Developers are using .xyz domains to help foster greater accessibility and increased participation in the web3 space. Community platform TheHug.xyz is designed to embrace and empower all web3 creators, including marginalized groups like women, non-native English speakers, BIPOC, people with disabilities, neurodivergent people, and LBGTQ+ folks, in hopes of creating “the inclusiverse.” NFT project TheBlackArts.xyz is aimed at celebrating and supporting Black creativity in the web3 space. In this week’s #WebsiteWednesday, we’ll introduce you to a web3 company that aims to empower more Africans to enter the world of crypto: Mara.xyz.
Mara.xyz is the online home of Mara, a Kenya-based company that is developing a suite of crypto products designed to help increase the number of Africans who can participate in the crypto economy. The company aims to realize Africa’s economic potential and serve as the continent’s portal to crypto. While many African countries still prohibit local financial institutions from doing business with crypto companies, there are now a growing number of African governments looking to integrate cryptocurrency into their economies. On May 11, 2022, Mara.xyz announced the raise of $23 million from multiple investors, including crypto and blockchain-focused Coinbase Ventures.1
The web3 company is building a suite of products that target various crypto-based needs for the African audience. Mara.xyz’s initial product is a consumer crypto-brokerage app that helps users to buy, send, sell, and withdraw fiat and crypto assets. The suite of products will also include a crypto wallet and a layer-one blockchain network. The company anticipates the network will become the default network for developers to build Africa-focused crypto and blockchain products. Mara.xyz will launch in Kenya and Nigeria before expanding to other African countries.
Mara.xyz co-founder and CEO Chi Nnadi previously headed Sustainability International, a nonprofit organization that managed community-led solutions for solving UN Sustainable Development Goals. While running Sustainability International, Chi became aware of the societal and financial challenges affecting Africans and began conceptualizing Mara.xyz. The company has already developed a partnership with the Central African Republic (CAR) to become its official crypto partner and an advisor to President Faustin-Archange Touadera on crypto strategy and planning. Mara.xyz has plans to engage more African governments to see the benefits of blockchain.
On June 7, 2022 Mara.xyz appointed former Apple executive Susan Younis as its Chief Marketing Officer (CMO). In her role, Susan will be in charge of brand awareness and will help lead Mara towards a goal of becoming a digital finance and crypto market leader across Africa.2
Mara recently upgraded their domain from Coinmara.com to the more memorable and universally friendly Mara.xyz. We are proud to have innovators like Chi defining the .xyz community, and look forward to the release of Mara.xyz’s services. You can learn more by joining the Discord, following the company on Twitter, Facebook, Instagram, and LinkedIn, and by visiting Mara.xyz.
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