Innovations in Web 3 by Black-Led Communities

^{Nettyworth co-founders Alcides Aguasvivas and July Grullon at the 2023 Consensus conference in Austin, Texas (Image courtesy of Nettyworth).}

At the heart of Web 3 and the burgeoning “ownership economy” is a steadfast belief in the power of community. The essence of DAOs, blockchains, and tokens is fundamentally rooted in the contributions of their participants, who are pivotal in driving value. Reflecting on the representation of Black Americans in Web 3, their significant presence as cryptocurrency owners is hardly surprising. According to a survey from April 2022, about 25% of Black Americans earning more than $50,000 annually have invested in cryptocurrency, in contrast to only 15% of white Americans with a comparable income. The adoption of cryptocurrency is even higher among younger demographics, with 38% of Black individuals under the age of 40 owning cryptocurrency, versus 29% of their white counterparts in the same age group.

Historically, the urgency of building community has been a driving force for Black people overcoming centuries of enslavement, segregation, and systemic inequality. From the sanctity of Black churches to the solidarity of the Underground Railroad and the activism of the Combahee River Collective, Black people have united in celebration, strategy, and mutual support through adversity.

As an Afro-Latino founder within the Web 3 space, I am continually inspired by Black leaders globally, who recognize and seize the opportunities presented by Web 3. These opportunities not only aim to enhance economic outcomes but also to mitigate global warming and educate future generations.

This Black History Month, Givepact is honored to highlight several Black-led organizations that are at the forefront of innovation within the Web 3 ecosystem.

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NettyWorth

Mission: We're dedicated to advancing the first social DeFi app, enabling users to chat, manage, and borrow against their assets. By merging DeFi with social interaction, we aim to democratize liquidity access for millions in a user-friendly manner.

Why Web 3? We see blockchain technology as a tool that connects transactions globally, much like how social networks bring people together worldwide. By combining these aspects, we're working on NettyWorth a new app that allows users to transact in creative and innovative ways.

What are you most proud that your organization has achieved?

As Latino founders, we know how hard it is when it comes to raising capital. For us, being backed by companies like BlockChain Founders Fund, Acacia Digital and Republic has been a great achievement for us.

What’s your call-to-action for 2024 and beyond? Rethink what's normal.

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BLKWeb3 (BLKW3B)

Mission: BLKWeb3 is a multi-chain global Black Web 3 and frontier technology ecosystem focused on equity. BLKW3B works to address equity through a number of powerful industry initiatives. By focusing on equity, BLKW3B calls for an entirely new approach to engaging the global majority in tech — as contributors and builders instead of just users and consumers. 

Why Web 3? Web 3 is the future and will ultimately permeate every aspect of most people’s daily lives, similar to the internet. Currently, Web 3 is not as openly accessible as it should be to most Black engineers, builders, founders and creatives. If the future includes all global citizens, then the contributors and builders should reflect this too. We work to solve for equitable access of Web 3 resources, opportunities, education and capital and partner with those who are mission-aligned. 

What are you most proud that your organization has achieved: We’re proud of every builder, founder, member who leaned into the community for support and felt sustained through their own challenges and/or recent global market changes, to stay and build in Web 3.

What’s your CTA for 2024 and beyond? Collaboration and amplification. We’re better together. We call on those who align with our work to reach out and partner with us.

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Black@

Mission: We created Black@ to be a unique Web 3 space where Black folks can come together and share ideas, opportunities, and support one another no matter where we are in the world. Black@ is a digital 3rd space for Black founders, funders, creators, and community builders.

To accomplish our mission, we uphold the following values with everything we do:

Preserve and advance Blackness in all ways and in all spaces. When the executive team is making decisions, you can be sure that this is always top of mind. Authenticity. Blackness can look like anything. It can act like anything, it can be anything. Blackness is not one-size-fits-all; it's highly personal. We want to celebrate diversity and make sure that our members feel comfortable in the community. Honesty and integrity. Every decision we make aims to support transparency and uphold our integrity. Forward-thinking and Innovation. Boldness. We want everyone to be themselves and to be loud and proud. As a community, we support big ideas.

If you’re a Black founder in Web 3, we’d love to meet you. Reach out at hello@givepact.io or on Twitter at @give_pact. 

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