A single tweet on X can be more insightful than its author intends it to be. When addressable.io Co-Founder Asaf Nadler framed his commentary on the Web3 ecosystem’s internal tension between reach maximization and revenue capture, he struck a nerve that resonated far beyond the typical crypto discussion.
I’d say the post itself was sharp and insightful, cutting through the typical Web3 jargon to address a real problem facing the industry. But what followed was far more telling than the initial comment. The comments section erupted in a chorus familiar to all: founders and the vocal minority on Crypto Twitter: Global South and African users were explained away as mere “airdrop farmers,” a reductionist label that dismisses innovation and legitimate participation in favor of a convenient stereotype.
This was not just another conversation around tokenomics or user acquisition strategies. It was a reflection held up to something unpalatable about how the so-called “decentralized” Web3 world carries over the prejudices of the old world in its code. I mean, the same technology that was supposed to democratize finance and eliminate gatekeepers was now being used to reify and belittle us!
What had started as a discussion about business models had turned into something much deeper: a glimpse at the assumptions, biases, and blind spots that still decide who gets to be considered a valid participant in the future of finance.
As someone from Nigeria who has thrived in this space, I felt compelled to respond, not just with data, but with my own story of how Web3 became my gateway to a world that traditional finance (TradFi) locked me out of.
For people like me, Web3 wasn’t just an opportunity, it was a lifeline, a passport to a borderless economy. I’ve built a career in this ecosystem — from writing to marketing, and contributing to projects that matter. This isn’t just my story, it’s the story of countless Africans who have turned Web3 into not just a tool for survival but innovation and global participation.
Dismissing the Global South, especially Africa, is a mistake the ecosystem can’t afford.
The numbers don’t lie: the Global South is driving Web3 forward. According to the 2024 Chainalysis Global Crypto Adoption Index, Nigeria ranks #2 globally in crypto adoption, with over 46% of the population owning crypto and $59 billion in transaction volume from July 2023 to June 2024. Kenya follows at #19, with grassroots adoption fueled by necessity. The Consensys 2023 Global Web3 Perception Survey reinforces this, noting that 99% of Nigerians are aware of crypto, and 70% understand its potential uses, higher awareness than in the U.S. or UK. Meanwhile, a 2024 report by Binance Research highlights Africa’s retail-driven market, with 43% of transactions tied to stablecoins like USDT, a shield against inflation and currency devaluation.
Beyond stats, the impact is tangible. In Nigeria, where the naira has lost over 60% of its value since 2020 (per World Bank data), crypto isn’t a gamble, it’s a necessity. The African Development Bank estimates that 38% of Africans lack access to traditional banking, yet mobile penetration exceeds 80% (per GSMA 2023). Web3 bridges that gap. Take BitPesa (now AZA Finance), an African blockchain platform that’s processed millions in cross-border payments, or WiPay, a Caribbean solution cutting remittance costs by 50%. These aren’t outliers, they’re proof that the Global South isn’t just adopting Web3; we’re innovating with it.
Debunking the Airdrop Farmer Stereotype
The “airdrop farmer” label stings because it’s a lazy caricature. Yes, airdrops draw crowds, but who wouldn’t chase free tokens in a tough economy?
The idea that we’re all just freeloaders ignores the evidence. A 2023 KuCoin report found that 60% of African crypto users engage in DeFi, with Nigeria alone logging $30 billion in activity. The UN Conference on Trade and Development (UNCTAD) 2022 report notes that 8.5% of global blockchain developers are now in Africa, up from 5% in 2020. I’ve seen this myself, friends in Lagos and Nairobi building dApps, communities in Accra hosting meetups
My work on airdrops reflects this shift. In my Medium article, I argued that simplifying airdrops can onboard users who stay for utility, not just rewards. Look at Polygon’s airdrop campaigns — their focus on education and usability has boosted retention by 35% in emerging markets (per Messari 2023). We’re not farming tokens; we’re planting seeds for ecosystems that thrive.
Web3 as Freedom
Let me get personal. Growing up in Nigeria, I hit a wall early. Traditional banking systems demanded fees I couldn’t afford for international accounts, and inflation ate my savings. Then Web3 came along. I started with Bitcoin, moved to Ethereum, and soon found myself writing, trading, and building in this space. Crypto didn’t just pay my bills, it let me compete globally, unrestricted by geography or bureaucracy. Today, I’m part of a thriving African Web3 community that’s accomplished remarkable things.
This isn’t unique to me. My cousin in Abuja uses USDT to dodge naira volatility. A friend in Ghana built a remittance app on Stellar. Across Africa, Web3 is rewriting the rules for the 400 million unbanked (per World Bank 2023). It’s not charity, it’s empowerment. When CT calls us “not real users,” they’re missing the real story: we’re the ones making Web3 real.
See Us, Build With Us
To the builders and investors reading this: stop underestimating the Global South. We’re not a side note, we’re the future. Lemme give you a few hints on how to catch up:
Design for Us: Mobile-first, low-data products win here. Think WhatsApp, not Wall Street.
Solve Our Problems: Inflation, remittances, exclusion — these are our realities. Build for them.
Rethink Airdrops: Make them gateways, not giveaways. I’ve written about this — simplicity drives adoption.
Tap Our Talent: Africa’s developers, artists, and entrepreneurs are ready. Partner with us.
Shift the Narrative: Tell your VCs the next big thing might launch in Lagos, not London.
I’ll end where I began — on X, watching a conversation about Web3’s future devolve into tired stereotypes about its most dynamic participants. The irony wasn’t lost on me: here was an ecosystem built on the promise of decentralization, yet some still insisted on drawing the same old lines that traditional finance had drawn around us.
For people like me, Web3 has been more than an opportunity, it’s been liberation. A defiance of every gatekeeper who said we didn’t belong, every system that locked us out, every assumption that innovation only flows in one direction. We’ve proven that when you remove barriers, creativity doesn’t just emerge, it explodes.
The numbers I’ve shared aren’t projections or promises, they’re receipts –” Evidence Choke”. Africa and the Global South aren’t passengers on Web3’s journey; we’re in the driver’s seat, navigating toward a future that traditional finance never imagined possible.
So here’s the choice facing every builder, investor, and thought leader in this space: You can continue operating with outdated assumptions about who your “real users” are, or you can recognize that the future of finance is being written in Lagos, Nairobi, and São Paulo just as much as in London and New York.
The data is clear. The talent is undeniable. The momentum is unstoppable. The only question left is whether you’ll be part of this transformation or you’ll keep tweeting your way into irrelevance while we build the borderless economy you promised but never delivered.
The Global South isn’t waiting for permission anymore. We’re not asking to be included. We’re building our own table, and it’s bigger than yours.
Watch out for PART TWO!!!
When Web3’s Promise Meets Its Prejudice was originally published in Coinmonks on Medium, where people are continuing the conversation by highlighting and responding to this story.