Adaverse, a Cardano ecosystem accelerator, has invested in Cassava Network, a blockchain infrastructure platform for African content creators, as part of a seed funding round. The round included over 40 investors such as Dragonfly, CMT Digital, and YGG, with funds allocated to develop next-phase features including a multi-chain wallet, African-focused NFT marketplace, and user-incentive rewards system.
Cassava Network’s PR Director emphasized the platform’s goal to leverage Web3 to drive crypto adoption across Africa. The infrastructure uses its native CSV token to transform web applications into crypto-enabled tools, offering token rewards, digital identity systems, and a wallet tailored for content creators.
Adaverse was established in September 2021 as a joint venture between EMURGO Africa and Everest Ventures to support African startups building Web3 decentralized applications on Cardano’s blockchain. The accelerator aims to foster innovation in DeFi, NFTs, gaming, and metaverse tools.
Cassava’s model enables creators and users to earn through play-to-earn, create-to-earn, and engage-to-earn mechanisms. CSV token holders gain access to lending, staking, and governance rights. The platform targets Africa’s young, entrepreneurial population, positioning itself as a gateway to global markets.
EMURGO Africa’s Shogo Ishida highlighted Africa’s potential to lead Web3 growth, while Adaverse’s Vincent Li praised Cassava’s vision to address socio-economic challenges through blockchain. The African blockchain market is projected to grow from $1.1 billion in 2020 to $134.9 billion by 2028.
