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Business

10 Ventures To Showcase At The Upcoming Africa Money And DeFi Summit in Ghana

The Africa Money and DeFi Summit, the leading African fintech, decentralized finance, mobile money, and the crypto event brought by the curators of the Africa Tech Summit series will soon be hosted in Accra, Ghana.

Over 200 submissions from innovators were handed in requesting to showcase leading ventures in fintech, crypto, and Web3 from across the continent while connecting them with leading investors, corporates, and business opportunities.

Before announcing the 10 successful ventures, Andrew Fassnidge, founder of Africa Money & DeFi Summit said, “We are excited with the response for our latest edition of Pitch Live and are really looking forward to showcasing these new Web3 and fintech ventures. Following this year’s success stories from the Africa Tech Summit Nairobi edition, where a number of Pitch Live ventures closed round after pitching, our aim is to continue to drive investment and connect ventures, investors, and partners.”

In all the applications that were received from across the continent, the following 10 ventures were selected to pitch live at the event.

1. Kotani Pay which provides a technology stack that connects Blockchain protocols to local payment channels enabling crypto-enabled apps to onboard mainstream users in Africa.

2. The Realest Token which aims to ensure equality of opportunity in the world of investment, the Realest Club innovates by combining real estate and NFTs, to create pioneering NFTs.

3. KORIX, a DEFI app built to allow Africans to purchase the KRX token with CFA fiat money. Enabling them to stake it for access to NFT badges that will unlock real-life advantages and promotions on selected partners’ products and services.

4. Tokpay Finance, a DeFi Neobank for microfinance and social protection programs in sub-Saharan Africa.

5. Revio, an enterprise helping businesses collect more revenue through better customer interactions and building an all-in-one platform for recurring payments and collections infrastructure in emerging markets, starting with Africa.

6. Zanifu, a platform that enables MSME retailers in Sub-Saharan Africa to access credit to purchase inventory.

7. Crunch Network, the first tokenized Afro-global decentralized lending platform. Its mission is to provide capital protection and yield enhancement products to retail investors.

8. Bitpowr, an enterprise that provides a modular ecosystem of web3 and blockchain infrastructure to help businesses build blockchain-powered solutions. They are building modern critical infrastructure to help build the next financial services on the blockchain.

9. Mazzuma, a mobile money payment system that utilizes a distributed secure infrastructure and cryptocurrency to enable seamless payments.

10. Jamborow, a SaaS platform digitizing KYC and providing access to financial services to the unbanked and underbanked population across Africa.

The selected start-ups will be showcased to investors and enjoy full access to the Summit and take part in the wide variety of workshops, discussions, and networking sessions taking place. 

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Technology

Technext to host one of the biggest blockchain gatherings in Africa

Tech media organization, Technext, has announced Coinference 2.0. This will be the second edition of the event and it will be themed “Blockchain and DeFi – Beyond the Hype.” 

The event will provide a visible platform for key players in the African blockchain tech ecosystem, to discuss the possibilities of Blockchain, Crypto, Web3, and the Metaverse for Africa.

In addition, participants will be able to leverage opportunities in the ecosystem for personal growth and wealth creation.

The event is scheduled to take place at Lagos’ Landmark Events Center on Monday, October 3, 2022, and is anticipated to be one of the biggest blockchain gatherings that will attract at least 2,000 attendees in person and at least 3,000 online.

The Content Chief at Technext, David Afolayan, emphasized the importance of having such conversations because Blockchain holds a lot of promise especially for developing economies.

He said, “As a tech-driven media house that aims at providing people-oriented content and that has the mission to contribute to the growth of the African space, our purpose is to lead a timely conversation that will enable regulators, innovators and enthusiasts to find a common ground for a geometric growth in the blockchain space.”

The event promises a line-up of influential speakers that will share insightful thoughts that will inspire the attendees to take advantage of the numerous benefits of blockchain. 

Among the list of confirmed speakers include Emmanuel (Babz) Babalola, CEO, Bundle Africa; Ruth Isalema, CEO, Bitmama; Efosa Ighodaro, Founder/CEO, Hashgreed; Oluchi Enebeli, Founder, Web3Ladies; Ayodeji Awosika, Founder, Web3Bridge; Famous Ehichioya, CTO, YouVerify. More speakers are yet to be announced.

Discussions on Web 3.0, Crypto, NFT and the Metaverse are some of the topics that registered delegates can look forward to.

The Technext Coinference will also provide a visible platform for key players in the blockchain ecosystem across Africa to reach an audience of young, enthusiastic and ready Africans all in one place. 

The hybrid event will also provide an exciting opportunity for blockchain enthusiasts to meet other enthusiasts, and develop ideas and positions for future gain.

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Business

Empowa and World Mobile Launch An NFT Partnership

Empowa, a RealFi project built on the Cardano blockchain has partnered with World Mobile, the world’s first blockchain-based mobile network based on the sharing economy to launch a joint NFT project. The initiative will finance the construction of affordable housing and decentralized internet in Mozambique. 

Additionally, the collaboration aims to deliver more life-changing solutions to underbanked and unconnected regions in the world.

Glen Jordan, Empowa CEO, and Co-Founder commented on the partnership saying, “This RealFi NFT allows impact investors to be rewarded while fundamentally changing the lives of others. Many of us have the privilege of a stable roof over our heads and constant access to the Internet. This is not the reality for most of the world, particularly in Africa. Investing in this change presents an amazing opportunity to do well while doing good.”

Micky Watkins, World Mobile CEO also added, “We are delighted to be partnering with Empowa to deliver connectivity to the financially excluded and unconnected. Empowa shares our belief that financial autonomy and connectivity are crucial for economic and social development, and we are excited to work with local entrepreneurs to grow our network and sharing economy. By allowing people to own the AirNodes on our network and earn from them, we create a circular ecosystem where everyone benefits from improved connectivity and economic opportunity.”

Besides the ongoing NFT project, Empowa is raising funds to invest in the construction of homes in the port city of Beira in Mozambique. These homes will provide the backbone and market upon which the World Mobile team and local entrepreneurs can work together to install AirNodes and provide reliable and affordable Internet connectivity to the mass market.

Watkins pointed out that Empowa’s project offers great opportunities for the NFT project. 

He said, “The synergy of our network and Empowa’s decentralized home financing will provide life-changing opportunities for people in Beira. Not only will hundreds of people have access to affordable homes, but they will also be able to join the sharing economy and benefit from the many opportunities offered by connectivity through the World Mobile network.”

World Mobile and Empowa are both cutting-edge projects building on the Cardano blockchain. They were first introduced as members of the Blockchain4Good collective, and have a shared mission of building financially sustainable businesses to make a social impact using Web 3.0 technology.

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Business

Bybit Launchpad 2.0 To List Diamond Launch Coin (DLC)

Bybit, one of the world’s fastest-growing crypto exchanges, will list DLC, the utility token of Diamond Launch, on Bybit Launchpad 2.0, a recently updated platform for ground-breaking blockchain ventures.

The crypto exchange will host the initial exchange offering for DLC on the Bybit Launchpad 2.0, with the full spot listing scheduled for September 15.

Diamond Launch is an initial digital asset offering (IDO) protocol and a multi-chain IDO distribution platform. 

Diamond Launch has created a stringent Know Your Customer (KYC) process to stop nefarious and dishonest individuals from accessing the platform in order to ensure a secure environment for all investors that access the Diamond Launch ecosystem.

Furthermore, Diamond Launch offers an inclusive and low barrier to entry to incentivize and reward all token holders. In this way, users can easily access the platform and join token pre-sales.

DLC joins a list of web3 initiatives debuting on Bybit’s intuitive platform for promising crypto projects. Bybit Launchpad 2.0 gives users early access to some of the most sought-after tokens in the space. 

Bybit users can commit BIT to subscribe to token allocations or participate in Launchpad 2.0’s new lottery model where users stake a nominal amount of Tether (USDT) for the chance to win allocations of new tokens. Users can also buy the best-performing tokens from previous listings via Launchpad. 

Additionally, Diamond Launch provides BNB Smart Chain, Polygon, and OKX users with configurable sales kinds and whitelisting requirements. There is a community for Diamond Launch that uses sites like Twitter, Telegram, Medium, and others.

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Business

MAD Metaverse Announces $10 Million Airdrop for September 2022

Collaborative gaming ecosystem for NFTs and digital assets, MAD Metaverse has announced that it is preparing one of the biggest airdrops of 2022 a giveaway of $10 million worth of their in-game currency, $BIOMETA, and 10,200 NFTs from the MAD Metacell collection.

According to the released press statement, the giveaway will start on Friday, September 9th, and for the Metacell Free Mint on September 16th. 

The statement further reported, “Users will have to register to the MAD Whitelist at premint.xyz/MAD, which will give them exclusive access to the 1) $BIOMETA Airdrop, 2) MAD Metacells Free Mint, 3) Meta scientists Pre-Sale & Main Mint and exclusive channels in the MAD Discord. Users without the free MAD Whitelist will not be eligible to participate. Additionally, users can choose one of 10,200 MAD Metascientists; these unique NFT characters will help them search for $BIOMETA, the most precious resource in the MAD Metaverse.”

Built on Ethereum, the MAD ecosystem features 3 playable NFTs (Metascientists, Metacells & Nanocells) focusing on one key concept: Evolving NFTs.

The MAD Metaverse can accommodate millions of players, but those who can get their hands on a limited Metascientist (Total supply of 10,200) will be far superior to other players due to the Metascientists’ higher levels of skill, better attributes, exclusive privileges, and capacity for better long-term returns. The main objective is to gather $BIOMETA to aid in the players’ experiments, regardless of the role they decide to play.

Besides the 3 playable NFTs, the MAD ecosystem also features a gamified DeFi facility, where users can play and evolve their NFTs. In the Lab, users can play with their Metascientists and Metacells, while also being able to mutate their Metacells using 3rd-party collectibles, allowing for more $BIOMETA harvesting and defending themselves against other players and bad actors on the MAD landscape.

The MAD Metaverse team has collaborated with eminent gaming studios and well-known performers, such as Kevuru Games, Ubisoft, and EA Games. By doing this, MAD Metaverse will make sure that its MMOG interests players with novel gameplay mechanics and visual design elements.

The game will support different blockchains as it develops, including interfaces with Solana and Polygon, giving players a deeper cross-chain experience.

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Business

Wemade to invest in Metaverse Magna, an African P2E guild project

Video game developing company, Wemade has announced a strategic investment in Metaverse Magna (MVM), a P2E guild project from Africa.  The blockchain gaming platform has raised $3.2 million in a seed funding round.

With this investment, MVM plans to expand its efforts to build Africa’s largest gaming DAO, as well as provide gamers with access to world-class opportunities.

Additionally, Wemade aims to expand the ecosystem of WEMIX3.0 and start operations in Africa in the long term.

Henry Chang, CEO of Wemade, commented on the partnership saying, “Gaming guilds will be one of the mainstream DAOs and play a pivotal role in the game tokenomics. Our partnership with MVM is an opportunity to expand the ecosystem of WEMIX in Africa, the continent with a rapidly growing market and a young population.” 

With over 186 million game users in Africa, MVM aims to create the biggest gaming community in Africa and provide tools for users, investors, developers, and guild operators within the ecosystem.

Yele Bademosi, CEO of Nestcoin, MVM’s parent company, and former director of Binance Labs in Africa also pointed out that Africa has the highest youth population globally but most of them are unemployed therefore there is potential growth in the game industry in Africa.

He said, “Africa has the highest youth population globally, but over 60% of the continent’s youth are unemployed. Gaming presents a unique opportunity to help young Africans earn and lift themselves and their families out of poverty. MVM’s seed sale token ensures opportunities for millions of gamers in these emerging markets.”

Also with MVM as Africa’s first and biggest gaming DAO, Nestcoin supports the overall P2E game lifecycle of various P2E games that it has invested in, such as incubation, launchpad support, token/NFT public sales, and game operation.

Furthermore, MVM is helping gamers in Africa through its community and self-developed app, Hyper. It plans to expand its business by providing guild management tools through developing its own OS, P2E game software design kit for game developers, gaming DeFi services, and more.

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Business

Blockchain Nigeria User Group (BNUG) To Host A Blockchain Technology Conference

The Blockchain Nigeria User Group (BNUG), a group of blockchain and cryptocurrency developers, enthusiasts, and investors has announced that they are organizing a “Blockchain and Futuretech conference.” The conference is set to take place on 29th and 30th September 2022.

The group’s aim has been to drive the adoption and awareness of the Blockchain industry in Nigeria and across Africa, since its inception in 2016, and currently, through this conference, the community aims to come up with ways to impact and support the Nigerian political ecosystem through blockchain technology.

The two-day program is expected to be the most advanced, impactful immersive tech and growth conference granting participants access to Virtual Reality Rooms, GameFi platforms, and interactions within different metaverse worlds.

Mr. Stanley Jacobs, former Business Development Manager for MasterCard Africa, and Chief Executive at Stanbic IBTC Financial Services Limited will chair the conference, with the Special Guest of Honor being Mr. Kashifu Inuwa Abdullahi, Hon. Director General National Information Technology Development Agency (NITDA). 

According to BNUG’s released statement, participants will be able to mint special access NFTs for different aspects of the event and also support their preferred 2023 presidential candidates via blockchain technology.

In addition, participants will be able to lay the first stone with NFTs and learn precisely what they are and what you can do with them, and better yet, understand how to become an NFT buyer or seller.

Through such conventions, the Blockchain Nigeria User Group intends to create a pro-innovation environment for the blockchain industry, meeting the growing global demand for accessible, transparent, and democratic financial and collaborative systems. 

Now transitioning into a DAO, BNUG is a sub-set of Organisation of Blockchain Technology Users (OBTU), a duly incorporated Trust with CAC, and an association desiring Self-Regulatory Organisation (SRO) status for the Blockchain Technology Industry in Nigeria and across Africa.

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Business

Binance Pulls Support of USDC And Converts Several Stablecoins to BUSD

Binance, the world’s largest cryptocurrency exchange by volume, announced recently that it would begin auto-converting existing and new deposits of USDC, USDP, and TUSD stablecoins into its native BUSD, effectively delisting three rival stablecoins.

The company says the move will enhance liquidity and capital efficiency for users.

According to Binance, the change is set to take effect on September 29.

Among stablecoins, USDC is the second largest by market cap at $51 billion, according to CoinMarketCap. 

Binance’s BUSD stablecoin is a distant third, with a market cap of $19 billion less than half that of USDC. This move effectively removes direct custody of USDC (and USDP and TUSD) for Binance’s 28 million users.

“This will not affect users’ choice of withdrawal: users will continue to be able to withdraw funds in USDC, USDP, and TUSD at a 1:1 ratio to their BUSD denominated account balance,” Binance said in a website statement. 

The exchange also stated that users will be able to see the converted balance on their accounts within 24 hours and the minimum amount for manual conversion is 1 USDC, USDP, or TUSD. Accounts with lower balances will auto-convert to BUSD.

Additionally, Binance may amend the list of stablecoins eligible for auto-conversion.

However, the news of Binance’s decision was met with some skepticism, noting the move converts rival stablecoins into Binance’s own.

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Business

Bank of Russia to legalize Crypto cross-border payments

Russia’s stance on crypto is a definition of a love-hate relationship. Russian President Vladimir Putin went from suggesting that Bitcoin cannot be dismissed to banning the use of digital assets as a payment method. In addition to this, almost the entire crypto community revolted against the country for waging a war against Ukraine.

Following that, governments all over the world imposed sanctions that made it difficult for money to circulate in the country. While the country turned to cryptocurrencies, the industry turned its back on the Kremlin. 

Now, the Bank of Russia has announced that it is considering legalizing crypto for cross-border payments.

Deputy Finance Minister Alexei Moiseev revealed that the Bank of Russia and the finance ministry have decided to give a green signal for crypto-related cross-border payments.

A week ago, Mikhail Mishustin, the prime minister of Russia, said cryptocurrencies were a secure alternative for cross-border payments. It seems like this and the finance ministry’s inclination towards the same could have pushed the central bank of Russia to move forward with its latest decision.

Furthermore, Moiseev pointed out the need for rolling out local crypto services in the region. 

He added,

“It is necessary to do this in Russia, involving entities supervised by the central bank, which are obliged to comply with Anti-Money Laundering and Know Your Customer requirements.”

In addition to this, he also noted how the central bank’s approach toward crypto has evolved and suggested that the planned framework was too rigid. Therefore, the legalization of cryptocurrencies in cross-border payments is necessary.

Categories
Business

LG Electronics Launches NFT Platform “LG Art Lab” for Smart TVs

South Korean multinational company, LG Electronics has launched its new NFT platform LG Art Lab. This was announced in a tweet published recently. 

The platform will offer a curated selection of world-class artists integrated seamlessly into mobiles, desktops, and LG TVs.

The marketplace is accessible from the LG home screen or smart TVs and enables people to buy, sell, and trade non-fungible tokens (NFTs) from the comfort of their homes. 

Wallypto, LG’s in-app crypto wallet developed by the Hedera network last September is handling transactions on LG Art Labs. The NFT platform is also built on the Hedera blockchain network since LG is part of the Hedera Governing Council. Furthermore, Users can work with the platform if they complete the most recent software update.

Currently, the platform is new and does not feature much. However, users can buy one NFT by scanning the QR code and using LG’s Wallypto app. The transaction will require holding USDC.

Additionally, the feature is currently limited to individuals in the United States. The first NFT collection is set to be available on September 22, released by artist Barry X Ball.

With the launch of LG Art Lab, LG joined Samsung in announcing the launch of digital art in January 2022. In its statement, the company stated that it will be collaborating with digital artists. Samsung has also released an NFT marketplace on some of its TVs, and it makes use of Nifty Gateway. 

LG plans to add more collections on a monthly basis.

Companies like Samsung and LG have both been working with blockchain technology and other developments like NFTs. After Samsung had announced that it would support some crypto assets on its Galaxy phones, LG revealed that it was working on its own blockchain-focused phones. However, not much news has appeared on this matter since.

The incorporation of NFTs seems to have more promise because businesses can collaborate with different brands and artists to improve user engagement. The integration with NFTs expands the possibilities for displaying artwork on high-end TVs, which are utilized for this purpose frequently.

Web3 is popular in South Korea generally, and the Government is developing regulations to support it. Companies may be encouraged to invest more in NFTs and associated technologies as a result of this.