The numbers don't lie. NFT trading volume exploded in July. Up 96%! I'm not just excited about the what, I'm obsessed with the who. The “who” that everyone is really missing is Africa.

Africa's Untapped Creative Goldmine

Think about it. A continent filled with wonder, beauty, creativity, imagination and profoundly deep stories. Hundreds of years of artistry simply ready to be digitized, tokenized and made available to the world. The Western misconception about NFTs being all Bored Apes close-up. But Africa has already got some lessons to teach them about what digital ownership really means. We’re discussing empowerment on a scale that the crypto bros never could have imagined.

That’s why I view NFTs as a digital key that could unlock Africa’s creative potential. We're not just talking about selling JPEGs. We're talking about:

  • Empowering Artists: Providing a direct route to global markets, bypassing traditional gatekeepers. Imagine a young artist in Lagos selling their art directly to collectors in New York, earning royalties every time it's resold. That's revolutionary.
  • Preserving Cultural Heritage: Tokenizing traditional artifacts, music, and stories, ensuring they're preserved for future generations and shared with the world. Think of it as a digital museum, accessible to everyone, everywhere.
  • Building Communities: Creating NFT-based communities around shared interests, providing access to exclusive content, experiences, and opportunities.

It's about more than just profits. Cultural preservation is deeply rooted in our mission. We seek to achieve economic empowerment, realizing a future where African creators are the ones who shape their own narratives. This isn’t only the case with NFTs, but about recreating a long history of inequity.

What About The Barriers To Entry?

Okay, let's be real. Access to technology, elevated gas fees, and lack of education are HUGE hurdles. I get it. These challenges are opportunities in disguise.

Remember Zora? The platform built on Coinbase's Base network? That’s a game changer. Layer 2 solutions like Zora are reducing minting costs, democratizing access to NFTs for creators who were once locked out due to cost. And that's just the beginning.

Think about the power of mobile. It is true that Africa has among the highest mobile penetration rates in the world. Mobile-first NFT platforms will help unlock this powerful technology for the masses. Now picture a creator minting, selling, and trading NFTs all from their phone. That’s the future.

We need to support community-led education programs. Forget the crypto jargon. Rather, let’s make it our mission to educate them on how NFTs can help them tackle their real-world challenges. Let's show them how to use NFTs to fund education, support local businesses, and build a better future for their communities.

NFTs, DeFi, And Social Justice

Here's where it gets really interesting. The advent of tokenized stocks in DeFi, wallet interactions going up 2000 percent annually, and market caps exploding… It's all connected. NFTs are more than art, they’re access. NFTs have been widely popularized as a digital art movement. They are about democratizing finance and putting individuals in charge of their own assets.

Now, I’m not saying that NFTs are a magic bullet. But when used correctly, they can be an incredibly powerful social justice tool. Picture utilizing NFTs to tokenize land rights, allowing communities to have ownership and control of their resources. Now, picture using NFTs to fund microfinance efforts. This model supports entrepreneurs often left behind by the mainstream financial system by providing them with a lifeline of essential capital.

This isn't just about making money. It's about building a more equitable world. It’s not just a moral imperative, it’s about empowering our marginalized communities while creating opportunity for all of us.

Blur dominates Ethereum NFT trading? Okay, fine. But let's not forget the real story. The story of the African creatives, innovators, and collectives who are harnessing NFTs to forge a more empowered tomorrow.

This NFT resurgence is not a passing fad. It is this last action that should give us hope that the world around us is ready for a new model of ownership and creativity. Africa’s next generation is uniquely equipped to show us the way. It's time to pay attention. It's time to invest. It's time to believe. Because the future of NFTs is African.