When you mention NFTs to someone today, most people think of .jpg photos of apes and other animals that give people access to parties and events just for owning them. However, the technology behind NFTS that allows ownership of a digital good is where the real value lies. There is a wide application for how NFTs can be used, and one company called 3air is reimagining how NFTs can connect Africa to the global economy.
3air is a blockchain and connectivity company working to improve broadband access throughout Africa and introduce decentralized banking services to millions of bankless individuals, is reimagining how NFTs can connect billions of users to the internet. NFT subscription models enable users to own their memberships, giving them control of their data and the ability to buy and sell their membership as needed. Using proven “K3 last mile” technology, 3air aims to provide easily accessible internet service to billions of African users.
Africa’s internet connectivity is sparse and, when available, slow. Only 0.58% of users in Sub-Saharan Africa had broadband access in 2019, which has yet to improve. Existing infrastructure is severely outdated, as 91% of mobile users in Africa only have 2G or 3G connectivity access. In addition, banking is often difficult to come by; 31% of adults worldwide do not have access to proper banking. These adults have limited options for spending on goods and services.
Tackling the challenge using blockchain and NFTs
By using NFTs as a subscription model, 3air can provide internet and banking services to decentralized finance applications that enable connectivity to the global economy through cryptocurrency.
NFT subscription models also have additional benefits. Tokens that provide services can be resold when no longer required, preventing customers from being locked into the blockchain. This allows users to avoid centralization in the form of prohibitive contracts, as they can also resell if they no longer need 3air’s service. These tokens are community tokens, granting users voting rights on where the service spends its money to expand in the future.
3air plans to use subscription-based NFTs to provide internet and banking services in Africa, assisting in the continent’s economic growth.
The company intends to become 100% decentralized in the future, but until then, it aims to grow itself as a community until as many regions as possible have high-speed internet connectivity. It also intends to provide microloans, both collateralized and undercollateralized on its blockchain platform that functions on the SKALE network.
However, 3air’s NFTs aren’t the only part of the model. The company intends to deploy real-life centers on the ground using K3 Last Mile’s solution equipment and use its NFTs to provide broadband services through these centers. This will onboard users who only hold cash into Web3 and crypto, enabling peer-to-peer transactions and opportunities that those without banking access do not have.
On the ground, 3air will deploy services that help onboard users into the space, and provide opportunities in-person for users to exchange cash for cryptocurrency to get online.
3air’s ambitious model for Africa contains a multitude of goals. The company aims to provide internet to millions of users, connected by and with NFTs, onboard new users into the crypto sphere, and allow those who are bankless and internetless to use crypto to connect to the global economy, such as trade, business, education, healthcare, and many others.
The decentralized nature of NFTs and crypto will allow these users to experiment with what works best for them and prevent them from being held down by predatory contracts due to the ability to resell their memberships in a marketplace. 3air’s token launches soon and can be purchased on Synapse Network.
