Animoca Brands picking up Cool Cats …just another Tuesday in the Web3 zoo, huh? Wrong. But it’s more than just a dueling megamerger between two heavyweights. Now, is the moment for a seismic shift. This is our opportunity to truly tap into the incredible African NFT market. Move over Bored Apes – we’re discussing a whole continent bursting with artistic genius, but lacking in prospects. Could this deal be the key? I think it just might be.

African Art Meets Global Stage

Western projects and Western artists have long controlled the story of NFTs, and for too long. And while there’s nothing wrong with that, it’s a huge mistake. Africa is a continent teeming with creativity, a place where artists—be they musicians, filmmakers, visual artists, fashion designers, etc. The problem? Access. Access to market, access to capital, access to the technology.

Think about it. With that said, how many African NFT artists can you name right away? Probably not enough. This isn’t a talent issue, this is an infrastructure issue. And that's where Animoca Brands comes in.

Animoca's acquisition, with Yat Siu and Kenneth Shek joining the Cool Cats board, isn't just about adding another NFT project to their portfolio. Capitalise on Cool Cats brand recognition, being a highly regarded top-20 NFT collection with more than $410 million in trading volume. Partner with Animoca’s experience building bridges to Africa.

Now picture African artists having the opportunity to exhibit their art on a platform that’s already well-known and respected by audiences across the world. Now, picture them having access to the funding and mentorship they need to fully thrive. That's the potential here. That's the dream. All of a sudden, the galloping $7 billion NFT marketplace doesn’t feel like it’s on another planet.

Decentralized Identity: Africa's Digital Key

Here's where it gets really interesting. Animoca intends to connect Cool Cats into its Mocaverse and Moca Network initiatives. Moca Network’s decentralized identity infrastructure is ushering in a new financial paradigm. It energizes a continent, where these systems often fail to serve the needs of the majority.

Consider some of the most pressing issues for financial inclusion on the African continent. Millions more don’t have easy access to bank accounts, credit cards, or other fundamental financial tools. This bars their access and meaningful participation in the emerging digital economy, including the NFT marketplace.

Decentralized identity (DID) offers a solution. It puts users in charge of their own digital identities, freeing them from the need to trust central authorities. This can empower African users to access financial services, participate in online communities, and monetize their work as NFT artists, regardless of their background or location.

Mocaverse and its DID may hold the key to unlocking the burgeoning African NFT market. It thus provides the means to onboard new users, provide secure and transparent transactions that anyone can verify, and create more trust in the ecosystem as a whole.

This is huge. And it’s more than the artistic angle, but the empowerment aspect, about letting Africans take control of this new turn in their digital lives.

Beyond the Hype: Realistic Optimism

Okay, let's not get carried away. This isn't a magic bullet. There will be challenges. In African countries, digital literacy rates are still the lowest in the world while access to reliable internet connectivity is one of the biggest obstacles. Developing a healthy NFT ecosystem will involve a lot of time and money on education, development and governance.

Additionally, many of these same potential users may already be skeptical of NFTs. There have been many scams. The best things to do now are be transparent and educate.

Yet for all these challenges, the potential is unmistakable. Correctly employed, Cool Cats’ brand passion provides undeniable strength. When paired with Animoca’s unmatched resources and Moca Network’s decentralized identity infrastructure, it creates an environment primed for explosive growth.

This deal isn't just about Cool Cats. For Karen, it’s about democratizing access to the NFT market and empowering African artists and creators to reach a global audience. It’s about making space for Africa at the decision-making table.

Combining the East-origin Mocaverse with the West-origin Cool Cats, as Yat Siu illustrated, reflects a more global mentality. This is more than a simple East/West tug of war. It’s about being able to create our global village, our own digital commons that everybody can enter and benefit from.

Ken Cron's vision of a Web3 future, combined with Clon's excitement about connecting with a wider audience, echoes the sentiment. This is about creating something larger than us, something that goes beyond boundaries and across cultures.

Most notably, this acquisition is the City’s big, bold move, the shot fired over the bow, the statement of intent. All of this provides an opportunity to create a more inclusive and equitable NFT ecosystem. It’s an opportunity to open the floodgates of what African creatives’ potential can be. To begin to make the African dream a reality.

Will it be easy? Absolutely not. But is it worth fighting for? Absolutely.