The ink is drying on the Animoca Brands acquisition of Cool Cats, and while headlines tout ecosystem benefits and strategic positioning, I'm asking a different question: What does this mean for African NFT creators? Don’t misinterpret me, this is not to take away from the high numbers – $410 million in 24-hour trading volume is certainly no small feat. Yes, Yat Siu joining the Cool Cats board on this one is indeed a ‘goodfellas’ style power move. Let’s go beyond the surface level revealed in the press release.

Are Forgotten Voices Finally Heard?

The NFT space, like most tech industries, suffers from a lack of diversity. After all, western projects still dominate the headlines, the investment, and, quite frankly, the entire narrative. African artists, developers and digital collectors are frequently in contention for attention and opportunity. They're building incredible things – vibrant, culturally rich NFTs that reflect their heritage and vision – but they're fighting an uphill battle against a system that often overlooks them. Will this Animoca Brands deal disrupt that, or just bolster the new status quo?

Think about it. As we said before, the Mocaverse is meant to be this truly interconnected digital universe. If it genuinely intends to be inclusive, it must take a proactive approach to nurturing and supporting African voices. Doing this is not the same as passively waiting for African creators to “break through.” Animoca will need to proactively find these innovators. They need to put their money where their projects are and provide the project-related mentorship and resources needed to ensure success.

From our experiences thus far, we’ve had glimpses of genius from the very wide and dispersed African NFT ecosystem. The talent is irresistible, the artistry spellbinding, the cultural narratives breathtaking. What is lacking, however, is the platform, the funding and the acknowledgment. This Cool Cats deal may be the tipping point, but only if Animoca decides to execute to that potential.

Cool Cats, Hot Opportunity or Colonialism 2.0?

Here's where my anxiety kicks in. Without careful intentions, massive acquisitions like this can quickly become digital colonialism. A Western company sweeps in, buys up a valuable asset, and integrates it into their existing ecosystem, potentially extracting value without truly investing in the local community. 3rd question—Will Cool Cats entering the Mocaverse really provide African creators a seat at the table? Or will it simply become another mechanism through which Western firms monetize African creativity?

It's a valid concern. We want to see real action from Animoca to redress these harms. Highlighting promising African NFT initiatives is an important first step. What about dedicated funding programs? How about mentorship opportunities that host groups of African creators alongside seasoned developers and LGBTQ marketers from the U.S.? How about taking concrete steps to promote diversity and inclusion to the extent possible within the Mocaverse governance structure?

Don't forget, the real beauty of blockchain comes with its radical decentralization and democratization. That potential is more easily wasted if we neglect to consciously battle all that centralization and inequality’s corrosive forces.

Time to Invest, Not Just Acquire

This isn't just about charity. It's about smart business. Needless to say, the African continent is a thriving host of creativity and innovation. Animoca is making a very smart investment by directly supporting African NFT creators. They understand the transformational power of reaching this enormous market. They’re learning with direct access to special artistic talent and cultural perspectives that will make the whole Mocaverse ecosystem more valuable.

The Animoca-Cool Cats partnership is an exciting precedent. It can be a win-win for all of us, especially African NFT creators. It's up to us, the community, to ensure that it doesn't become just another example of Western dominance in the digital space. So let’s advocate for a future where the Mocaverse genuinely embodies the beauty, diversity, and dynamism of the global NFT landscape. This is our opportunity—let’s ensure that African voices are heard, but amplified. Let's demand investment, not just acquisition.

  • Seek out African NFT projects: Explore platforms like OpenSea and Nifty Gateway, and actively search for collections created by African artists. Support them by buying their work and spreading the word.
  • Demand transparency: Ask Animoca Brands what specific steps they're taking to support African NFT creators. Hold them accountable.
  • Amplify African voices: Share the stories of African creators on social media. Help them get the recognition they deserve.
  • Invest in education: Support initiatives that provide training and resources to aspiring NFT creators in Africa.

The Animoca-Cool Cats deal is a significant moment. It has the potential to be a win for everyone, including African NFT creators. But it's up to us, the community, to ensure that it doesn't become just another example of Western dominance in the digital space. Let's push for a future where the Mocaverse truly reflects the diversity and dynamism of the global NFT community. Let's make sure that African voices are not just heard, but amplified. Let's demand investment, not just acquisition.