Popular Nigerian artist Teni is planning to release her next album as a non-fungible token (NFT), making it a first of its kind on the continent. This is according to Cassava Network, a pan-African NFT marketplace.

The musician cum songwriter, whose real name is Teniola Apata, will be following into the footsteps of fellow entertainers BNXN, Damola Adepoju, and Zina Saro-Wiwa who are minting money via NFTs.

Cassava Network is planning a takeover of Africa’s Web3 Industry. It aims to capitalize on the continent’s NFT industry growth. It believes Teni’s music launch will give it a much needed augmentation.

The startup raised $8 million last May to extend its tentacles and offer blockchain-related products and services in Africa. Founded in 2021, it currently boasts over 300,000 users across different markets globally. It’s on track to hit over 500,000 users by mid-2023.

Mouloukou Sanoh, the co-founder of Cassava Network, told Nodo News that the platform has been optimized for Africans to trade NFTs from wherever they are in the world.

The name of the company borrows from West Africa’s staple food, cassava – a rich but affordable source of carbohydrates. “It’s in the same way that we want to be a staple in the Web3 world,” Sanoh said.

The 26-year-old founder has a background in investment banking and has worked in the private equity space. His skills lend to his work as an investment manager at Adaverse, running Mansa Capital and growing the NFT market through Cassava Network.

The company’s main target is to grow through mass user adoption through various channels such as entertainment, e-Sport, and lifestyle.

NFTs, Music, and Entertainment: The Meeting Point

With about 30 partners, Sanoh confirmed that the company has access to over 300 million users in Africa. These entities include music streaming platforms, artists, and e-Sport leagues. Cassava Network users, Sanoh says, will earn tokens as they interact with products and services from these partners.

In its partnership with African music streaming service Boomplay, for instance, it will be tapping into the firm’s popularity to grow across borders. Boomplay has over 50 million monthly active users in Africa and a music catalog of over 70 million tracks.

“We will work with them to help them create NFT-minded artists and help them with all the metaverse activities,” Sanoh said. “The goal is to eventually work with these artists and help them create NFTs for concert tickets and albums.”

On e-Sport, the firm has partnered with Carry1st, the largest game publisher in Africa, to extend its token reward scheme to gamers.

“We started Africa’s first e-Sports league. Essentially, we have partnerships with all the guilds in Nigeria, Kenya, South Africa, and Uganda. It’s going to be like a Champions League, where people have countrywide tournaments and regional tournaments and then a final,” he stated.

The startup plans to launch partnerships in the entertainment and fashion industry as it continues on its mission of onboarding Africans into Web3.

Cassava Network remains optimistic about the prospects of digital tokens in Africa. Its goal is to build the largest community of Web3 users in Africa.

This story has been updated to reflect the correct mission of Cassava Network

– Edited by Faustine Ngila