The Nigerian Web3 Community Needs To Do Better

I finally have time to write about this, something which has been on my mind for a while. I just finished a plate of Golden Morn cereal, and I think I have enough sugar to help me construct my thoughts carefully. I am generally non-confrontational, and I like to mind my business. This might be tagged or termed a hot take article, which is fine by me. Some people might feel hurt by it; that is also fine by me. It is all from a place of love; if not, I would rather be using this time to play Control. As it stands, I can always speak freely anywhere and in front of anyone.

Lately, I see things happen in the Nigerian web3 ecosystem, and it makes me feel jaded. I have not lived and interacted that much with other web3 communities in other African countries, so I won't say it is an African problem. I do know a good number of African folks in web3 in other countries, though, with Kenya being my favourite. So yeah, I would direct this to be a Nigerian web3 problem and one where serious conversations and actions have to be taken, for the growth of the ecosystem.

Optimising for Wrong Incentive

This article is not for folks who are in the business of being degens or airdrop hunters, no disrespect to them. It is for the people who are or say they are builders in the ecosystem. I strongly believe most people in the ecosystem optimise for the wrong incentives. As someone who likes to hang around DAO forums, when I see posts from Nigerians, it's mostly folks' solicitation for grants. I see such posts, and I usually just shake my head. You would not see any prior message from such an account, only to see it pop up because it is looking for some grants.

You would see the post and see the name of an upcoming event they are hosting, with inflated numbers about attendees. You see this thing about inflated numbers, I dislike the act. Why can't we see 200 people come for an event and state that 200 came? I get you want your event to appear like a big shot, but maybe you don't get that you are actually lying by doing that.

Left to me, a lot of web3 events that happen in Nigeria wouldn't be happening. I think we have too many events happening, with not a sizable amount of impact to show for it. Yes, I am pro in real-life events, but it doesn't make sense to have the same type of events, with the same type of speakers and almost the same type of audience. Left to me, only one community-focused web3 conference event and then meetup events should be happening. Any other conference should be niche-specific, something like a DeFi Conference, Security Conference, ReFi, DeSci, Governance, etc.

Thinking Too Small

Sadly, a mentality I have noticed in a good number of people I have interacted with is that they think too small. This might be a cliché saying, but it is quite true. Most when they think, plan and scheme, they always have them on the receiving end. They approach things in the ecosystem from how they can largely gain from it personally, without having to give anything back. Now, if you were a degen, which is just another word for a gambler, this is perfectly fine. But even gamblers need to risk something for any slim chance of success. So you see where I am coming from?

Another behaviour is when it comes to hackathons. For someone starting out in their career and looking for a way to ship fast and learn, hackathons can be good for them. Also, for people looking to ship an MVP and get feedback. After all, Uniswap started as a hackathon, and even Azza. But the problem is, the majority of folks are fond of applying to hackathons as a way to earn quick bucks. They repackage old projects to appear new, win these hackathons with the project and after it, nothing is heard about the project. That shouldn't be so; we should be thinking in line with how to make such projects profitable and scalable.

We shouldn't be relying on grants as a long-term solution to problems. In all honesty, the amount of money that flows in as grants to potential products and individuals isn't even that large enough for all these scheming for real. Why do we have to always be seeking handouts? It is a behaviour I find tiring and embarrassing. The global web3 ecosystem does not owe us anything; we have to show more value than just our numbers.

Support and Push Local Products for Global Use

Yes, the web3 culture is open source, and everyone is welcome to participate. But the reality is, just as in any sector of life, soft power exists. The best way to be respected and have your voice heard is if you are very valuable and thus have the leverage. We need to look at how we can build products that everyone in the ecosystem can find useful. We should build for the global market and support people doing that too. We already have some founders building solid products like Asset Chain, Hyperbridge, BlockRadar, Blockops, cNGN, Paycrest, Onboard, Azza, Cryptonia, Liquid, etc.

When these companies scale up, they will be able to attract more liquidity to them, which in turn flows into the ecosystem locally. More founders would be able to get access to folks locally who would be open to writing them a check to back their products. Event organisers will even be able to get startups that will sponsor their events. It is honestly a win-win situation for all those involved if we can just look past the short-term gains and optimise better.

Even if you are not a founder material, you can aim to work with global web3 companies. I literally know Nigerians at Ethereum Foundation, Optimism, Coinbase, Monad, Nillion, and StableLabs, etc. That should be the goal; we should be looking at how to compete globally with our products and talents. I once asked someone if they applied to roles, and the person said no, and it wasn't a case of this person is great and well known, so offers come to them. No, this person is pretty much in the formative part of his career as a junior dev in web3, and he doesn't even try to put in the effort to apply for jobs. Please, we need to do better.

Conclusion

Someone might read this and say, "It is easy to talk na", if that is your takeaway, that is fine. Another person might say. "When person get money, advice go full im mouth", which translates to "A rich person always has advice to give. If that is your takeaway, that is also fine, but know that I am actually broke and I even have some debt (a sizable amount), so I am not saying all this from a place of comfort.

I am saying all this because it is a recurring pattern, which I don't think is sustainable. Do you want to start a family living off small grants? As we approach a new year, let's have a rethink of how we do things. Let us all explore avenues to collaborate with each other. It is very important to stop clout chasing. You may think nobody is seeing through the fugazzi, but people are, and in the end, you are spoiling your reputation long term. Do not take credit for another person's work, and do not fake numbers and achievements.

Thanks for listening to me rant. Hope to write to you soon.