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Nigerian Mobility Startup Moove, Secures $76 Million for Global Expansion

By
Ojukwu Emmanuel
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0

Moove, a Nigerian mobility startup that provides vehicle financing to drivers of ride-hailing platforms like Uber and Bolt, has secured $76 million in new funding to expand globally.

The funding round was led by Mubadala Investment Company, $10m venture debt from funds and accounts managed by BlackRock, and $38 million in a previously undisclosed fund raised during the prior twelve months.

Moove disclosed that it will use the funds raised to continue its mission to build the largest tech-driven financial services platform for mobility entrepreneurs and strengthen its position on the global stage.

Speaking on the funds raised, Moove Co-Founder Ladi Delano said,

“We are excited to be partnering with Mubadala and BlackRock to double down on our already profitable markets including the UAE, India, Uk, and South Africa, as well as continuing to invest in our customer experience and accelerate our product development to deliver group-wide profitability within the next 12 months.

“With this investment, we will now accelerate our mission and continue creating life-changing opportunities for our customers while working towards profitability, It gives us great pride in seeing our customers build a better life for themselves and their families, and this funding will allow us to offer this chance to more entrepreneurs.”

Launched in 2020 to assist African mobility entrepreneurs in obtaining vehicle financing, Moove since its inception has experienced significant revenue growth.

The mobility company was founded in response to the challenge faced by over 2 million African mobility entrepreneurs, which is the lack of access to vehicle financing. Moove was initially built to solve this problem in Lagos, but has since expanded to 6 cities across Africa.

The company is now taking its revenue-based financing model globally to serve the millions of mobility entrepreneurs in emerging markets around the world who have limited or no access to a vehicle or vehicle financing,

Key features of Moove include:

  1. Vehicle Subscription: Moove offers vehicle subscription services that allow individuals to access vehicles without the upfront costs associated with traditional vehicle ownership. This is particularly beneficial for rideshare drivers and those who need a vehicle for their livelihoods.
  2. Flexible Payments: The startup provides flexible payment options, making it easier for drivers to afford the vehicles they use for ridesharing or personal transportation. This can include installment plans and tailored payment schedules.
  3. Maintenance and Support: Moove often includes maintenance and support services as part of their offerings, ensuring that drivers have access to well-maintained vehicles and assistance when needed.
  4. Rideshare Integration: Moove’s services are often targeted at rideshare platforms, allowing drivers to access vehicles specifically suited for their work as rideshare partners.
  5. Technological Integration: The company typically integrates technology into its services, such as apps or online platforms, to streamline the vehicle subscription process and provide support to drivers.

Notably, Moove is Uber’s largest vehicle financing partner in EMEA, and already operates the largest EV fleet by supply hours on the Uber platform in the UAE, despite launching only four months ago.

The company is backed by investors from around the world which include, KORA, Phoenix Court Group, Speedinvest, Africinvest, FJ Labs, Palm Drive Capital, Tekton Ventures, and MUFG Innovation Partners.

Moove has a vision to build the largest integrated vehicle financing platform for mobility entrepreneurs using technology and future productivity, with a mission to drive productivity and success for the world’s mobility entrepreneurs by democratizing access to vehicle ownership.

Apecoin (APE) And Fantom (FTM) Falls While Pomerdoge (POMD) Presale Gets Off to a Perfect Start

By
TI Partners
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0

While established coins such as Apecoin and Fantom are experiencing falls, the Pomerdoge presale has seen millions of tokens sold in the last few days. Analysts predict a 50X return for those who have been able to invest in the presale. But what is Pomerdoge and how is it outperforming industry mainstays? Let’s find out.

Pomerdoge (POMD): The Memecoin Outshining Apecoin (APE) And Fantom (FTM)

Pomerdoge is a cryptocurrency project that is capturing attention by combining the charm of meme culture with tangible utility. The blend of a play-to-earn (P2E) game, a marketplace for in-game assets (Pomerplace), and an engaging meme token set the stage for a multifaceted ecosystem.

Unlike many meme tokens that rely solely on meme appeal, Pomerdoge is developing a P2E game that offers players a chance to compete and earn rewards. This adds a tangible value proposition to the token and encourages community engagement.

The Pomerplace is a unique addition that facilitates the buying, selling, or trading of in-game assets. This marketplace not only enriches the gameplay but creates an additional revenue stream for players.

The POMD token is not just a meme; it’s an essential component of the Pomerdoge ecosystem. Whether it’s making purchases within the Pomerplace or unlocking special rewards, POMD offers real utility.

Those looking to join the Pomerdoge universe can buy POMD at a discounted rate of $0.007 during Phase 1 of the presale. With the price set to rise in future phases, early participation should offer a significant advantage.

Market analysts see potential in Pomerdoge, drawing comparisons to Dogecoin’s success. A price target of $1.00 by 2024 reflects confidence in Pomerdoge’s growth trajectory.

Apecoin (APE): Struggling to Find Support

Serving as a versatile utility token, Apecoin grants users access to a plethora of offerings from Yuga Labs. This versatility garnered significant attention and propelled the Apecoin price from $0 to $34 in a matter of weeks in 2021.

Yet, the tides have shifted for Apecoin. Currently, Apecoin is valued at a modest $1.87 after dropping 95% from its peak. The past week alone has witnessed a 4% decline in its price.

Market experts note that the poor performance of the BAYC NFTs from Yuba Labs is also dragging down the Apecoin price. These NFTs once had a floor price of 128 ETH, yet now they are being sold for only 29 ETH a piece.

With Apecoin now under the $2.00 support, holders are switching over to Pomerdoge in order to take advantage of its presale. The phase-1 prices of $0.007 are particularly attractive with analysts predicting $1.00 for the POMD token within 3 years.

Fantom (FTM): A Deep Dive into Declining User Engagement

Distinctive in the world of distributed ledgers, Fantom distinguishes itself by leveraging Directed Acyclic Graph (DAG) technology. This innovative approach fast-tracked Fantom to a notable market cap surpassing $1 billion in its debut year.

In 2022, Fantom’s Total Value Locked (TVL) soared, touching a peak of $7.58 billion. This uptick was largely supported by various decentralized exchange protocols bolstering the asset’s trade volume. Yet, Fantom’s TVL has shrunk by 99% to a mere $64 million, underscoring a decreasing active user engagement.

The plunge can be primarily traced back to a devastating security breach on the Multichain’s Fantom bridge, where malefactors made away with over $125 million. Given that Multichain was pivotal to the Fantom ecosystem, this debacle has naturally had a domino effect and eroded user trust.

Analysts are treading carefully when it comes to predicting Fantom’s trajectory, especially considering its recent dip below the pivotal $0.30 threshold. While the prevailing sentiment hints at a potential floor of $0.20 for Fantom, it’s incumbent upon the project’s leadership to restore faith and re-energize its community to reclaim its earlier vibrancy.

Find out more about the Pomerdoge (POMD) Presale Today

Website: https://pomerdoge.com/

Telegram Community: https://t.me/pomerdoge

Blue-Chip Cryptocurrencies to Buy for Long-Term Growth Polkadot, Cardano and Everlodge

By
TI Partners
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0

Blue-chip cryptocurrencies have been appealing to many investors as historically they have provided the most significant value. Out of the thousands of altcoins available, on-chain data suggests that the strongest long-term growth can be reached with Polkadot (DOT), Cardano (ADA), and Everlodge (ELDG). As crypto bulls diversify their holdings with these altcoins, we will jump into their on-chart data to see how far they can climb.

Summary

  • The Polkadot crypto can reach $6.64 by the end of the year
  • The Cardano price can surge to $0.39 by the end of 2023
  • Everlodge can spike by 280% during the presale and by 30x at launch

Click Here To Find Out More About The Everlodge Presale

Polkadot (DOT) Price Prediction

According to the on-chart data surrounding the Polkadot (DOT) cryptocurrency, it could soon see a massive increase in its value. Crypto whales have begun accumulating the Polkadot crypto, especially as it now trades at just $5.13. The Polkadot crypto’s market capitalization is currently at $6,205,137,615.

Moreover, in the past 24 hours, its trading volume decreased by 15.65% and is now at $105,751,633. This signifies that more investors are keeping their Polkadot balance. In addition, there is currently a circulating supply of 1,211,115,351 DOT.

In addition, according to the Polkadot price prediction made by analysts familiar with the market movements, the cryptocurrency can reach $6.64 by the end of the year.

Cardano (ADA) Price Momentum

Cardano (ADA) entered August with high expectations as investors and traders began accumulating the cryptocurrency. Just by looking at the monthly charts, analysts can see that the bulls did a solid job subduing the bears.

Within the past month, the Cardano price experienced the worst lows but made up for this by increasing massively in value on July 6. The Cardano crypto then experienced a price increase of 23.85% on July 13 and closed at $0.35.

Consequently, as of August 2, 2023, Cardano trades at $0.304984, and the overall price increase within the past 30 days has been by 4.5%. Its market cap is $10,685,178,433, and its trading volume is $194,266,474. According to a Cardano price prediction, it can surge to $0.39 by the end of the year.

Everlodge (ELDG) To Surge by 280%

Everlodge is a proprietary marketplace that allows users to invest fractionally in hotels, vacation homes, and luxury villas on top of the blockchain.

Traditionally, it has been difficult for the average person to get into the industry as it requires a lot of upfront capital. But with as little as $100, anyone can make a fractional investment in a home worth $1,000,000 through Everlodge.

The smart contract features data about the title, deeds, and ownership. The NFT then gets split into smaller fragments through a process known as fractionalization, and users can choose how much of them they want to buy based on their financial situation.

If the property bought increases in value by 20%, for example, each fraction of the NFT will also increase. There will be a dedicated marketplace where investors can generate passive income through co-ownership and a launchpad, allowing them early access to projects.

The native token powering all of this is ELDG. Through it, holders can access discounts on property purchases in the marketplace. They can also use the token as a payment currency and pay maintenance fees through it.

During the early stages of the presale, it has an initial price of $0.01. However, analysts expect that it can surge in value by 280% during the presale and by 30x upon its launch.

Subsequently, its team has undergone KYC, and the tokens will be locked for two years, while the liquidity pool will be locked for 8. Everlodge is a potential blue-chip token that can provide long-term growth for early investors.

Find out more about the Everlodge (ELDG) Presale Today

Website: http://www.everlodge.io/

Telegram: https://t.me/everlodge

The True Representation Of How Terribly Bad Things Are At The Moment In Nigeria

By
Stanley Alieke
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6

Mr Jason Njoku, the Iroko Tv boss wrote: “Nigeria Twitter vs Actual Nigeria is surreal. The reality feels so different to being on the ground. The middle & working classes are suffering. Everywhere is empty. Restaurants, hotels, and roads are deserted. Consumption has definitely collapsed. You can see it clearly in Fast Moving Consumer Goods (FMCG). Maybe I’m just a hater though”. 

In response to this tweet, Sandra Ezekwesili, the radio host with Nigerian info wrote; “I’m on air every day talking to Lagosians. At least a million people listen to my program, Hard Facts. This tweet doesn’t even begin to cover the reality on the ground currently in Nigeria”.

There is no post that has ever resonated with me and resonated with me and with millions of Nigerians more strongly than this post;  Things are terribly bad at the moment in Nigeria. It has never been this bad.

Unfortunately, if you scroll through social media, especially Twitter and Instagram you may think that everything is normal and everyone is doing fine in Nigeria. This is the handiwork of some paid media aides of the ruling government or those whose job is to constantly defend the ruling government.

Take it from me that people are suffering since this government came into power; people barely feed themselves two square meals a day; consumer products no longer move because of the fall of the purchasing power of the Nigerian consumer and to make things worse the prices of the consumer goods have experienced an astronomical increase in price.

I was in Lagos last week and there were just a few cars on the road. I can count the number of vehicles that were driving on the road. Coincidentally, I flew into Lagos by 6 pm which is always the peak period of traffic jams but there was an unusual free flow of traffic. I asked my driver and he told me that it has been like this since fuel prices increased, people can no longer afford to fuel their cars and go around for their daily hustles. In fact a car dealer I know told me that car owners have been bringing their cars to sell in his car stand recently because the owners can no longer afford the maintenance cost of the cars.

My parents, family members and relatives call me every day from home to make demands and complaints. My Aunty broke down crying the other day while speaking with me over the phone and narrating how bad things have been since Tinubu entered power. Callers on radio programs do break down crying as well while speaking and narrating how bad things have been on air.

Companies are leaving Nigeria due to the high exchange rate of the dollar to naira. As companies pack up their bags and leave,  workers of those companies become jobless; some of the companies I know that are still in operation are dropping some of their staff due to the fact that they can no longer afford to pay their salaries.

For those that do not live in Nigeria and for those that are yet to have a feel of the reality, take it from me, things are extremely bad in Nigeria at the moment. People are hungry; the economic situation has never been this bad. Everybody seems to be overwhelmed. Even those that voted for Tinubu are not having it easy either.

This is not a political post nor is it a blame post but a true representation of fact as to how bad things are currently in Nigeria, forget about the tweets you see, most of those tweeting those lies are paid political jobbers.

Coinbase’s Base Mainnet Officially Opens to the Public

By
Paul Ugbede Godwin
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0

Coinbase, one of the leading cryptocurrency exchanges in the world, has announced that its Base Mainnet is now open to the public. The Base Mainnet is a layer-2 scaling solution that aims to improve the speed, security and scalability of Ethereum transactions. The Base Mainnet leverages zero-knowledge proofs, a cryptographic technique that allows users to verify transactions without revealing any sensitive information. By using this technology, the Base Mainnet can process thousands of transactions per second, while reducing gas fees and congestion on the Ethereum network.

Base Network is a decentralized platform that aims to provide a secure and scalable solution for the Internet of Things (IoT). Base Network is built on a novel consensus mechanism called Proof-of-Interaction (PoI), which leverages the interactions between IoT devices to achieve consensus. PoI is designed to be lightweight, energy-efficient, and resilient to attacks. PoI also enables Base Network to support a large number of IoT devices without compromising performance or security.

Base Network consists of three layers: the Base Layer, the Service Layer, and the Application Layer. The Base Layer is responsible for maintaining the PoI consensus and the ledger of transactions. The Service Layer provides various services for IoT applications, such as identity management, data storage, and smart contracts. The Application Layer is where developers can build and deploy their own IoT applications using the Base Network SDK.

Base Network aims to create a decentralized and interoperable IoT ecosystem that can support various use cases, such as smart cities, smart homes, smart agriculture, and smart healthcare. By using Base Network, IoT devices can communicate and collaborate with each other in a trustless and efficient way, without relying on centralized intermediaries or gateways.

Coinbase has been developing the Base Mainnet since 2019, in collaboration with StarkWare, a company that specializes in zero-knowledge proofs. The Base Mainnet was initially launched in beta mode in March 2021, and has been tested by over 100,000 users and 200 developers.

According to Coinbase, the Base Mainnet is compatible with any Ethereum wallet and smart contract, and supports ERC-20 tokens, NFTs and stablecoins. Users can easily transfer their assets from Ethereum to the Base Mainnet and vice versa, using Coinbase’s bridge service.

Coinbase also stated that the Base Mainnet is fully decentralized and permissionless, meaning that anyone can join the network and run a node. The Base Mainnet uses a proof-of-stake consensus mechanism, where validators stake their tokens to secure the network and earn rewards.

Coinbase’s Base Mainnet is expected to boost the adoption and innovation of Ethereum-based applications, especially in the fields of decentralized finance (DeFi), gaming and social media. Coinbase said that it will continue to work with StarkWare and other partners to improve the performance and features of the Base Mainnet, and to integrate it with other platforms and services.

Coinbase’s Base Mainnet is a major milestone for the cryptocurrency industry, as it demonstrates the potential of layer-2 solutions to enhance the user experience and scalability of blockchain networks. Coinbase invites all users and developers to try out the Base Mainnet and provide feedback on its website.

The announcement of the base network has been met with positive reactions from both investors and customers, as Coinbase shares have surged by 15% in the past week. The company’s market capitalization has reached $120 billion, making it one of the most valuable fintech firms in the world. Coinbase’s CEO, Brian Armstrong, said that the base network will be a game-changer for the crypto industry, as it will offer a more scalable and secure solution for millions of users.

Coinbase’s base network will also support various decentralized applications (Dapps) and smart contracts, which will enable new use cases and innovations in the crypto space. The company has already partnered with several leading Dapps developers, such as Uniswap, Compound, and Aave, to integrate their services on the base network. Coinbase’s base network will also be compatible with other major blockchains, such as Ethereum and Bitcoin, allowing users to seamlessly transfer their assets across different platforms.

Coinbase’s base network announcement is a clear sign of the company’s ambition and vision to become the leading provider of crypto services in the world. The company has been investing heavily in research and development, as well as expanding its global presence and regulatory compliance. Coinbase’s base network will not only benefit its existing users, but also attract new ones who are looking for a more efficient and user-friendly way to access the crypto market.

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