This industry saw millions of Nigerian youths trading in cryptocurrency and stocks, using various apps and online platforms.
Some online platforms such as qz.com and financialnigeria.com, reported that Nigeria was ranked the country with the second-largest bitcoin trading market in 2020. In 2021, the country has continued to maintain its position.
While bitcoin experienced a boom in Nigeria, the Nigerian stock market was not left out of this new flare for trading. Bloomberg.com and Nairametrics.com, in separate reports, stated that the Nigerian stock market was actually ranked the world’s best-performing stock market in 2020.
Leveraging the trend in online trading, Emuut.com is creating an unprecedented opportunity in Nigeria’s reality TV show landscape.
Speaking on the initiative, Mr. Macmicheal Nwaiwu, Chief Strategy Officer of Emuut Technologies, said: “We are just giving Nigerians an opportunity to do what they already love to do.
“However, Emuut.com is in a class of its own as it neither trades in stocks nor cryptocurrencies. It simply trades in digital representation of the contestants in popular reality TV shows. Emuut.com calls this digital representation emps.”
He, however, noted that the emps are not cryptocurrency as there is no cryptography or mining involved. “Emps cannot be transferred out of the platform or used for anything other than trading on Emuut.com,” he explained.
Also commenting on the novel initiative, Mr. Ehizokhale Asibor, C.E.O of Emuut Technologies, described emps as tomatoes.
His words: “You buy them when they are cheap and sell them off as soon as the price appreciates. You do not want to hang on to them for too long, because the tomatoes (or emps) can go bad really quick! When a contestant is eliminated from the show, it is analogous to a rotten tomato with no value.”
An video that explains what the platform does is available on the homepage of the website. Fans of various TV shows such as The Voice Nigeria can buy emps of their favorite contestants when prices are low and when these prices appreciate, they can sell off at a profit.
In a similar vein, Mr. Lanre Smith, the C.O.O of the company, said: “Emuut Technologies is innovation wrapped in a bottle. What we are doing has never been done anywhere in the world. For the first time ever, we are enabling the entire public to cash out from every reality TV show.”
“It’s no longer only the show contestants, show owners, or TV station owners that can cash out from successful TV shows. Every Nigerian and everyone in the world at large can now make money from just trading TV shows contestants in exactly the same way you will buy and sell any other thing.”
Currently, Emuut.com is partnering with The Voice Nigeria, and people are already trading the contestants actively. It appears this is going to be the next big thing in Nigeria.
*This is a featured post.