Katungulu Mwendwa has deconstructed fashion and has a positive, defiant and edgy take on the environmental crises compounded by the global clothing industry.
A sleek saffron kaftan over Pollock-spattered silk trousers; the obsidian fins of a night-black evening dress; a sashed, punky, persimmon hoody from the future streets of Nairobi.These are the irresistible stories in Kenyan designer Katungulu Mwendwa’s startling KATUSH fashion brand label.
The child of a psychologist and an architect, Mwendwa grew up in a nurturing creative environment that introduced her to an eclectic skillset of creative tools.
“My dad used to take us to work with him,” she says.“We would actually draft a lot, as an experiment.In fashion, you have to create the pattern, the master bloc, and it requires a level of geometry to develop.
With the human form, you have to remove suppression at different angles, to create volumes and shapes.So working with my dad definitely made me more confident in that.
He did want me to be an architect.So now I’m like, ‘look! I’m an architect for clothing!’”
Emboldened by her triumph in the reality TV contest Catwalk Kenya in 2007, Mwendwa pursued her bachelor’s degree at the University for the Creative Arts in Rochester, United Kingdom.
“By the time I graduated, I had a better understanding of who and what the key players and roles were,” she says.
“I was determined to come back to Kenya to create a business that I could then offer not just to the local consumer, but to a global market.”
Her second major break came with an invitation to present at Gen Art’s ‘Fresh Faces in Fashion’ show at New York Fashion Week in 2012.She arrived “by myself with two suitcases, running around New York lost and confused,” after two sleepless months of frantic sewing.
“It was exciting, but extremely nerve-wracking,” she says.“I remember some people saying, ‘but your stuff doesn’t really look African…’ They were waiting for something with more color, with more prints, and I had this post-apocalyptic, nomadic thing going on! And I struggled with that at the beginning – the whole concept of being told I’m not African enough – and I used to wonder what that meant.These days, I’m like, no, that’s not my battle.
And now I’m designing what I like to make.”
She cites the essential impact of opportunities such as the HEVA investment fund, which supports entrepreneurship in the East African creative sector.
“I was very grateful to them,” she says, “for at least being patient and interested in those of us who would not necessarily get financial support, because we are considered such a high-risk business.” She now involves local artisanal groups, such as brass and aluminium casters, in her creative projects, and is sensitive to the challenges facing cottage industries whose traditional skills often lie outside the purview of a ruthless, churning, unpredictable industry.
“I’m curious about the evolution of culture, and practices and aesthetics relevant to our day-to-day lives,” she says (see her ‘Dinka Translation’ collection, which transfuses an ancient South Sudanese iconography into the clipped geometric lines of the boardroom or the cocktail party).“Retaining specific cultural practices, as opposed to copying and pasting, is critical in understanding how to manoeuvre through some of the challenges we face.”
She says that much more can and should be done to bring these local industries into the fold.“These artisans don’t have access to markets, and because they can be so detached from their direct consumer here in Nairobi, it becomes easier for someone to exploit them,” she says.
“I’ve always felt it’s the role of designers in the region to work closely with them, and then by extension, the market will create further demand.”
The edgy Afro-futurism of her work feels like a positive, defiant repost to the environmental crises compounded by the global clothing industry, a bloated leviathan which dumps almost two hundred tonnes of mitumba (second hand clothing) into East African markets every year.The Kenyan mitumba sector is a complex, controversial beast in its own right, creating millions of jobs while simultaneously suffocating regional productivity.
“Brands like myself cannot compete with clothing that is here for free,” Mwendwa says.
“There are a few designers creating upcycled clothing, which to me is extremely admirable.
But I don’t know how good it is for us as a people, because it limits our ability to compete on an equal level.It has killed our textile sector, our own industry, and therefore we aren’t even able to source locally.”
She is optimistic, but cautious, about the future; light on her feet about the direction she may pursue.
“I’m going to tell more stories.I want to better understand how to communicate with a consumer that feels the way I feel,” she says.“I know it’s probably a niche consumer, but I also know they exist, in different pockets of the globe.I think we’re all everyday superheroes: that person that brings you a cup of coffee in the morning, might just say hi, might just be a stranger who stopped and waited for you to cross the road.That’s what informs my collection.And I want to share that with people.”
By Alastair Hagger Kanye West Is Now Officially A Billionaire—And He Really Wants The World To Know
Published Forbes
After months of requests, the hip-hop superstar shared financial records, revealing details about his wildly popular Yeezy sneaker empire — and his fixation on outside validation.
When last we checked in with Kanye West, the mercurial hip-hop superstar-turned-footwear magnate, I was tiptoeing through a parking lot crop circle composed of hundreds of pairs of his Yeezy sneakers.“I’m not a numbers guy,” he explained ten months ago.
“To ask me to somehow translate this to numbers is to ask your grandmother exactly what the recipe of the cake was.”
There’s only one number that West cares about.
A billion, as in dollars.And he cares a lot .
When we featured West on the cover of Forbes last summer, delving into his incredible success with Yeezy, he seemed pleased at first.His world-famous wife, Kim Kardashian West, even tweeted her congratulations, to the positive affirmations of 32,300 of their closest Twitter friends.But without sufficient documentation on his unusual stake, versus just his word and industry guesstimates, we didn’t call him a billionaire.
And that grated on him.As the year wore on, he protested publicly .(“I showed them a $890 million receipt, and they still didn’t say ‘billionaire,’” he told an industry panel, about something that no one at Forbes remembers.) In private, he was more biting.(A “disrespectful article,” he texted this week, that was “purposely snubbing me.”) After months of requests, the hip-hop superstar shared his financial records, revealing details on his wildly popular Yeezy sneakers empire—and his own net worth.
JAMEL TOPPIN FOR FORBES
When our annual billionaires list appeared earlier this month, again with West absent—still no documentation, and now a pandemic to boot—West again reacted with hurt and venom.“You know what you’re doing,” he texted.“You’re toying with me and I’m not finna lye [sic] down and take it anymore in Jesus name.” At one point, he texted that Forbes was “purposely a part of a group of media” that was trying to suppress his self-made narrative because of his race.That sister-in-law Kylie Jenner did make the list also clearly stuck in his craw.
Then yesterday, a breakthrough: West directed his team to provide what we feel is an authentic numeric look into Kanye, Inc.
Three things became clear from this exercise.
First, it reinforces why we put him on the cover in the first place—West, in just a few years, has created a brand that’s challenging Nike’s Air Jordan for sneaker world supremacy.It’s one of the great retail stories of the century.
Second, it reinforced that West, who claims both in words and in this paperwork that he’s worth more than $3 billion, is as overly boastful as his political idol, President Donald Trump.Not a numbers guy? We agree.
Finally, and perhaps most critically to West, it does confirm, based on our estimates, that his stake in Yeezy indeed makes him a billionaire.A bit over $1 billion, actually.
In the process, we can now share more details about Yeezy than ever before revealed—as well as some insight into what drives this extremely creative, extremely enigmatic ten-digit artist.
Yeezy is a complicated asset.
West owns 100% of it.But it’s functionally tied, at least for five-plus years based on the documents we saw, to Adidas, which produces, markets and distributes the shoes.There’s also a separate apparel division that we don’t believe makes money.Last year, our sources projected the shoes would finish 2019 with revenue north of $1.5 billion (Adidas would not comment then, or now)—per recent conversations and internal documents, we believe the final revenue number ended up closer to $1.3 billion.
Our sources told us last year that West’s agreement calls for him to receive a royalty around 15% of Yeezy revenue from Adidas.Upon closer inspection, it appears some expenses are carved out of that slice, bringing his actual cut closer to 11%.At that rate, he would have received royalties of over $140 million from Yeezy sales last year.
West’s aggressive $3 billion self-appraisal is clearly based on the idea that the business is infinitely portable.It’s not.Taking Yeezy away from Adidas seems almost prohibitively cumbersome, if not contractually impossible.
A safer way to value it: as a royalty stream, like music publishing or film residuals.Multiples, based on services like Royalty Exchange or in large private transactions, can be as low as three for something faddish like Cardi B’s “Bodak Yellow” to 17 for an evergreen asset like the Eddie Murphy film Trading Places .
A handful of experts surveyed felt West’s interest would fetch a multiple somewhere in the middle of that range, were it ever made available to outside investors.
The convenience of the Adidas setup trumps publishing catalogs, where owners must actively collect payments from a complex web of sources—or outsource that labor to someone else in exchange for an administration fee.“His place in the capital stack is a preferred place to be,” says Royalty Exchange chief Matt Smith, who pegged the multiple at between 10 and 12.
Conservatively, as we typically are with such figures, a 10x multiple, applied to West’s Yeezy cut of $140 million, makes his stake worth about $1.4 billion.But that’s a private, highly illiquid $1.4 billion—our rule-of-thumb for private assets like that is to lop off at least 10%.That’s $1.26 billion.
A handful of experts surveyed felt West’s interest would fetch a multiple somewhere in the middle of that range, were it ever made available to outside investors.The convenience of the Adidas setup trumps publishing catalogs, where owners must actively collect payments from a complex web of sources—or outsource that labor to someone else in exchange for an administration fee.“His place in the capital stack is a preferred place to be,” says Royalty Exchange chief Matt Smith, who pegged the multiple at between 10 and 12.
Conservatively, as we typically are with such figures, a 10x multiple, applied to West’s Yeezy cut of $140 million, makes his stake worth about $1.4 billion.
But that’s a private, highly illiquid $1.4 billion—our rule-of-thumb for private assets like that is to lop off at least 10%.That’s $1.26 billion.
Customized real estate often sells for less than the money put in (buyers in that range tend to want their own features, versus Kanye’s Belgian plaster).If you want to start scraping, there’s $3,845,162 for “vehicles,” $297,050 for “livestocks.” Then there’s the matter of his music.Documents we reviewed show West’s G.O.O.D.
label—and his own recorded music and publishing rights—to be worth at least $90 million.
We tend to look at self-appraisals somewhat skeptically.Aside from the music, half of all this presumably belongs to his wife, although she’s no slouch and that math goes two ways.Given the illiquidity of these myriad assets and the lack of independent backup, we’re giving all of this a 50% haircut, leaving about $125 million in assets outside of his Yeezy crown jewel.Then, there’s debt: Between mortgages, advances and other liabilities, we saw about $100 million that West is on the hook for.
All told, our current net worth estimate for Kanye West: $1.3 billion, which he’ll be pleased to note is $300 million more than little sister Kylie.
The chip on West’s shoulder dates back to his early days growing up in Chicago, where teachers sometimes scolded him for sketching sneaker designs instead of doing his schoolwork.
He later produced songs for Jay-Z but felt the elder mogul didn’t view him seriously as a solo act.Over the past decade, West instigated more than his share of narcissistic episodes, including a self-appointed nickname, tour and album, Yeezus , that never seemed to treat his savior complex with much irony.(Typical song: “I Am A God.”)
When viewed through that lens, his famous affinity for President Trump makes a lot of sense.(And it continues unabated—one text to Forbes ’ chief content officer this week ended with “Trump 2020” and a raised fist emoji.) As does West’s net worth lobbying—an art practiced, with gusto, for decades, by Trump.
“It’s not a billion,” West texted us last night.“It’s $3.3 billion since no one at Forbes knows how to count.”
For years, Forbes had an informal “Trump rule” —take whatever the future president insisted he was worth, divide by 3, and start honing from there.Like mentor, like mentee.Welcome to the ten-digit club, Kanye.You may not like our number, but you’ve joined the highest company in that regard.
The $600 That Sparked A Telecom Trade: This Entrepreneur Represents Everything The Digital Age Stands For
Published
Tech entrepreneur Mandla Ngcobo dabbled in everything from poultry farming to selling airtime and electricity, until he found his niche in telecom – and his connections are growing.
Mandla Ngcobo represents everything the digital age stands for.
He’s young, happening and ubiquitous, with hopes and ambitions in every sector: from the poultry business to IT and everything in between.
Born in Newcastle, in South Africa’s KwaZulu-Natal province, Ngcobo is the founder of Accelerit Technologies that’s heading forth in the Information and Communications Technology (ICT) sector.
“Entrepreneurship is something that has always been around me,” he says resolutely, taking a sip of his drink, when we meet him at an upscale restaurant in Sandton, Johannesburg.
“My father was a taxi owner.My mother was unemployed but used to sell clothes and plait people’s hair from home.She was a firm believer that one must have multiple streams of revenue.My mother used to do whatever it took to put food on the table.”
This attribute made him resourceful too, as he saw it work.He was employed but was inspired to start his own business.
His job for six years at a global technology and consulting firm in Johannesburg exposed him to the inner workings of the ICT business.
The computer had been a loyal companion since high school.
In the mid-1990s, his brother bought him his first TV game console, then gave him his old Pentium One computer with 133 megabytes of data.
“I was fascinated by the fact that you could program a computer to do certain things,” says Ngcobo.
Graduating from the University of Cape Town in South Africa with a BSc in 2005, he wasn’t particularly passionate about theory, but was driven by formulae.
“I also did business as an elective because I was thinking about the trade.So, varsity was mostly about computers and business and that’s where it all began.”
Two years later, he ventured into the chicken feed business as his mother had started a chicken farm.
He ran the business for five years with a fair turnover and employing three.
“That money was able to pay for my car; I saw it had legs.I tried so many businesses; I even sold prepaid airtime and electricity around where I grew up.”
The chicken business didn’t take off but at least he was now lured into the art of making money.
In 2011, the 36-year-old serial entrepreneur registered Accelerit Technologies, a small and medium enterprise providing turnkey ICT solutions.He needed to have licences to run a telecom business to do business with other companies and consumers.
He was still an employee with the company he worked for, but time had come to go on his own.
“I had to be billable as a consultant, so I had to work.
There was a project I worked on that absolutely almost broke me; I didn’t enjoy it at all, so I was in a space knowing I didn’t have to do what I was doing.If I could dedicate a little bit of my time to pursue my own venture, I could make it work and that was it, I was done, and I resigned in 2013,” he says.
Having tasted entrepreneurship, he knew he could do it, but this time, he had to be fully present and committed.
“I sold my fancy white Audi TT car, and moved out of my lavish apartment in Sandton.I had to downgrade my life, I needed to bring it back to a level where I could manage my month’s expenditure and align with the fact that I was no longer an employee,” he says.
He shared office space but had a business address; it was time to get his first customer.
He set up a Wi-Fi base station at his sister’s house and sold vouchers; expanded to Greyhound Lines, an intercity bus carrier; then a student commune around the Johannesburg CBD, and within months, Ngcobo was turning over R10,000 ($617) a month.
“That made me feel chuffed,” he says.His sister was his first employee and two other friends soon were on his payroll.
“I was coming from a job that paid me R60,000 ($3,700) a month, and the R10,000 ($617) had me super excited.
I knew I never had to work [for someone else] a day in my life.If I put in 10 times the effort, then I would be making R100,000 ($6,168) a month and that is how the journey started.”
Business was growing and within 24 months, Ngcobo set up Wi-Fi base stations in estates around Midrand still using the voucher system; at the time, it was massive.
In early 2017, Accelerit Technologies moved to fiber optic technology delivering high-speed data.
“That made us very competitive; we went from north Johannesburg to providing services nationwide, turning over R900,000 ($55,512) at the end of the 2018 financial year.”
Currently, Ngcobo is projecting R30 million ($1.85 million) for the financial year 2020 and employs 20 full-time staff.
It’s big numbers and wired ambitions, but as always, he is sure he can make it work.Binance Spinoff Aims To Be Bitcoin-Powered Venmo Of Africa
Published Forbes Bundle CEO Yele Bademosi has a plan to connect the entire continent of Africa to global finance us bitcoin and other cryptocurrencies.BUNDLE / YUSUF
Yele Bademosi is passionate about helping his home continent of Africa.Born into a missionary home in Ibadan, Nigeria, Bademosi’s mother and father used to deliver medical services and bibles to the Yoruba tribes-people in the forests surrounding his home-town, often going from hut to hut.When he and his sisters were old enough, they helped.“That is my earliest memory in terms of thinking about how to give back,” he says, “But as I grew older, I changed my views to thinking about, how do you actually help people at scale?”
Last year, Bademosi became a director at the venture capital arm of the world’s largest cryptocurrency exchange Binance, which trades $1.5 billion in crypto assets each day.
And today he is excited because he’s launching Bundle, one of six African startups the Malta-based crypto exchange is now funding, and the first it launched.
The startup is being run by Africans in an effort to get Africans to use cryptocurrency, not as an investment vehicle, but as a global means of exchange.Bundle is essentially a social payments app, similar to Venmo or Square’s Cash App.
It lets users send, receive and spend bitcoin, ether, and Nigerian naira with little more than the recipient’s phone number.Unlike Square though, Bundle will also let users spend Binance coin (BNB), the exchange’s native cryptocurrency, which has been doled out to loyal and active traders using its crypto exchange.In the near future they’ll be able to spend and (more importantly) save Binance U.S.dollars (BUSD), stablecoins backed by U.S.dollars and regulated in the United States.
Bundle joins numerous tech giants working on ventures in Africa.
Facebook intends to co-launch a cryptocurrency targeting the unbanked and Square’s founder Jack Dorsey recently announced plans to immigrate to the continent.“Regardless of your geography, you should have access to the best financial services.And unfortunately, your geography today defines the quality of financial services that you have,” says Bademosi, who is also Bundle’s CEO.“The same way the internet created freedom of information, I think blockchains create freedom of quality of financial services.”
Born in 1991, the only boy among five sisters, Bademosi always knew entrepreneurship was in his future.
Perhaps rebelling from his bossy sisters, he knew he didn’t want to work for others.Bademosi’s first experience with a computer was at an internet cafe.As a child, he’d walk up a flight of stairs to the second floor of his local shopping center, push open a sliding door and frantically scan for cheat codes to his favorite computer games in 30-minute chunks, before his money ran out.
It wasn’t until 2007, when Bademosi was 16-years-old, that he finally got his first computer, an Acer Aspire One Series his parents got for him when he started classes at Lansdowne College, a preparatory school for University, similar to a high-school, in Westminster, England.For the first time, he had unlimited online access and an outlet to focus his burgeoning interests.By the time he graduated two years later, the 6’ 6” Bademosi had not only competed on the school’s football and basketball teams, but studied biology, chemistry, psychology and mathematics.“There’s a huge difference between what you learn in college in a structured environment and what you can learn online,” he says.
“It felt like what I imagined the Enlightenment period felt like for people who lived when the printing press was first available.”
Growing up in Nigeria, he says, meant that students who did well in school were pushed into the sciences.When his youngest sister decided to go into economics, or what he called “liberal-type accounting,” he was in shock.In spite of his entrepreneurial aspirations, he knew he would be expected to either to become a medical doctor like his father, an engineer or an architect.He hated physics though, so passed on engineering, and architecture was out because as he put it, “I couldn’t draw straight lines.” His father convinced him that even if he didn’t end up practicing medicine, the University of London’s accelerated three-year program meant he’d have extra time afterwards to find a path of his own, and he enrolled in 2009.
In his first year of medical school his father died of kidney-failure.
His father’s death gave him the courage to rebel.He had always found that he was more interested in computers than medicine so he dropped out of medical school with plans to build apps for Apple’s OS.After a few unsuccessful months building a social media app Bademosi flew back to Nigeria.Bademosi works in his company’s office.BINANCE / YUSUF
There he got a job as manager of Starta, devoted to helping African companies get off the ground by providing education, tools, and networking opportunities.After developing a taste for helping startups get off the ground, Bademosi founded his own angel investing firm called Mircotraction.His venture had well connected backers: Nigerian energy and real estate tycoon, Tunde Folawiyo; the CEO of Y-Combinator, Michael Siebel, and Google’s head of ecosystem for sub-Saharan Africa, Andy Volk.
Lagos-based Microtraction is now among the most active investors in Western Africa, having funded 15 companies, including 54gene, an African genomics research startup that recently attracted $15 million from Adjuvant Capital, Y-Combinator and others.
Bademosi had learned about bitcoin in college but it wasn’t until 2017 after he read a book called Master Switch by Columbia professor Tim Wu, that he began to see blockchain as a way to let networks of individuals compete against the likes of Facebook, Amazon, Google, and Apple using a shared technology infrastructure.“We’re not there yet,” he says.
‘But I believe that blockchain and decentralized technologies can open up the internet again, and create a new playing field that new entrants could play on.”
While the jump from medicine to blockchain may seem big , Bademosi sees them as strongly related.“The similarity really is the fact that you have individual organisms, whether that’s a cell or a human or a computer, acting in their own best interests towards what’s still a common goal, and there are a bunch of rules they all have to obey.”
Just a few months after founding Microtraction in August 2017, Bademosi bought his first bitcoin and as its price fluctuated wildly he became hooked on crypto asset investing.That led him to Binance, which was, founded in China, and is now doing business from Malta.In November 2018, Binance published a ten-point thesis on why it was dedicated to the continent and launched a subsidiary in Uganda.Number four on Binance’s list was Bademosi’s childhood mantra: scalability.
“For me, blockchains are as big as the internet,” says Bademosi.“And can you imagine Bill Gates or Larry Page or, Mark, Zuckerberg coming to Africa less than one year after the company was started?” He was impressed.So much so, that by January 2019, he had pitched his vision for what Binance should be doing in Africa and instead of taking him up on his advice, the company hired him, making him the first director at Binance Labs focused on investing in Africa-based blockchain startups and leading the Africa chapter of the organization’s incubation program.
So far Binance Labs has invested in five African startups, one from South Africa, one from Kenya, one from Ghana and three from Nigeria, all serving different aspects of the content’s growing crypto economy.Notably, Lagos-based Yellow Card is a way to buy bitcoin even without a bank via local agents, and Flutterwave is the same fiat-to-crypto bridge that lets Binance customers buy cryptocurrency with naira.
Bundle backend engineer Kenny Shittu (left) meets with blockchain engineer Oluchi Enebeli, user experience designer Ugo Ifezue, backend engineer Seyi Ajonibode and operations associate Chinny Eze at Bundle’s offices on March 9, 2020 BUNDLE / YUSUF
Binance and its new Bundle have Western competitors in Africa.Facebook’s Libra has its sights set on banking the unbanked.
Another potential competitor using cryptocurrency to serve the unbanked is Akon, the Senegalese-American musician whose Akoin project announced recently that it would be the exclusive currency of the Mwale Medical Technology City in Kenya.“Our goal is for akoin to be the official currency of the continent,” says Akon.
To give an idea of the total market up for grabs here, even if the average account holder might only own a fraction of what Western banks require to open an account, the World Bank estimates that 1.7 billion adults around the world are without such access.
Fifty-seven percent of adults in sub-Saharan African, or about 350 million people, don’t have bank accounts, according to the World Bank.To help close that gap nearly $700 million was invested in fintech in Africa last year, according to media firm WeeTracker.Of the 1.2 billion people living in Africa, Bademosi estimates only 1.4 million are already using crypto.
In two weeks Bundle expects to add BUSD, a stablecoin pegged to the U.S.dollar, created by blockchain startup Paxos, regulated by the New York Department of Financial Services, and spendable anywhere in the world.
One possible financial product that could eventually be offered using this technology would be what amounts to a savings account denominated in U.S.dollars for people living in Nigeria, and eventually other African nations.Instead of Nigerians losing 12% to inflation at current rates by keeping their cash in a savings account, they could be paid interest denominated in U.S.dollars for funds held in custody elsewhere.“Being able to save in stablecoins and earn interest per annum is huge,” says Bademosi.“And we can offer that up to anyone anywhere.”
Users will also be able to cash in and cash out using local fiat currencies.Longer term plans include a physical debit card and the ability to purchase U.S.stocks, Nigerian mutual funds and agriculture debt, and unspecified incentive programs designed to jumpstart the cryptocurrency economy in Africa, according to internal documents provided to Forbes .
The documents compare Bundle to Mosaic, the internet browser invented by Marc Andreessen, and credited for weaving together the previously esoteric processes required to use the internet into a single, intuitive browser.
In September 2019, Bundle quietly raised $450,000 from Binance, Pave Investments and other African investors.
“We believe Bundle can become one of the key projects that will support Binance’s mission of scaling the adoption of crypto on the continent,” says Binance CEO Changpeng Zhao (CZ).To help do that, Bundle will be free at launch, with plans to eventually charge 0.5% to 2% per transaction on all short term trades and 3% of assets under management on yearly gains, for longer-term investing.While the finer details of how that works have yet to be announced, we can look to Binance for some intriguing clues.
After creating BNB in July 2017, the asset has grown to a total market value of $2.2 billion, making it the eighth largest crypto-asset according to CoinMarketCap.com, the widely used cryptocurrency markets site Binance recently acquired for a reported $400 million.But it’s the way Binance uses that asset, which users acquire in exchange for making transactions on-site, that Bundle perhaps has the most to learn from.
Binance’s users are allowed to pay their fees on the site using the same BNB cryptocurrency they are rewarded for being regular users, and a new platform, called LaunchPad, lets users raise capital via initial coin offerings (ICOs) also payable in BNB, establishing what cryptocurrency news site CoinDesk called “a virtuous cycle by which its users were incentivized to stay within its platform.” Bademosi, it would seem, has learned his lessons well, a promising sign for the future.“Bundle does an excellent job of putting fiat and crypto side by side,” he says.
“And then nudging the user to use some of these digital currencies or assets in innovative ways.”.
