Africa has the youngest population in the world, with about 200 million of its population aged between 15 and 24. One would expect that we would be early partakers of the Metaverse, GameFi, Play-to-Earn, and all this Sci-Fi stuff happening in our world today.
However, our inbuilt social problems are set to slow down our adaption to this internet revolution. Social issues like poverty, lack of constant electricity, Poor education, very little exposure, hunger, and so on create a gap between Africa and technological advancement.
Internet penetration is relatively slow on the continent, as it is pricey in these parts of the world. Adapting to the processes of the metaverse requires gadgets, which the average African cannot afford. 36% of the continent’s population live in extreme poverty. That’s why many don’t have smartphones or access to the internet. The few educated people battle with high unemployment rates. Also, high inflation rates and the weak currency cause many Africans to spend most of their earnings on food and shelter.
Looking on the bright side, Metaverse Magna is trying to bridge the technological gap between Africa and the Western World. Metaverse Magna is a product of Nestcoin, “a crypto-native Venture Collective aimed at unlocking the wealth-building potential of crypto, with a mission to democratize economic opportunities across Africa and other frontier economies.”
In recognition of Africa’s rapid progression towards becoming the largest workforce globally by 2035, the organization aims to advance the lower economic classes towards achieving financial security and developing economies across the continent via crypto and crypto gaming.
To enter into the play-to-earn gaming world, one must have a crypto wallet, fund the wallet and purchase gaming assets. These assets unlock access to games like Axie Infinity and Splinterlands, giving players cryptocurrency rewards they can exchange for real money as they play.
Considering Africa’s economic dynamics, the average African cannot afford to purchase these gaming assets, which sometimes cost as high as $1,200. That’s over 100% higher than Nigeria’s Minimum Wage.
Metaverse Magna wants to break down the gaming barriers in Africa by providing individuals with an opportunity to play, earn and acquire wealth without purchasing any gaming assets. Via its scholarship program, it bears the investment cost by acquiring the assets and lending them to players while getting a tiny percentage of their earnings.
It also provides further support through its virtual training services, a community of players worldwide, and a model that guarantees that scholars retain the majority of their earnings.
In a recent interview, Onyinye Umeaka, GM of MVM, said: “The crypto play-to-earn gaming revolution has been enriching lives in the Philippines and other countries across Asia, and we are excited about what it’s already doing in Africa. As further proof of our commitment to the cause, we’re also developing a free and easy-to-use guild management platform to give anyone else interested in building a similar gaming guild on the continent the tools and community they need to do it.”
To apply, visit www.mvm.gg
Photo Credit- mvm website, coin market