#NFT. Pay attention. YouTube will make it possible for creators to monetize through NFT (non-fungible token) – a non-interchangeable unit of data stored on a blockchain.
“We’re also looking further ahead to the future and have been following everything happening in Web3 as a source of inspiration to continue innovating on YouTube. The past year in the world of crypto, nonfungible tokens (NFTs), and even decentralized autonomous organizations (DAOs) has highlighted a previously unimaginable opportunity to grow the connection between creators and their fans. We’re always focused on expanding the YouTube ecosystem to help creators capitalize on emerging technologies, including things like NFTs, while continuing to strengthen and enhance the experiences creators and fans have on YouTube.”
As that happens, Walmart, a US-based retail giant, has bought some companies to enable it to build a super app – an app which does largely everything, from payment to scheduling. Take a deeper look, you will notice a playbook here: control of demand. Yes, it is all about consolidation of demand which is a critical part of winning the 21st century digital market.
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According to the Wall Street Journal, retail giant Walmart announced that it will acquire two fintech startups including Even Responsible Finance, which Walmart already uses to offer its employees early wage access, and ONE Finance, a neobank.
According to Omer Ismail, chief executive of Walmart’s fintech unit and former head of Goldman Sachs’ Marcus business: “The strategy is to build a financial services super app, a single place for consumers to manage their money.”
I have made it clear that those who control demand will win the digital opportunities of this age. Controlling the unbounded and unconstrained supply does not offer the same level of leverages we used to see in the industrial age economic systems. Today, it is all about demand and what you do with it. With a super app, Walmart can make the lives of its customers revolve around it. And by doing it, it can capture more value from them.
Pay attention because winning the digital future will come via controlling demand, not supply. Watch this video.
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You can build to run, or build to sell, either way – market frictions are inexhaustible, and whenever there is shortage of problems, we create new ones, that’s how you keep economies going…