by Jonathan P-Wright | Sep 8, 2023 | Business News, Latest |
Image Credit: Photo by Giorgio Trovato on Unsplash
In the vast crypto landscape, Kotani, a Nairobi-based startup, stands out with its ambitious vision to simplify cross-border payments for Africa’s enormous underbanked population. This two-year-old startup is specifically focusing on a use case that directly affects the lives of hundreds of millions of individuals in countries like Kenya, Ghana, Zambia, and South Africa.
Securing $2M Pre-Seed Funding
Kotani recently announced the completion of a successful $2 million pre-seed funding round. The funding was led by P1 Ventures, with significant contributions from other prominent investors, including DCG/Luno and Flori Ventures. This financial boost is poised to propel Kotani’s mission to promote financial inclusion through the use of cryptocurrency.
Aiming for Expansion
With this newfound capital, Kotani plans to amplify its operations and extend its reach to other African nations. The countries in sight for expansion include Rwanda, Senegal, Ivory Coast, Tanzania, and Nigeria.
Remittances: The Lifeline of Sub-Saharan Africa
Remittances to the Sub-Saharan region are estimated to reach $55 billion this year, according to the World Bank. In certain African countries, remittances make up as much as 20% of the GDP, as reported by the United Nations. Despite playing a critical role in the African economy, remittances are plagued by high transfer fees.
High Transfer Fees: The Insurmountable Challenge
In some nations, transfer fees can gobble up to 20% of the transferred amount. The reasons for these exorbitant costs are multifaceted, ranging from a poorly developed banking system, lack of information, and currency volatility. Kotani aims to overcome these challenges by leveraging blockchain technology to facilitate remittances to Africa.
Stablecoins: The Solution for Remittances
Specifically, Kotani is utilizing stablecoins, a type of cryptocurrency pegged to fiat currencies like the USD. The startup’s goal is to enable the transfer of money across borders using stablecoins, thus significantly reducing the cost of remittances.
Integrating with Local Payment Networks
To allow users to cash out their stablecoins and make payments in local currencies, Kotani has developed a middleware that connects blockchains to local payment networks. This system works with networks that enable users to send money on feature phones without internet connectivity, using a protocol known as Unstructured Supplementary Service Data (USSD).
B2B Solutions and Partnerships
Kotani offers its technology as a B2B solution, connecting crypto platforms’ smart contracts on one end and mobile money APIs on the other. Some of its major crypto partners include Yellowcard, DCG, Fonbank, Celo’s Valora, Mercy Corps, UNICEF Crypto Innovation Fund, and Stellar.
On-Ramping: Converting Local Currencies
In addition to cross-border remittances, Kotani also enables users to “on-ramp,” i.e., convert their local currencies into USD. This service is primarily offered to businesses but could potentially be extended to retail users in the future.
by Pharron Fields | Sep 7, 2023 | Latest, Music News, New Music Alert |
As we inch towards the twilight of the summer season and prepare to embrace the crisp ambiance of fall, it is impossible to ignore the mellifluous voices that have serenaded us throughout the season. Mercury may still be in retrograde, but the musical cosmos is in perfect alignment, offering us an array of harmonious compositions that perfectly complement the changing seasons. As the sun sets on Beyoncé’s Renaissance World Tour, we find solace in the new creations by some of R&B’s most talented artists, helping us transition smoothly into the new season.
Among the myriad of voices, one stands out – Jorja Smith. Her long-awaited sophomore album’s title track has been shared, and it’s as emotion-inducing as Ama Lou and Xenia Manasseh’s debut albums. While we patiently wait for Chase Shakur’s debut LP, he ensures his fans are well-fed with the deluxe edition of his EP. Keke Wyatt is making a stealthy re-entry into music with the lead single from her first album in six years. Additionally, male crooners like Eric Roberson, Lendryx, Landon Thomas, and Beharie are guiding us down a soothing path that’s deeply essential.
Jorja Smith – “Falling or Flying”
Jorja Smith, who welcomed the summer with her singles, “Little Things” and “GO GO GO,” has now unveiled the title track from her highly-anticipated sophomore album, “Falling Or Flying.” During a conversation with Zane Lowe from Apple Music, Smith confessed that this track is currently one of her favorites, depending on her mood.
Smith elaborated, “This song always takes me on a journey, so right now it’s one of my favorites. Maybe because it’s coming out. But it’s funny though because that song started out completely different with me and the producers. It’s the first song we actually ever started together but it didn’t have the chorus before, and we moved everything over and did all sorts to it, and then we got this chorus. But the song has nothing to do with the album title. It’s just called that.”
The music video for “Falling or Flying” also marks Smith’s directorial debut. She had always dreamed of shooting a video in space, and this song gave her the perfect opportunity to fulfill that dream. She candidly mentioned that she wanted to journey into space with someone she loved and cherished, but they didn’t reciprocate her enthusiasm.
Smith’s new album is set to release on September 29, and music enthusiasts are eagerly waiting for the release.
Ama Lou – “I Came Home Late”
Ama Lou’s debut album, “I Came Home Late,” is a testament to her profound songwriting skills. With an assortment of 15 tracks, including previously released singles “Silence” and “Caught Me Running,” the album paints a vivid picture of Lou’s artistic range.
Lou began songwriting at a tender age and released her debut single, “TBC,” in 2016, which caught the attention of Drake and heavily influenced his 2018 album, “Scorpion.” She has since dropped three EPs, providing fans with a taste of her depth before unveiling “I Came Home Late.”
Chase Shakur – “It’s not you, it’s me… it’s love”
Chase Shakur continues to tantalize his fans, who are eagerly waiting for his debut album, with the release of his deluxe EP, “It’s not you, it’s me… it’s love.” The EP follows the highs and lows of a tumultuous relationship, providing an insight into the male perspective of an emotionally-charged romance. The captivating follow-up includes three new tracks: “nite,” “exit 65,” and “you’re so lovely.”
Shakur has clarified on his Instagram that “this is NOT the album,” and is looking forward to performing these tracks live on his “It’s Still Love Tour.”
K. Michelle – “Blame Yourself”
K. Michelle is gearing up for the release of her final R&B album, “I’m The Problem,” and has shared the LP’s fourth single, “Blame Yourself.” The introspective track urges women to take some accountability and introspect whether they are the problem in their relationships.
The Memphis native sings, “You’re playing the victim all because he made you look stupid/ ‘Fore you put the blame on everybody else/ Point to the mirror and blame yourself.” Her honest and heartfelt lyrics echo the album’s premise.
Back in May, K. Michelle candidly expressed on Instagram, “I am the problem. Took me so long to solve ’em.” In a recent interview with The Shade Room, she added, “I’m gon’ be the problem regardless. The industry gonna label you. It doesn’t matter. I could try to change; I could be better, [but] no matter what I do, I’m a problem because I still stand for what I stand for and I am how I am. It just is what it is.”
LAYA – “Bet That”
LAYA’s long-awaited new EP, “BET THAT,” is finally here. The seven-track project is a confident flex, proving that LAYA is in charge of her world and isn’t budging one bit on that matter. The unapologetic anthem, “F’d Up,” set the tone for the EP, and the Staten Island, N.Y. native continued that momentum with “I Ain’t Playin’,” title track, “Bet That,” and the manic yet soulful “Psycho Bitch.”
The EP succeeds her debut EP, “Um, Hello.” If you’ve been missing out on this rising star, consider this an alert to wake up.
Raiche – “Big Daddy”
Raiche’s new single, “Big Daddy,” is a breath of fresh air as she addresses an alternative perspective from records like Usher’s “Hey Daddy (Daddy’s Home).” Her soothing, distinct tone captivates listeners as she sings, “You just stepped in/ What you bout to prove/ Big daddy, come take real good care of me/ Say that’s what you can be […] You know what your baby needs/ Just come through.”
The singer, with her soulful roots and alternative pop flair, recently performed at 2023’s Atlanta Funk Fest. Since her debut single in 2018, she has amassed over 20 million international streams and has been featured in Netflix’s Self Made: Inspired by the Life of Madam C.J. Walker and on The Kelly Clarkson Show.
Beharie – “We Never Knew”
Beharie is a dream we never knew we needed. Our introduction to the Norwegian crooner is his latest single, “We Never Knew.” The idyllic production is a somber reflection on a forever love that’s now non-existent.
The singer explains, “In the heat of it all. When you lose yourself in it. How things made sense, and how the bad things were ignored. But little did we know that we would end up being strangers.”
The record stems from his in-depth exploration of varying identities as heard on his upcoming debut album, “Are You There, Boy?,” set to arrive on October 20. Of the album, he explains in a statement, “This album has given me the opportunity to delve into various aspects of my own identity, and in the process, I have explored the complexity inherent in my personality and expression.”
Eric Roberson – “I Apologize”
Eric Roberson is honoring the indie R&B movement with a series of new monthly releases. “I Apologize” is the second single of the series, inspired by what the crooner considers to be his “creative gumbo.”
Co-written and produced by Jairus Mozee, Brett “B Dubb” Baker, Rodney Jones, and Roberson, the latter explains in a statement, “The song is inspired by the creative gumbo that feeds my music. The theatrical musicality of Stevie Wonder, heartfelt word play of urban contemporary gospel group Commissioned, and the unapologetic low-end approach of A Tribe Called Quest.”
Marzz – “In The Morning”
Marzz is back! Two years after the release of their debut EP, Love Letterz, and its subsequent deluxe installment, the singer’s impassioned new single, “In The Morning,” hypnotizes us once more.
“This song represents a feeling of waiting until the morning, getting excited of the unknown,” they explained in a statement. “It’s the wishful understanding of everything within a relationship. Sometimes we need understanding about falling in love when we’re not sure.” Ultimately, Marzz hopes their music encourages listeners to “create their own narratives” but in a magical way.
Landon Thomas – “Anything”
Landon Thomas may be new to us, but R&B is embedded in his DNA. With the lead single, “Anything,” from his forthcoming album, “R U STILL MAD AT ME,” the Pittsburgh, Pa. native is making his mark as a trailblazer with his infectious melodies and unique spin on contemporary R&B.
As he sings “Do you mind/ If I slide on you/ Spend time with you tonight/ Do you mind if I chill with you/ Make it real for you,” we’re drawn into the heartwarming embrace of his sultry tone.
“Anything” irresistibly sets the tone for the LP centered about intricate feelings, relationships, and ultimately, self-discovery.
“R U STILL MAD AT ME” arrives on Sunday, September 3.
Xenia Manasseh – “Love/Hate, PT. 1”
Xenia Manasseh’s debut album, “Love/Hate, Pt. 1,” is an emotional rollercoaster focused on love’s unpredictability. The 11-track LP is for delicate yet powerful women as the Kenyan-born, Los Angeles-based singer fuses her heritage with a sorrowful, intensely honest masterpiece.
After earning songwriting credits on Teyana Taylor’s The Album and singing background vocals for Taylor, Big Sean, and Burna Boy, fans love Xenia’s universal lyricism and earnest personal reflections.
“All the songs are special to me because they all came from me, they’re all my feelings on a page or in a song and the creation of all songs is sentimental to me,” she shared in a statement of the album. “But I will single out GI’s intro that is with my grandfather, Edgar Manasseh, GI is his nickname. That was done this year and was extremely sentimental and emotional because he has influenced so much of my musical journey. I can think of days when I was growing up he would teach me how to play things on the piano and his music collection is incredible.”
The endearing Swahili song was paired with a Luka Tututu composition. The LP wraps up just as strong as it began with the emotive yet hopeful “Love/Hate.”
She explained, “‘Love/Hate’ is also one of the tracks I felt that was the song that encompassed all the feelings that are spoken about in the album–the good, the bad, and in-between. I try to remember that balance as a lifeline. I’m also a Libra which is the sign of the scale, so I try to see the world through that lens and I felt like it’s not just representative of the album but also of me. I feel like everything in the album falls under those two words. It’s like a pendulum swing–you’re in and you’re out.”
Most of all, she hopes listeners take away the understanding of love’s karmic journey while also learning that it’s just the beginning. “This is just part 1 of the album; there’s a part 2 and in all of it, just know that love always comes around and it’s how you approach it the second time that matters.”
Keke Wyatt – “Water Into Wine”
The first offering from Keke Wyatt’s new album–her first in six years–has arrived. “Water Into Wine” showcases the mother of 11’s soulful roots as she gets honest with her lover about some expectations and realities.
“I really feel good about signing with Shanachie!” the singer said of her new team in a statement. “I’m excited and finally ready. I feel like this time we will create magic together and make HISTORY!”
Shanachie General Manager, Randall Grass, chimed in, “At a time when great singers are in short supply, Keke Wyatt continually displays what real singing is all about. Her range, power and intensely felt vocals connect with her audiences on the deepest level. We loved working with her before and are very excited to work with her now to make an epic new album.”
The reality TV star assures fans that her new LP will spotlight “good ole sanging” and will be an honest look into her life as she gears up to bare it all.
Lendryx – “Forces”
Lendryx is channeling two R&B legends with his new single, “Forces.”
Produced by Dionso, OSEI, and Jproof, the slow jam oozes romantic gratification as the crooner also inquires about the tug ‘o war battle of not wanting to fall in love, but also realizing that may be out of his control.
“I don’t wanna be in love/ But you’re so tempting/ When you leave the room, it feels so empty/ I’m trying be tough/ I’m fighting forces,” he sings.
Lendryx feels the ballad is his most “dynamic vocal performance yet” and admits that he challenged himself by using Tyrese’s “Signs Of Love Makin'” and Brandy’s range as the foundational elements of his vocal execution. It follows his previous single from April, “Just My Turn.”
Shae Universe – “Passenger Princess”
Shae Universe is riding the wave of her recent single, “Passenger Princess,” with the premiere of its visual. The song’s video, starring Kojey Radical, hints at the enthralling story being told as the title card reads, “Ever wish you could go back in time?”
Viewers see Shae seated in the backseat during a late-night drive as she reflects on some lingering feelings and bittersweet memories. The song, itself, was birthed by those emotions.
“He’d sent me roses all the way from LA and I still wasn’t over everything we’d been through when I received them, so I put all my mixed emotions into this song,” the UK-bred songbird stated of the record.
“I think ‘Passenger Princess’ is a very special song because not only is the title current and relatable, but the song’s deeper message of not always knowing exactly how to navigate situations is part of being a human with feelings. A part that sometimes frustrates us but hopefully, through this song, people feel seen and confident enough to accept this grey area of life.”
by Pharron Fields | Sep 5, 2023 | Business News, Latest, Tech News |
Image Credit: Photo by Per Lööv on Unsplash
Teamshares: A Novel Approach to Business
First on our list is an intriguing venture by Teamshares. This startup has been attracting a substantial amount of capital and has embarked on an ambitious mission of acquiring numerous small and medium-sized businesses (SMBs). However, this is merely the tip of the iceberg. Teamshares also plans to offer its employees the opportunity to earn stock through prolonged service, while simultaneously providing centralized fintech services to all its subsidiary companies. This novel business model has ignited much discussion in the startup community.
MoonPay: Stepping into the Venture Game
Next, we turn our attention to MoonPay, a crypto payment infrastructure company that is venturing into the world of investments. MoonPay is setting its sights particularly on crypto, gaming, and fintech. The confluence of these three sectors invariably leads to crypto games. We are keenly observing MoonPay’s investment decisions, as new funds that are crypto-themed or crypto-adjacent are becoming increasingly scarce. Therefore, MoonPay’s entry into the market is indeed exciting news.
Rent Butter and Kiki: Revitalizing Renting
With the zero interest rate era drawing to a close and the experimental phase of building new iBuying and mortgage service startups partially concluded, renting is back in vogue. Consequently, startups that focus on rentals are also gaining traction. Two such startups are Rent Butter and Kiki, both of which are making waves in the rental market.
The Elusive Tech IPOs
The long-awaited tech IPOs have been more elusive than anticipated. Using data from Crunchbase, we have noted the extended wait for authentic tech IPOs. The good news, however, is that they are gradually making a comeback.
Lean Startup Ideology Meets AI
Lastly, we explore what happens when the lean startup ideology infiltrates the realm of Artificial Intelligence (AI). As it turns out, this combination leads to an abundance of experiments.
And with that, our roundup of this week’s most significant startup and tech news concludes. Please note that due to an American holiday, our next episode of Equity will be broadcasted on Tuesday instead of Monday. Until then, keep innovating and stay tuned!
by Diontae Bussey | Sep 5, 2023 | Business News, Latest |
Image Credit: Photo by Andrey Metelev on Unsplash
The U.S. Securities and Exchange Commission (SEC) has stepped into the world of non-fungible tokens (NFTs), making its first enforcement action against a company in this space. The company in question is Impact Theory, a Los Angeles-based media company, which has been accused of selling unregistered securities in the form of NFTs. This case has sent ripples across the industry, providing insights into how NFTs could be regulated in the future.
The SEC’s Lawsuit: A Brief Overview
In a landmark move, the SEC is suing an NFT project, marking the first time the authority has taken enforcement action against a company for selling unregistered NFTs. The case revolves around Impact Theory, an LA media company that allegedly encouraged potential investors to view the purchase of their Founder’s Key NFT project as an investment into the business. The SEC order stated that the digital assets offered to investors were deemed “investment contracts” and therefore “securities.”
The Allegations
According to the SEC, Impact Theory “encouraged potential investors to view the purchase of Founder’s Key [the company’s NFT project] as an investment into the business, stating that investors would profit from their purchases if Impact Theory was successful in its efforts.” This, the SEC argues, means that the digital assets offered to investors were in effect “investment contracts” and therefore should be classified as “securities.”
The Settlement
Impact Theory neither admitted nor denied the SEC’s findings but agreed to pay more than $6.1 million in penalties to settle the allegations. The settlement also established a “Fair Fund” to compensate impacted investors. As part of the agreement, Impact Theory was required to destroy all of its Founder’s Key NFTs and eliminate any royalties it might collect from secondary market transactions.
Impact on the Crypto Industry
This case is significant to the crypto industry, which has been hit with a flurry of regulatory clampdowns in the U.S. It offers a clue for how NFTs could be regulated in the future, particularly as many other NFT projects have used language similar to how Impact Theory marketed its digital assets, touting their blockchain-based identifiers as investment opportunities.
Future Implications
Many other NFT projects have used language similar to how Impact Theory marketed its digital assets. These projects have touted their blockchain-based identifiers representing digital asset ownership as investment opportunities. The SEC’s action against Impact Theory could set a precedent for how these projects are regulated in the future.
Impact Theory’s Response
Despite the SEC’s allegations and subsequent settlement, Impact Theory is not giving up on its NFT endeavor. In a post, the founder of Impact Theory stressed that his company will ensure its future digital assets will be for utility rather than financial purposes.
The Founder’s Statement
“We will operate our go-forward business consistent with our good faith best understanding of all applicable laws, rules, and regulations. We will make clear that all of Impact Theory’s digital assets are collectibles with utility within the exciting new landscape of Borderless Entertainment. We will forcefully discourage people from treating our digital assets as anything other than what they are–collectibles with utility. We will have more news on this in the coming weeks and months.”
Conclusion
As the SEC’s first enforcement action against an NFT project, this case is a watershed moment in the crypto industry. It is a stark reminder of the regulatory complexities at play in this space and underscores the need for companies to ensure they are following all relevant laws, rules, and regulations. It remains to be seen how this case will impact the regulation of other NFT projects and the broader crypto industry in the future.
by Jonathan P-Wright | Sep 5, 2023 | Latest, Music News, New Music Alert |
As the echoes of the Notting Hill Carnival fade and we enter the twilight of summer, UK’s music scene refuses to dim. Among the artists still lighting up the stage is none other than the rising rapper and singer, Bib Sama. His latest single, “Baefriend”, is making waves and promises to keep the party going well into the autumn.
London’s Emerging Talent
Born and raised in London, Bib Sama has been on a steady climb to stardom. His debut mixtape, “PLATINUS ✧”, dropped last year and has been making noise ever since. His subsequent sold-out gig at Peckham Audio only added to the buzz surrounding this promising artist.
“All eyes have been on him ever since, and this new track looks like it could be his breakout smash.”
The Sound of “Nu-grime”
Bib Sama’s sound is as intriguing as it is catchy. Drawing inspiration from video game soundtracks and anime, he’s crafted a unique sound that’s been dubbed “nu-grime”. This genre-bending style has earned him comparisons to artists like JPEGMAFIA and Lancey Foux. But despite these comparisons, Bib Sama is carving out a niche all his own.
“Either way, he’s drawing an impassioned following that looks certain to grow beyond cult status.”
“Baefriend” Drops
With the release of his latest single, “Baefriend”, Bib Sama continues to prove why he’s one of the most exciting artists in the UK right now. The accompanying music video, which just dropped, is not to be missed. Add “Baefriend” to your playlists and keep an eye on this emerging talent.
What’s Next for Bib Sama?
While we can’t predict the future, one thing is certain: Bib Sama’s star is on the rise. With his unique sound, impressive discography, and growing fanbase, we can’t wait to see where he goes from here.
In the meantime, we’ll be here, eagerly anticipating his next move and keeping “Baefriend” on repeat.
Conclusion
In the ever-evolving world of music, new stars are born every day. But few shine as brightly as Bib Sama. With his blend of unique sounds and undeniable talent, he’s an artist to watch.
Whether you’re a long-time fan or just now discovering his music, one thing is clear: Bib Sama isn’t going anywhere but up. And we’re here for the ride.
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