Nigeria has emerged as Africa’s undisputed leader in Web3 development, contributing 4% of all new Web3 developers globally more than any other country on the continent according to the latest Nigeria Web3 Landscape report by venture capital firm Hashed Emergent.

This rise is powered by a dynamic and youthful tech force: 86% of Nigeria’s Web3 developers are under 27, and over half entered the space within the past year. Fueled by community-driven programmes such as Web3bridge, SuperteamNG, and developer tracks from blockchain giants like Solana and Starknet, these young innovators are pushing boundaries in finance, governance, and cross-border technology.

With a booming developer base of 1.1 million up 28% in just a year Nigeria’s blockchain ecosystem is thriving. Freelancing dominates the space, with 41% of Web3 developers working independently. Payment is primarily in cryptocurrencies, with stablecoins (45%) and major tokens like ETH, BTC, and SOL (31%) preferred.

Though full-time jobs remain scarce (only 15% employed full-time), international gigs, bounty programmes, and startup funding are helping bridge the income gap. Nigeria now ranks second globally in crypto adoption, with a staggering $59 billion in transactions in 2024. The use of blockchain has evolved beyond retail trading to include real-world applications like cross-border payments, inflation-proof savings, and even public sector projects.

Funding for Nigerian Web3 startups hit $130 million to date, with $20 million raised in 2024 alone. Infrastructure projects led the way with $11 million, while finance ventures followed with $7 million triple the previous year’s figure. However, investment in entertainment and gaming plunged from $17 million in 2023 to just $2 million in 2024, despite ongoing developer enthusiasm in NFT gaming and SocialFi.

Tak Lee, CEO of Hashed Emergent, sees Nigeria as the vanguard of Africa’s blockchain future. “With its entrepreneurial resilience and deep technical talent, Nigeria is poised to lead the continent’s charge into decentralised innovation,” he said.

As blockchain moves from hype to real-world use, Nigeria’s youth-driven tech movement is not just participating it’s setting the pace for the rest of the continent, and perhaps, the world.