As the African region continues to adopt crypto and blockchain, more venture funding flowed into the continent in 2022’s first quarter compared to the first quarter of 2021, according to a new report by blockchain-investment firm Crypto Valley Venture Capital (CV VC) and Standard Bank.
The report, titled “The African Blockchain Report 2021,” shows that blockchain startups were able to raise $91 million within 2022's first quarter. Compared to the first quarter of 2021, this year showed a 1,668% year-on-year (YoY) increase in cash inflow compared to 2021's YoY of 149% which is an increase of more than 11 times according to CV VC.