- Carry1st is an entertainment company that leverages Africa’s gaming industry, with its headquarters in Capetown
- It acquired s a $20 million series A funding extension round led by a respected Silicon Valley firm Andreesen Horowitz
- Recently, Carry1st closed a $27 million funding round to advance its publishing and digital content creation platform.
- By 2027, the number of digital games will increase to more than 180 million
There is an application of blockchain that is taking the tech world by storm, blockchain gaming. Indeed crypto games have grown popular over the years, and the industry is steadily gaining traction. Web3 gaming has slowly transformed the gaming industry in Africa. Participants and critical figureheads are all gunning to make the most profit. In recent news, Cary1st has raised $27 million in a funding round led by Bitkraft Ventures.
This feat is a significant leap for this African-based industry and a milestone for blockchain adoption in Africa.
Who exactly are Carry1st
Carry1st is a mobile content development startup whose main headquarters is in Capetown. Mobile distribution in Africa has rapidly grown, and the lucrative venture needed a better sense of competition. Thus Cordel Robbin-Coker, Lucy Hoffman and Tinotenda Mungangepfupfu started this mobile development franchise to take advantage of the opportunity presented to them. Carry1st is an entertainment company that leverages Africa’s gaming industry.As the decades passed, Africa has slowly but steadily edged into the technological world. Smartphones are one of the first frontiers where their ecosystem dominates. As such, mobile gaming has become popular among African youths. According to a report, Carry1st strategically placed itself within the African ecosystem to take advantage of the steady growth rate of this new upcoming industry.
Experts predict that by 2027, the number of digital games will increase to more than 180 million. In addition, when blockchain technology debuted, its compatible nature with Africa spelt great news for Carry1st as it ushered in the Web gaming concept.
The company has had a series of success stories right from its launch.
It acquired s a $20 million series A funding extension round led by a respected Silicon Valley firm Andreesen Horowitz. It also acquired support from other big-league industries, such as Avenir and Google. Its strategic plans and incorporation of crypto games intrigued various crypto investors such as Nas and founders of ChiperCash, Sky Mavis and Yield Guild Games. This initial burst of success enabled the franchise to dive into Web3 gaming fully, inevitably aiding its popularity and market growth.
Since 2021, Carry1st has grown over 90% month over month, an impressive feat. The gaming industry in Africa has proven lucrative, and organizations such asBitkraft Ventures have taken the next step to collaborate with Carry1st to advance blockchain gaming in AFRICA.
Carry1st raises $27 million to fund Web3 gaming projects in Africa.
The gaming industry in Africa arrived at another crucial milestone as Carry1st closed a $27 million funding round to advance its publishing and digital content creation platform.
This funding round was led by bBitraft Ventures with additional participation from a former ally of the mobile games publisher, Andreessen Horowitz or 16z. In addition, the exponential growth of Carry1st within blockchain gaming also attracted other vital figureheads. TTV Capital, Konvoy, Alumni Ventures, Lateral Capital and Kepple Centuries are among the few who see the potential of crypto games in Africa.
A spokesperson for Carry1st stated that the latest funding would aid in its operations to expand the capabilities of Pay1st. Pay1st is their company’s monetization-as-a-service platform that allows third-party publishers to make more money in Africa.
The company’s main initiative was to develop a conducive environment in Africa that would allow a play-as-you-earn movement through crypto games.
Africa’s significant digital asset adoption has made this dream possible as it continues expanding its crypto ecosystem. Blockchain gaming is already a new concept, and anything new often enthrals many gamers. As such Web3 gaming is steadily rising, and more organizations are partnering to ride the tides of blockchain before another innovation replaces it.
When asked about the potential of crypto games, web3 gaming and the gaming industry of Africa, a spokesman of carry1st has a unique comment. They stated that blockchain gaming has little to do with the crypto adoption rate in Africa. Instead, it owes its success to the global adoption of mobile technology in Africa. Games are a dominant form of media and are everywhere worldwide. Africa is similar in terms of blockchain gaming and the adoption of crypto games. The only significant difference is the rapid adoption rate it had.
Web3 gaming is currently gaining its foothold in Africa as more and more crypto gamers rise. The gaming industry in Africa is already massive, and the numbers will only considerably increase with blockchain gaming. The highly young population is another factor that led to the widespread of Web 3 gaming and its adoption. This is one of the few signs that indicate, Web3 still has a future in 2023.