Andreessen Horowitz and Google-parent Alphabet bet big on the future of Web3 and social gaming in Africa. Could the continent become the premier hub for the gaming industry?
Web3 and social games publisher Carry1st has raised $20 million in Series A funding to further expand product development in Africa — a continent that could become the premier hub for the gaming industry over the next decade.highly active in the blockchain space
, with additional participation from Avenir and Google-parent Alphabet. Carry1st’s existing backers, including Riot Games, Konvoy Ventures, Raine Ventures and TTV Capital, also participated in the investment round. The cash injection will be used by Carry1st to expand its content portfolio, grow its in-house development team and spearhead a new growth strategy to attract tens of millions of new users. A key pillar of its growth strategy is developing infrastructure to support play-to-earn gaming, which allows users to monetize their gaming experience.announced
in October 2021 by CEO Sundar Pichai. At the time, Pichai identified Africa as a major growth driver for the digital economy with an estimated 300 million people expected to come online over the next five years. If existing trends are any indication, many of those new users will be gamers. As a leading publisher of social games in Africa, Carry1st appears to be in a unique position to capitalize on this potential. In addition to providing a full-stack publishing platform, the company develops games with embedded payments solutions and online marketplaces to support monetization.
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