Kira | WebAfrica
Nigeria has solidified its place as the leading Web3 hub in Africa, with over 80 blockchain startups raising a combined $130 million so far $20 million of that raised in 2024 alone. From DeFi to NFTs and stablecoin-based solutions.
At the core of this growth is a young, tech-savvy developer community. Nigeria accounted for 4% of the world’s new Web3 developers in 2024 the highest from any African country. Over 86% of these developers are under the age of 27, many of whom are self taught.
Stablecoins are also playing a key role. In Q1 2024 alone, Nigerians transacted nearly $3 billion in stablecoins, with USDT/NGN being the most traded pair. This shows how locals are using blockchain not just for speculation, but to solve real life problems like inflation
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