Nigerian artists seal crypto branding deals

The agreement will see the two music, alongside actors Bisola Aiyeola and Timini Egbuson and chef Gbubemi Fregene, represent the fintech company as brand influencers, helping to demystify the technology and increase the use of cryptocurrency and associated products in Nigeria. Founded in 2018, Quidax facilitates cryptocurrency exchange and currently boasts more than 400 000 customers.

Don Jazzy, who heads up the Mavin Records label, confirmed the news on Instagram on Wednesday, saying his decision to work with Quidax was informed by his desire to stay ahead of the pack. “If you get comfortable in one spot, then you'll become old-school,” the producer said.

Quidax co-founder and CEO Buchi Okoro said: “Don Jazzy has been such a great personality and is someone that I have looked up to for a long time. He has been able to build a record label when it seemed impossible. But the best part is that Don Jazzy is passionate about crypto and also owns crypto assets.”

“Quidax’s infrastructure is built by reputable and skilled Nigerians, and we have placed various layers of security authentication around our network, in order to fortify it and to protect customers’ savings.”

Don Jazzy and MI Abaga have been associated with crypto brands in recent years. Last year, Don Jazzy revealed that he made $300 000 in 10 minutes from trading in non-fungible tokens (NFTs), while in November 2021, blockchain start-up Vault Hill named rapper MI Abaga as its creative director.

Many believe that blockchain technology, which is used in cryptocurrencies and NFTs, is the future for generating new revenue streams for the music industry, with many artists lauding the security it provides while eliminating middlemen.

Nigerian singers including Oxlade, Bnxn and Rema are all due to release NFT collections. Last year, NFT and digital collectables marketplace Binance announced rapper Falz in its 100 Creators programme, to promote creatives from around the world and showcase NFT pieces across different cultures.