trying to return the metaverse gaming space to its heightened glory of 2021 — they’re building a platform. An opportunity that, if given access to, can equip powerful African creators to play a leading role in a new global digital economy.
We’re referring to a paid opportunity for artists from the African continent to contribute NFT-based assets into the Otherside ecosystem, which can then be sold. For African developers to be able to create and localise immersive experiences in the metaverse. For them to make a living on the African continent under play-to-earn models that have become so popular recently. The potential for economic empowerment is not just theoretical — it’s profound.
The potential of play-to-earn (P2E) is hugely exciting though. In an age of increasing automation, for the majority of young Africans, there are no traditional pathways to employment. P2E provides a new hope, an opportunity to gain a steady source of income while engaging in an activity they are fond of – gaming. Imagine Fatima earning crypto by crafting stunning virtual landscapes within Otherside, landscapes inspired by the vibrant beauty of her homeland.
Let's be realistic. Whether this be politicians, musicians or celebrities, the current NFT landscape is not very inviting for the average African. The cost of entry – purchasing NFTs, covering gas fees, accessing the required technology – is often prohibitively high. That’s where we should direct our collective grassroots energy.
- African Artists creating and selling NFT
- African Developers building immersive experience
- African Gamers earning through play-to-earn
Play-to-Earn: A Game Changer for Africa?
Yes, there's skepticism about reviving NFT-based gaming. I get it. The hype of 2021 has faded. The market is slow. Yuga Labs is necessarily focused on community-built experiences, not just what they’re able to create themselves. This is a crucial point. If Otherside truly lives up to the promise of being a decentralized, community-driven metaverse, then the opportunities for African participation will only increase.
Weitsman's investment isn't a magic bullet. But it is a spark. But it’s an encouraging notion about the future of the metaverse, even though it is struggling today. The recent peak in Otherside's floor price after the announcement, even if short-lived, demonstrates the power of belief and investment.
Bridging the Digital Divide: How, Truly?
Will we work to ensure that the benefits of the metaverse are shared equitably, reaching even the most marginalized communities? Will we set Fatima free — and the millions of Fatimas out there? Only then, together, can they dream their own dreams, forge their own paths, and design their own destinies.
We can’t afford to miss this opportunity. Join us in making Africa’s metaverse moment all about opportunity and prosperity. It's time. It’s high time we move beyond this to create a more inclusive, equitable, and ultimately vibrant digital future for all.
- Community-Led Initiatives: We need to support initiatives that provide access to technology and education to African communities. Think of coding bootcamps, NFT workshops, and metaverse literacy programs.
- Democratizing Access to NFTs: We need to explore ways to lower the cost of entry into the NFT space. This could involve fractionalizing NFTs, creating subsidized marketplaces, or developing layer-2 solutions that reduce gas fees.
- Investing in African Creators: We need to actively seek out and support African artists, developers, and gamers. This means providing funding, mentorship, and exposure to global audiences.
Weitsman's investment isn't a magic bullet. But it is a spark. It's a reminder that the metaverse, despite its current challenges, still holds immense potential. The recent peak in Otherside's floor price after the announcement, even if short-lived, demonstrates the power of belief and investment.
The question is, will we seize this moment?
Will we work to ensure that the benefits of the metaverse are shared equitably, reaching even the most marginalized communities? Will we empower Fatima and millions like her to build their own worlds, to create their own opportunities, to shape their own futures?
Here's what you can do:
- Support African Creators: Seek out and purchase NFTs created by African artists. Promote their work on social media.
- Invest in African Metaverse Projects: Look for opportunities to invest in startups and initiatives that are building the metaverse in Africa.
- Advocate for Access: Contact your elected officials and urge them to support policies that promote access to blockchain technology and digital literacy in Africa.
Let's not let this moment pass us by. Let's work together to make Africa's metaverse moment a reality. It's time. It's time to build a more inclusive, equitable, and vibrant digital future for all.
