Federal Government Secures Agreement for Actors to Earn Royalties
With the newly-secured agreement with Developing Africa Group (DAG), Nigerian photographers, actors, and other creators, can now sell their registered Intellectual Property (IP) for royalties and...
With the newly-secured agreement with Developing Africa Group (DAG), Nigerian photographers, actors, and other creators, can now sell their registered Intellectual Property (IP) for royalties and proceeds.
Nigerian creators may finally be getting everything they deserve, as the Federal Government (FG) concluded a three-year exclusive Intellectual Property Right (IPR) with Developing Africa Group (DAG), a United Kingdom (UK)-based commercialization group.
This agreement would see Nigeria develop her official platform (like an e-Commerce) for people to upload any form of IP rights; sell or exchange them abroad, while collecting the royalties and proceeds on their digital wallets.
This writer understands that the newly-signed agreement covers trademarks, patents and all forms of copyrights such as songs, lyrics, videos, shows, lectures, podcasts and all forms of streamable content, created and registered within the country.
According to DAG Chief Executive Officer (CEO) Ben Oguntala, the IP platform would be built on the Algorand Blockchain which “provides the performance, scalability, security, and functionality required to implement such a large-scale project but is also environment-friendly.”
DAG, Oguntala said, also selected Koibanx, an Argentina-based software company, as the tokenisation and payments engine for the platform.
This development emerged two weeks after the Securities and Exchange Commission (SEC) released its long-awaited Digital Asset regulation that is meant to guide how digital assets such as cryptocurrencies are regulated in the country.
SEC published the new rules as part of its efforts to oversee how digital assets, such as Bitcoins and NFTs are managed and traded.
Titled “New Rules on Issuance, Offering Platforms, and Custody of Digital Assets”, the document covers five major items ranging from issuance of digital assets to rules that govern digital asset exchanges in the country.
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