Cryptocurrencies have influenced people all over the world. While it might look like the biggest influence they had over people in Asia or the United States, the contrary is true. Cryptocurrencies have spread into every corner of the world, while establishing a pretty strong presence in Africa as well.
AFEN Blockchain is the new exciting cryptocurrency project from Africa that aims to help the continent. AFEN wants to become a leading hub for African Blockchain-related collaborations focusing on three fields, namely art, real estate and education. This should be done through Binance Smart Chain and its smart contract.
Thus, overall, the project should be able to not only help people in Africa with property rights and financial inclusion, but also with spreading of the crypto adoption and bringing it to the people that need it the most. Let’s take a closer look at how they want to achieve it with each of the three categories mentioned previously.
So far, the project has been endorsed in Africa by both, Nigerian Tourism Development Corporation as well as Plateau State Information and Communication Technology Development Agency, by the Plateau state government in Nigeria.
The team behind this project is full of young enthusiastic people. Nevertheless, they do not lack the experience or expertise, since many of them have previously worked at interesting positions for very lucrative companies. The CEO of AFEN Blockchain, Deborah Ojengbede, for instance has experience at positions such as Business Development, Project Management, or Strategy & Innovation. Keith Mali Chung, Chairman Advisory Board of AFEN has experience in developing blockchain products and services, while Ibidoyin Aina, legal advisor, is a member of Chartered Institute of Arbitrators in the United Kingdom.
When it comes to tokenomics, there seem to be some discrepancies when it comes to the total supply. While different cointracking websites such as CoinMarketCap state the total supply at 850,000,000 AFEN tokens, the official website shows the total supply to be 800,000,000 AFEN.
Yet, during the launch of the token, the buy-in demand for the token was extremely huge. On 20th April of 2021, when the token was launched on Julswap, it sold out in less than five minutes.
AFEN will also offer the possibility of transactions, obviously, which could then bring some money back to the buyers. The cashback on transactions with AFEN is expected to be somewhere between 1–2%, and the users should be able to use it at the AFEN Marketplace. Moreover, there will be an option of paying with the token for the educational course.
AFEN is also thinking about allowing educators to upload content to their platform. In exchange for this service, the educators would be able to earn AFEN, based on every completion their course gets, thus incentivising content creators to bring the best quality courses to the platform.
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