[January 22, 2024] Core Chain, the layer one blockchain that brings decentralized applications to Bitcoin, announced the launch of the Core Africa Innovation Fund today. This groundbreaking $5 million initiative is dedicated to providing resources and networks to support local Web3 builders and projects across the African continent.

“Africa is quickly becoming a major hub for crypto and is filled with potential, we are excited to support and help develop that potential with the launch of The Core Africa Innovation Fund,” said Rich Rines, Initial Contributor at Core Chain, “The fund goes beyond just monetary support, we are aiming to truly nurture the next generation of builders and create a sustainable, interconnected blockchain future within the continent.”

According to a 2023 Chainalysis Report, several African nations are rapidly emerging as key players in the global crypto landscape. The continent is home to the world’s youngest, internet-savvy population, driving innovative blockchain solutions to local challenges with a potential global impact.

The Core Africa Innovation Fund adopts a long-term, user-friendly, and sustainable approach. The fund will support local projects that strongly emphasize delivering tangible value to the local community through Grants, Technical Resources, Builder Programs, Partnerships with accelerators and institutions, connections to VCs, and potential investment. 

The initiative adds to Core Chain’s series of strategic ecosystem expansion efforts, including the recent $200M Ecosystem Fund launched in collaboration with Bitget and MEXC, underlining its commitment to fostering a robust global blockchain environment.

Core Chain is actively seeking to support the best projects within the African Web3 space. Web3 projects in Africa looking to build on Core are encouraged to apply here, and a contributor will be in touch.

About Core Chain

Core Chain is leading the way as an innovative Layer 1, uniquely positioned at the intersection of Bitcoin’s principles and Ethereum’s composability. This fusion makes Core Chain a first-of-its-kind “Bitcoin-aligned” chain, offering a platform that is not just technically advanced but deeply rooted in the early visions of Web3 from 2008. With a commitment to decentralization, scalability, and security, Core Chain is making Web3 mass adoption a reality.

By Alex Wheeler

Alex is a lead writer at AltcoinsAnalysis, bringing the audience all leading developments in the blockchain industry and the latest trends in the cryptocurrency market.