African degens are on a journey to the moon. With crypto, African people’s savings are hedged against insane inflation levels, they can find employment in Web3, and there is always the potential to make life-changing money that will transform the trajectory of their lives forever.
People from various backgrounds are embarking on this journey to outer space. These crypto astronauts have, until recently, been hesitant to declare their involvement in the blockchain space. General sentiments around crypto were extremely negative due to the huge slew of scams disguised as cryptocurrency projects that swept through the continent, taking away hard-earned capital and confidence in anything branded with crypto.
Regulation has not helped in this case either. In most African countries with signs of strong crypto adoption, central banks issued statements that cast a shadow on the already “questionable” sector. In Nigeria, Ghana, Zimbabwe, Uganda and Kenya, regulators took turns issuing warnings to the general public about the dangers involved with crypto. Being involved in crypto would regularly lead to a few chuckles and hostile responses anytime you were bold enough to admit it.
A new wind is blowing
The situation has changed dramatically in recent times. Real-life examples of early-investors-turned-influencers who acquired property through cryptocurrencies proved to be great ads. Furthermore, the degens who had been given a bad name for so long were relentless about their efforts to share the good news about cryptocurrencies. Those few who dared enter the space despite the bad PR placed a huge emphasis on education, which has resulted in crypto becoming a household name. Also, the economic conditions of the last few years made the argument for a decentralized permissionless digital economy more sound than ever.
Inside the new class of cryptocurrency adopters is a set of people who truly stand out: celebrities. They are everywhere — on our screens, on billboards and now in our crypto world. These famous athletes, musicians and actors are joining the space in many ways, but for the sake of this article, I will group them into three groups: promoters, experimenters and the curious.
Related: Here’s what’s happening in Web3 across Africa
Promoters
As established already, the negative PR that crypto has faced in Africa means that lots of rebranding and promotion are needed. The huge interest in crypto on the continent has attracted some big spenders, such as…
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