Afen Blockchain Group To Launch Nigerian Government-Backed NFT Marketplace

Africa’s leading blockchain hub has secured crucial government backing and is now set to launch its NFT marketplace.

Introduction

Leading NFT platform for African arts, Afen Blockchain, is set to launch its NFT marketplace. Afen’s roots sprung up from Nigeria. Despite a not-so-friendly disposition of the Nigerian Government towards cryptocurrencies, Afen has secured endorsements from some government agencies. 

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These endorsements, plus others in view, would give Afen exclusive rights to digitize legacy African artworks. It is also a plus for Afen that it is getting a go-ahead from key regulatory institutions in an environment of relatively regulatory uncertainty. 

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Afen NFT Marketplace

On June 15, 2021, Afen launched the beta version of its NFT marketplace. The beta launch was rolled out in two phases: first to select members of the Afen community, then to the general public. After a successful beta launch, Afen is now primed to proceed with the product launch of the Afen Art Marketplace in July 2021 as scheduled in its roadmap

What Value Does Afen Hope To Bring To The NFT-Space?

A core part of Afen’s vision is to be Africa’s leading NFT platform, bringing blockchain solutions to African arts, real estate, and blockchain education. African artists generally suffer from issues of piracy and difficulties in reaching their target market. 

On the other hand, the real estate industry is fraught with challenges arising from the activities of middlemen, multiple documentations and ownership rights. Integration of blockchain into education is also at a low ebb.

Afen, as detailed in its whitepaper, will proffer solutions to these issues using an NFT-based approach. 

About Afen

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Afen is an NFT ecosystem on the Binance Smart Chain. The platform is a Nigerian-based startup and is the first government-backed NFT initiative from Africa. 

Afen seeks to revolutionise Africa’s art, real estate and education sectors using blockchain and the utility of Non-fungible tokens (NFTs). The platform recently took part in Binance Africa Hackathon and made it to the Judges’ Table

Source : bsc.news

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