The country where everything is NFT

It doesn’t matter anymore if we like it or not, the Web3 revolution is not slowing down. What was recently a fantasy “what would happen if…” became reality. Nigeria just joined the program, where everything is now NFT.

Nigeria just joined a 3-year program to adopt Algorand, where there will be a platform for all citizens to buy and sell their intellectual property. It wasn’t a precedent, a year ago El-Salvador adopted Algorand’s technology to create a blockchain infrastructure for governmental data. Yet, Nigeria is a much bigger country with over 200 million citizens! That grants us to witness an enormous project where the whole nation will use wallets as a way of identification.

The biggest change will be noticed in the entertainment industry, which struggled with ownership of intellectual property and royalties for decades. While everything over the years was becoming fully digital, lawmakers around the world weren’t always as quick with adjustments, leaving in legal limbo a plethora of cases where artists were usually losing assets. Now everything — music, podcasts, videos, copyrights, and even streamable content — will be non-fungible tokens, ready to acquire and pass through the blockchain wallet, accessing the virtual market. And the royalties will always come back to the authors.

Nigeria is a country that push the technological boundaries for years, applying crypto solutions in more and more public sectors. But this implementation of a country-wide wallet is definitely a huge test, and which results will have a worldwide impact. It won’t take much time before other countries will at least need to consider solutions, that are already out there.