Africa has been a hotspot for innovation and technological advancement in recent years especially as there has been an increase in internet use and mobile phone usage.

Reports show that Africa had about 570 million internet users in 2022, which is more than double the number it had in 2015.

However, some challenges beguile the African continent. These challenges include limited funding. Lack of basic amenities and infrastructure, inflation, poverty, etc.

Africans happen to be resilient people, and one way they determined to solve the challenges they had is by leveraging the power of blockchain and NFTs via trading on NFT marketplaces.

An NFT marketplace is a platform that allows users to buy, sell, and trade non-fungible tokens (NFTs). NFTs represent unique assets in the digital realm that are stored on the blockchain. They could be anything ranging from art to virtual estate, and even music.

A report by NonFungible.com shows that the global NFT market has grown by more than 800% since 2021, and has a capitalization of more than $2 billion.

Unlike traditional cryptocurrencies which has a set value, NFTs of different collections have different value depending on the item they represent as well as their rarity.

Across the different countries in Africa, new artists are popping up and getting new means to better their standard of living by listing their collections in the diverse marketplaces available.

Here are some of the NFT marketplaces that are providing exposure for Africans and giving them the exposure they need to showcase their work as well as get income for themselves.

Afropolitan

Afropolitan is an NFT marketplace that supports Nigerian Artists by giving them a platform to express their art and showcase their work.

This platform aims to build a network to give Africans a voice that would give them awareness on a global level.

Pepperlyl

Pepperlyl is acclaimed to be the first African company to establish an NFT marketplace and Metaverse.

It was established in 2022 to change the narrative of trading NFT in Africa. With Pepperlyl’s marketplace and Metaverse, users can now interact with virtual worlds built with NFTs. It’s unlike any that has ever been seen in Africa.

It thus provides a means for users to get virtual land, whilst using NFTs as a virtual currency. This pioneer company is providing services like never seen before in the continent.

NFTfi

This is a marketplace for collateralized loans. Through this platform, you can list your NFTs and get access to loans.

With your NFTs, you can borrow wETH, DAI, or USDC. You are safe from auto-liquidation and borrower fees too.

All you need do is list your NFT as collateral, and then you get loans from that. Once you pay back, you get your NFTs back.

Ayoken

Ayoken is a digital collectible marketplace where creators get connected to an audience that is interested in their art.

It was founded by Joshua King in 2021 and features digital assets from musicians, sports brands, and influencers, etc.

Its goal is to enable creatives to tap into the global audience available, and not just rely on fanbase.

A global audience can help them create more revenue streams and achieve financial freedom.

Hashgreed

Hashgeed is Africa’s first NFT marketplace for commerce and asset tokenization. It was built on Nigeria’s first blockchain- the Kross blockchain.

Whether you are a creator, business owner, crypto native, gamer, freelancer, etc; Hashgreed provides a platform for you to showcase your craft.

Conclusion

The opportunities that NFT marketplaces bring are immense. If you are creative and need a voice for your art, then you should take hold of what these marketplaces have to offer.

With this, you have a means to not only showcase your art but also generate more income for yourself, especially now that inflation is ravaging the continent.