HouseAfrica, a Nigeria-based blockchain-powered digital land registry platform, has received undisclosed investment from Adaverse, and plans to integrate the Cardano blockchain.

The funding will enable the company to grow into other territories in the continent, according to a statement on April 24. HouseAfrica aims to give visibility to land ownership and transaction through its blockchain-based system. By Q4 2023, the startup plans to adopt the Cardano blockchain in its asset tokenization drive.

The company’s product Sytemap adds a layer of transparency in land transactions, which is a factor plaguing land ownership in most African countries. Sytemap provides users with land search functions including a digital layout of the land, location, and ownership status of the plots for sale.

“Many real estate markets in Africa are riddled with middleman complexities, extortion, duplicate land titles, lack of trust, ownership verification, and privacy,” CEO and Co-Founder Nnamdi Uba says. “We are leveraging Web3 and blockchain to provide immutability of data and eliminate duplicity of ownership. Through our Sytemap platform, we’re able to record landowners’ data and proof of land allocation as NFTs, each with a unique identifier, making it impossible to tamper with,” he adds.

Vincent Li, founding partner of Adaverse, comments: “Land ownership is a key factor in a country’s economic growth, providing a foundation for investment and development. HouseAfrica is uniquely positioned to address the challenges of land ownership, which will have a profound impact on the lives of millions of Africans, and we are excited to be part of this journey.”

Adaverse is a Cardano-focused accelerator that was established through a collaboration between EMURGO Africa and Everest Ventures Group, a leading blockchain and digital asset venture studio. EMURGO Africa is a subsidiary of EMURGO, the official commercial arm of the Cardano protocol.

“We look forward to partnering with other Cardano innovators and dApps and to contributing to the growth and development of the Cardano blockchain as we strive to build a thriving Web3 economy in Africa,” Uba notes.

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