The Nigerian government has signed a 3-year intellectual property rights agreement, adopting blockchain company Algorand for the commercialization of IPRs (Intellectual Property Rights) created and registered within the country.

Around the world Intellectual property theft is often experienced and Nigeria is no exception. This agreement will allow Developing Africa Group (DAG) to develop a nationwide wallet, where Nigerians can create and upload their IPR(Intellectual Property Rights) and trade them locally and internationally for profits.

Proceeds from such transaction are referred to as royalties. Owners of intellectual property rights will receive their royalties directly in their digital wallet upon completion of transaction.

Any form of IPR including patent, trademarks, copyrights to songs, lyrics, videos, shows, lectures, podcasts, and all forms of streamable content can be uploaded, created, and traded.

There is no doubt that this agreement will facilitate an easy, fast, verifiable and cheap means of trading IPRs.


The Developing Africa Group announced its partnership with Koibanx as the official company to facilitate the integration of the nationwide wallet and the IPR tokenization.

Koibanx is an asset tokenization company that connects traditional regulated institutions like banks, non-banking financial institutions, insurance companies, and governments to crypto-financial capabilities through the Blockchain.

Koibanx the official partner for this project will set plans in motion for the smooth integration of the wallet and the payment token that will serve for as a means of payment for IPR transactions and a stable coin pegged to the Naira. Payments will be carried out using the inbuilt token.

Furthermore, Koibanx reiterated that parties in the agreement include a the global card issuing company, a content streaming platform, and top firms both in the legal and data mining industry, all of whose identity remain undisclosed.

This is  a great leap for Nigeria and Nigerians as the country continues to be at the forefront of technological advancement in blockchain and cryptocurrency despite unfavorable government regulations.

Featured image source: Watcher Guru

Portfolio Manager, Crypto Trader Who seeks to help individuals and organizations to manage their risk exposure based on their risk appetite, expected returns and market conditions. I hope to use my knowledge to educate people on how to make the best investment decisions in emerging markets and sectors.


  • Avatar
    May 26, 2022

    A good move for the country to adopt Algo. Algorand project is a prospective blockchain.

  • Avatar
    May 26, 2022

    Let’s see how this will go though ALGORAND chain is quite good, fast, not congested unlike that of SOLANA.

    The BUT in this whole thing is ALGORAND has a smaller community.

    I’d have suggested Nigeria picked POLYGON chain instead because POLYGON is the WEB 3.0 frontier but let’s see how it goes.

    An advantage of ALGORAND though is FIFA partnered with the chain so it’s still a nice move.

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