Nigeria Intends To Help Content Creators Monetize Their Art Through The Algorand Network

Nigeria has partnered with the Developing African Group on a three-year intellectual property (IP) agreement that will lead to the commercialization of IP created and registered in the country. As part of the partnership, the Government of Nigeria will grant the Developing African Group an exclusive license to develop a platform where citizens of the country can upload and sell their IP.

All royalties will go into users' wallets on a platform created by the Developing African Group. Content that can be commercialized on the platform includes copyrights and trademarks of songs, videos, lyrics, shows, podcasts and other forms of streaming content, the press release notes.

Developing Africa Group selected Koibanx and Algorand, after approval from the Nigerian government, to get started. According to the announcement, while Koibanx will develop tokens that will be used to trade artist IP, Developing Africa Group plans to build the entire platform, including the digital currency, on the Algorand network.

Image: Kryptomoney