African Afrobeat star Davido has revealed that he is thinking of launching a bitcoin trading company. Davido revealed this information on twitter in a tweet that has generated massive buzz in the past few hours.
Davido is regarded as one of the top three biggest artistes in Africa and this is a massive endorsement for Bitcoin in the region. The Afrobeat crooner is no stranger to cryptocurrencies and recently signed an endorsement deal with crypto payment platform Bitsika.
This partnership could have spurred the afrobeat artiste to contemplate creating his own bitcoin trading platform. It should also be noted that Nigeria is the largest bitcoin market in Africa and has a major market for new crypto platforms.
It is a welcome development that Davido has recognized the impact of Bitcoin in global finance.
Cryptocurrency Gaining Recognition in the Music Industry
Cryptocurrencies have continued to gain a major foothold in the music industry globally. American artist Akon is well known for his popular crypto project Akoin that aims to build a smart city in Senegal, Africa.
US Rapper Soulja Boy recently revealed his wish to create a cryptocurrency which was endorsed by Cardano. This development suggests that cryptocurrencies could gain a major foothold in the multibillion-dollar music industry.
It will be interesting to see whether this spreads to major music platforms like itunes, spotify and audiomack. Will customers be able to pay subscriptions with cryptocurrencies? Only time will tell.