Rise of Fearless launches USD 700,000 investment round to advance Web3 mobile gaming in Africa

UAE company “Rise of Fearless” receives $700,000 in funding to expand its web 3-based games

Rise of Fearless, the UAE platform specialized in game development, announced the launch of a $700,000 funding round, with the aim of developing its game on mobile phones and moving to an ecosystem based on blockchain and Web 3 technologies.

The company aims to invest these funds in improving the user experience, enabling players to own digital assets in the game, in addition to creating new financial opportunities for users across Africa through decentralized technologies.

The game is characterized by its focus on African cultural heritage, as it seeks to promote knowledge transfer, create jobs, and make a large-scale positive social impact on the continent.

The announcement comes at a time when the African gaming market is witnessing remarkable growth, with more than 680 million mobile phone users, with expectations that the value of the sector will reach $3.72 billion by 2029.

2021 data indicate that more than 80 million adults in sub-Saharan Africa are still out of the banking system, relying on cash transactions, especially in the agricultural sector. Hence the importance of Web Games 3, which provide alternative financial paths that do not depend on traditional banks, making them an ideal solution for regions with limited access to financial services and job opportunities.

Rise of Fearless seeks to leverage Web 3 technologies to give players full ownership of their digital assets in the game, provide opportunities to earn rewards and participate in a secure digital economy, which contributes to the promotion of financial empowerment of users in areas not connected to traditional banking systems.