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Tech News

Twitter’s Jack Dorsey sells first-ever tweet for $2.9 million as an NFT

Dorsey has sold his first-ever tweet yesterday for $2.9 million dollars as a non-fungible token.

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Square buys $50 million worth of Bitcoins, Twitter warns political figures to abstain from fake, misleading statements, Has Twitter's Jack Dorsey changed the popular narrative attached to Nigerians?, Twitter forecasts future drop in revenue after milestone record in 2019 Q4 , Twitter founder, Jack Dorsey invest N2.3 million in Nigerian startup, DevCareer , Some Verified accounts may not be able to tweet, as Twitter freezes password reset to address cyberattack, Jack Dorsey Sells First-ever Tweet for $2.9 million dollars as an NFT
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Twitter CEO, Jack Dorsey has sold his first-ever tweet yesterday for $2.9 million dollars as a non-fungible token, or NFT.

Sina Estavi, CEO of blockchain company Bridge Oracle based in Malaysia bought the tweet.

The tweet was made on March 21, 2006, and it said: “just setting up my Twitter,” and the bidding for the tweet started December 2015 and ended on March 21.

Dorsey’s tweet was auctioned on Valuables, a platform by Cent, a social media network built on blockchain. Tesla’s Elon Musk has also listed a tweet on the same platform but has yet to sell it.

READ: Twitter founder, Jack Dorsey donate N2.3 million to Nigerian startup, DevCareer

Non-Fungible Tokens, NFTs, a unique digital asset secured on a blockchain have been the latest trend lately. Each NFT has its own signature, which can be verified in the public ledger and cannot be duplicated.

In a tweet, Jack Dorsey said he will convert the proceeds to Bitcoin and send to “Give Directly Africa Fund” a non-profit organization.

READ: Trump to return to social media with his own platform in 2 months

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Jack Dorsey’s tweet was bought using Ether for 1630.5825601 ETH, which was worth around $2,915,835 at the time it sold.

SSKOHN

In case you missed it: Dorsey earlier announced his intention to auctioning his first-ever tweet on a website that sells tweets as non-fungible tokens (NFTs).

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Janet John is a graduate of Chemical Engineering from the University of Uyo. She specializes in technical writing where she creates easy to read documentation, articles to clearly and efficiently explain highly complex processes. When she is not writing, she works as a freelance front-end developer

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Interview

Okra is building the tools to enable the fintech industry thrive – Co-Founder

In an interview with David Peterside, Co-Founder and COO at Okra, he talks about everything the Nigerian fintech API startup does.

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The rise of API fintech companies has made it easy for businesses to access real-time banking data. The adoption of API shifted into top gear in the United States when tech API company, Plaid, launched and made access to data easy. Many finance apps like Venmo, Coinbase, and Robinhood currently use Plaid’s API infrastructure.

For fintechs, the ability to easily verify and leverage consumer data makes it possible for them to offer a myriad of financial services to their customers. For instance, if you are a digital lender, having instant and verified access to users’ financial information, account balances, and history will allow you to make better, more informed and data-driven lending decisions.

In Nigeria, we have also witnessed the rise of API startups like Okra, which has created a secure portal and process to exchange real-time financial information between customers, applications, and banks. Okra has dug its heels in, connecting to all banks in Nigeria with a 99.9% guaranteed uptime.

READ: API Startup, Mono joins Y Combinators Winter 2021 batch

Since its launch in 2020, the startup has recorded an average month-on-month API call growth of 281% and has also analyzed more than 20 million transactions. Tech companies like uLesson, Carbon, Interswitch, Indica, Opay, Credpal, etc. leverage Okra’s technology to power their businesses.

In an interview with David Peterside, Co-Founder and COO at Okra, he explained what Okra does.

What was the inspiration for founding your startup?

Consumers are demanding full digital experiences of products/services. The businesses and startups trying to build out these solutions simply didn’t have the right tools to build an end-to-end personalized digital experience for customers — so we decided to start a company focused on building out the necessary tools to enable the fintech industry to thrive.

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What does Okra do and what sets you apart from other fintech startups?

SSKOHN

We enable developers and businesses, especially in financial services build personalized digital products. The difference between Okra and other fintech startups is simple; Okra is the tool that other fintech startups use to build out personalized financial products/services like lending, savings, investments, etc.

Is your API only restricted to the fintech space?

The companies currently building with our API include startups, banks, and government agencies.

Do you believe Nigeria is truly ready to adopt an open banking system?

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The data from other markets clearly show that Open Banking as a service is a net positive for the economy, businesses, and most importantly, consumers. We’ve also learned that the US approach to Open Banking as a service is by far more efficient than the UK/EU — when you compare the time (to build), adoption, and growth of fintech in both markets. The Open banking principle is great but narrow. It’s not only about digitizing banking but wealth management, insurance, and investing. Okra is in the business of Open Finance. The global standards are clear. NDPR, GDPR (EU), and the Dodd-Frank (US) clearly establish that consumers should have control over their information and have the ability to permission their information to any third-party service of their choice.

What would be the role of API companies such as yourself in encouraging open banking in Nigeria?

It’s very important for the developers, banks, and businesses building digital products/services to have access to standardized data. This is available today with the Okra API.

How do you address concerns on data privacy and web security?

As an infrastructure company, we invest a lot of capital and resources in privacy & security. We are also NDPR and GDPR compliant. We also give consumers the ability to stop sharing information at any time.

What are your plans for expanding into other African markets and how soon do you propose to implement such plans?

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The focus is currently Nigeria, we see the African continent as our total addressable market but I can’t give specifics on the timeline.

In case you missed it

Nairametrics earlier reported that Okra closed $3.5 million in a seed round led by U.S.-based Susa Ventures.

So far, the API company has raised a total of $4.5 million in two funding rounds.

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Business News

FIS partners Flutterwave to expand its payment processing to Nigeria, South Africa and Malaysia

FIS is offering domestic payment processing services through Africa’s leading payments technology company, Flutterwave.

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FIS Partners with flutterwave to expand its payment processing to Nigeria, South Africa, and Malaysia
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Financial technology leader, FIS announced today that it is expanding its payment processing capabilities into the rapidly growing markets of Malaysia, South Africa, and Nigeria.

The company secured a domestic acquiring license in Malaysia to provide its Worldpay payment processing platform.

While in South Africa and Nigeria, FIS is offering domestic payment processing services through Africa’s leading payments technology company, Flutterwave. A partner and 2016 graduate of the FIS FinTech Accelerator program, Flutterwave has processed over 140M transactions worth over $9B to date.

The recently published 2021 Global Payments Report by Worldpay from FIS projected that Nigeria’s online commerce via mobile devices is projected to more than double by 2024 to be valued at $31 billion. In South Africa, the eCommerce industry is projected to be worth $9 billion by 2024 with mobile accounting for a third of the spend.

Merchants doing business in these countries will be able to take advantage of Worldpay’s advanced acquiring capabilities which include authorization, clearing and settlement, dispute management, and data insights. Merchants will also benefit from a seamless payments experience through a single point of integration—helping to increase acceptance, improve customer experience, and reduce fraud.

What they are saying

Jim Johnson, Head of Merchant Solutions at FIS said “The COVID-19 pandemic has accelerated the adoption of digital technology and fueled the growth of eCommerce around the world. Emerging markets across Southeast Asia and Africa present fresh opportunities for global businesses. These new markets are also home to a new generation of ambitious high-growth regional brands looking to expand their footprint. Our goal at FIS is to be a true partner to these enterprises, passporting them to success wherever in the world they want to be.”

Olugbenga ‘GB’ Agboola, Founder and CEO of Flutterwave, said the partnership highlights the importance of a connected global economy. “With the growth of digital transactions opening up new markets and opportunities for global enterprises, merchants are looking for secure payment platforms in order to do business in these markets,” Agboola added: “Our partnership with FIS supports our goal to connect global businesses to African markets, and local merchants to the world.”

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