- Binance has held over 50 community-based events across Africa with KOLs, merchants, users and other stakeholders.
- Showmax is highly popular within the continent, having over 861,000 users.
- In 2023, Binance held hundreds of events, including the Women in Crypto Event in Kampala.
Binance, the world’s leading crypto exchange platform, is gearing up for more African-hosted events. Even before Binance gained its fame, it acknowledged that crypto adoption in Africa is necessary if the concept of digital assets is to retain its value. Its actions have inspired various peers to join in promoting crypto adoption in Africa. Recently, Binance announced its collaboration with Showmax, Africa’s original video streaming services, to incentivize crypto adoption in Africa.
Will this new initiative finally achieve Africa’s former adoption rate? Or are the damages of the FTX crash still fresh in the minds of African crypto traders?
The largest crypto exchange focused on Africa.
Throughout the years, it became clear that Web3 and Africa were a match never seen before. Lady Luck had landed in Africa as Blockhain’s properties were compatible with the continent’s ecosystem. Despite the initial scepticism Africa has immersed itself in the various elements of Web3, crypto being its most profitable venture.Before the crypto crash, Africa had an astounding crypt adoption rate of 1200%, a figure never seen before by other countries. What’s more astonishing is that only a select few African countries have genuinely embraced the concept of crypto. This presented an opportunity that the Binance exchange could not pass on. Soon the largest crypto exchange set up plans, events, and educational tours around Africa to ap into the many countries yet versed in crypto trading.
According to the largest crypto exchange, 2022 was one of the most successful years in its petition to drive crypto adoption in Africa. Binance has sponsored various critical events in Africa. They included the 2022 AFCON tournament and Nigerian Idol Season 7, among others, to market some of its features. Binance has held over 50 community-based events across Africa with KOLs, merchants, users and other stakeholders.
These events primarily involved educating the African winder community on crypto use cases and how Binance spearheads this revolution. In addition, Binance has also engaged its online community of upto 400000 members across various channels in Africa. In 2022, Binance reported having over 70 KOLs and 60 Angles in the African community. All of whom continue to spread crypto adoption in Africa. They also held various met up in crypto strongholds such as Nigeria, Kenya and South Africa.
Largest crypto exchange partners with Africa’s original video streaming services.
Despite the year starting at a low point for crypto, the Binance exchange has made significant moves to kickstart the dormant crypto community within Africa. Its most recent milestone is partnering with Showmax, Africa’s original video streaming services. According to reports, this partnership is an attempt for the organization to promote crypto adoption in Africa further. It offers the first 500 new enrolments a one-month Easter subscription on the SVOD platform.
Showmax is highly popular within the continent, having over 860,000 users. It serves only 13 countries within the continent but has expressed interest in expanding its reach. Africa’s original video streaming services cater mainly to local talent by prioritizing local film industries all over Africa.
To qualify for this offer, users must sign up, complete their KYC verification and make a transaction worth at least $10, or it is equivalent on either Binance P2P or Binance Fiat. Users must then confirm their participation by filling out a form.
Emmanuel Ebanehita, the marketing lead, stated that collaboration with Africa,’ original video streaming services will propel crypto adoption within the continent. He further claimed that Showmax would provide the platform for Africa to experience the unique nature of Web3. As various African countries embrace blockchain technology, crypto finally has the right environment to thrive.
According to their report, the promotion is available to countries listed under Showmax, and Binance Africa’s Twitter will announce the winners.
Collaboration set to redefine crypto adoption in Africa.
According to the General Manager of Showmax Nigeria, Opeoluwa Final, this collaboration will benefit both organizations. He added that the partnership would significantly progress the plans of Africa’s original video streaming services. More people seek to sign up for the award. He further stated that collaborating with Binance Showmax will finally demonstrate its commitment to making premium content more available and accessible.
As the Binance exchange continues to foster more connections, its primary goal of promoting crypto adoption in Africa still needs to be fulfilled. The FTX crash significantly damaged Africa’s crypto ecosystem, but Binance still hopes its attempt will bear fruit. In 2023, Binance held several events, such as the Women in Crypto Event. Binance hosted this event in Uganda’s capital, Kampala, to urge women to join the Web3 community. It also hosted the Arusha meet-up on the 25th of March and attracted more than 200 attendees from various parts of Tanzania.
Through its endeavours, Binance’s exchange proves once more why it is the largest crypto exchange in the world.