Last Updated on May 30, 2022
- Novajax is expanding its metaverse and NFT ecosystem into fashion.
- The US-based Web3 startup has acquired Jordan-based streetwear brand Jobedu in an undisclosed deal.
- The acquisition is part of Novajax’s goal of using blockchain technology to bridge the gap between the physical and digital worlds.
Jordan-based streetwear brand Jobedu has been acquired by the US Web3 startup Novajax in an undisclosed deal. The acquisition is part of Novajax’s grand plan to create a seamless bridge between the physical and digital worlds by leveraging the disruptive force of blockchain technology.
Founded in Amman, Jordan in 2007, Jobedu has grown to become one of the leading Arab pop culture lifestyle brands in the Middle East and North Africa (MENA) region. Jobedu fits well in Novajax’s goal of bridging the gap between the physical and virtual worlds by using blockchain technologies.
Commenting on the fashion brand’s endeavours, Tamer AlMasri, Cofounder of Jobedu said: “Jobedu’s journey started in 2007, at a street market, with 6 designs on 600 t-shirts. That path has led us here, to the stepping stones of the metaverse. NFT technology is just the tech solution we need to further empower Jobedu’s creative community collaborations.”
Incoming with the acquisition will be Ego’s Paradise, Novajax’s first PFP NFT project. The project is a collection of 10K PFPs hand-drawn by Tamer AlMasri.
The collection targets entrepreneurs, global shapers, dreamers and creatives of all kinds bringing them to one community where they can share advice, create connections and support one another in various endeavours.
NFTs have become one of the most relied-upon ways to empower creatives, IPs, and communities by creating a blockchain-based compensation and protection ecosystem.
Amer Ghanem, Cofounder of Novajax explained, “NFT technologies are developing rapidly with many traditional companies moving to the web3 ecosystem. Novajax is excited to onboard Jobedu to its family and bring exciting new tech to the MENA region and globally.”
On the other hand, Naif Mulaeb, Founder of Playhera and Novajax investor highlighted the potential use-cases of NFTs in fashion and gaming, adding “this is the beginning of a great endeavour. Leveraging the heritage of the beloved street fashion brand to Web3 will allow a greater range of creativity and innovation.”
Mulaeb thinks that NFTs form unique synergies with community fashion, thus creating a platform for a new age in the fashion industry that could be the next frontier for the industry.
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