Jambo, an educational cryptocurrency startup in Congo, has raised $7.5 million in funding to boost Web3 adoption in Africa, TechCrunch reports. The pool of investors included Coinbase Ventures, Delphi Ventures, Three Arrows Capital, Polygon Studios, and others.
James Zhang CEO and Co-Founder of Jambo, says the startup wants to onboard "millions of users to web3 in Africa." The project has already partnered with social media companies so that users can earn the project's tokens while watching content on its app.
The reason we can do that is via partnerships with these companies as we tokenize a part of their advertising budget and directly provide to the end-user.
Jambo is reportedly already testing out more than 10 play-to-earn games which are scheduled to be available on the platform in the next couple of months.
Zhang added that Jambo — which onboarded over 12,000 students across 15 countries, including Uganda, Kenya, and South Africa — hopes to help students to explore opportunities in play-to-earn gaming and decentralized finance (DeFi).