Nigeria’s Stakefair Launches, Raises USD 670 K Pre-Seed Funding

Stakefair, a Nigerian Decentralized Finance (DeFi) company has launched and also raised USD 670 K in Pre-Seed funding. Investors involved in the round include; Adaverse, Nestcoin, Kepple Africa Ventures, Canza Finance, Voltron Capital, Echo VC Chain, Timi Aboyeji, Tomiwa Olaosebikan, Peter Kisadha, Saturn Blockchain Ventures, Thrive Africa Syndicate, Nehikhare Igbinijesu, Oluchi Enebeli, and Clement Hugbo.

Stakefair allows users to predict the outcome of sports matches and other real-world events to earn money by staking digital currency.  When a user stakes a unit of a coin on a set of games, Stakefair will invest it in DeFi lending pools so that it can yield interest. If the user’s stake wins, they get their capital and some return on investment (ROI). If not, they get only their original staked amount.