A decision by a Delaware judge late Tuesday afternoon has multibillion-dollar implications regarding Musk’s fortune.



Elon Musk ceded the title of world’s richest person to Frenchman Bernard Arnault of luxury conglomerate LVMH Tuesday evening, after a&nbsp;<a href="https://www.forbes.com/sites/antoniopequenoiv/2024/01/30/judge-voids-elon-musks-56-billion-pay-package-from-tesla/?sh=7ee4eb102756">Delaware judge</a>&nbsp;voided a hefty package of performance-based Tesla options&nbsp;<a href="https://www.forbes.com/sites/sergeiklebnikov/2021/05/06/elon-musk-made-billions-in-2020-every-other-ceo-made-millions/?sh=39b88bdd6f93">awarded to Musk in 2018</a>. Those shares had been worth more than $50 billion.&nbsp;Forbes&nbsp;estimates that Musk is now worth $184.5 billion. He now trails Arnault (estimated net worth: $210.8 billion) but remains ahead of the world’s third richest person, Amazon’s Jeff Bezos ($179 billion).



In her ruling, Delaware judge Kathaleen McCormick determined that Musk and his co-defendants, Tesla and certain of its board members, failed to prove that the process underlying the award of “the largest potential compensation opportunity ever observed in public markets” was fair due to conflicts of interest and Musk’s “control” over the board. Musk’s options were worth $50.9 billion (net of exercise cost) at Tuesday’s stock market close. Because of the ruling, he won’t be able to exercise or sell them. Given the high level of uncertainty about what comes next–including an appeal of the ruling,&nbsp;Forbes&nbsp;has discounted Musk’s options by 50%, enough to knock his net worth down by $25.5 billion after the decision.



“[The ruling] will certainly be appealed and there is some chance of reversal or a different remedy,” says UCLA law professor Jim Park. “Chancellor McCormick is well regarded and known as careful, so I think there’s a good chance her decision will get some deference from the Delaware Supreme Court. On the other hand, perhaps the Supreme Court will worry that the decision will send a negative message to the business community and will thus reduce the award.”



There is also the possibility that Tesla could just grant Musk another pay package with a more rigorous process designed to withstand legal scrutiny. After all, Tesla shareholders, whose stock has appreciated more than sevenfold since 2018, haven’t exactly celebrated the decision by the Delaware court. Shares of Tesla were trading down 0.8% at 2:30 p.m. eastern time on Wednesday.



“If the pay package is struck down, Musk will demand another — and he&#8217;ll get it,” says Michigan law professor Adam Pritchard. “But [it’s] very hard to say how different that would be from this package.”



Musk had been clamoring for even more Tesla shares prior to the Delaware decision. In an X post on January 15 he wrote, “I am uncomfortable growing Tesla to be a leader in AI &amp; robotics without having ~25% voting control.” If upheld on appeal, the judge&#8217;s decision to void Musk&#8217;s options pay package would drop his stake in Tesla from 22% to 13%.

GERMANY-AUTOMOBILE-TESLA-MUSK

Elon Musk No Longer World’s Richest After Judge Voids $51 Billion Pay Package

<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
&#8220;The forum offers a delightful vacation on the expense account.” – Quote: unknown, 1981.
</blockquote>



Perhaps true but entertaining, nevertheless.



Let’s plod on.



Davos 2023: the word &#8216;polycrisis&#8217; was on everybody&#8217;s lips as leaders deliberated the cascading crises of the moment.



Attitudes have now hardened further. New and old conflicts have flared up, deepening the schisms between and inside countries and communities.



Flashpoints galore as anger levels reach a crescendo.



Will the year ahead therefore be a period of &#8216;permacrisis&#8217;?



Into this valley of hope,



Davos and it’s ski slope,



Rode the few of us resolute,



In quest for something absolute.



Will the leap year be a time for: ‘Rebuilding Trust’?



Whose trust and whose future though? A preponderance of received wisdom laced with dominant Anglo-Saxon paradigms interspersed with voices from the South can’t cut it.



Did I finally detect fear?



Not greed. Not guilt. Not anger.



A lurking suspicion permeating across I thought.



That the hubris and the presumptions that have dominated the world post World War 2 was not forever.



Alternative axes of powers throwing new arcs of hope to the impoverished and unrepresented.



I listened to President Emmanuel Macron talking of “de-risking, not decoupling”. A tacit admission that the East and the South cannot be ignored.



Heard European Commission President Ursula Gertrud von der Leyen speak on the need for solidarity and announcing how “Russia is militarily, diplomatically and technologically isolated and wholly dependent on China”; while news suggests it is perhaps not yet.



Even the mighty United States until today imports a fifth of its enriched uranium from Russia.



At the BRICS panel discussion, erudite ministers from India, the United Arab Emirates and South Africa extolled the virtues of choices in a fickle world of geopolitics. Unity in diversity to manage the common challenges of poverty, climate and health, among others. President Xi Jinping said: “China’s economy is like the Swiss Alps, undulating with peaks and troughs.”



To appreciate the Alps, you need to zoom out and admire from afar.



Same with China.



Broaden your vision and see what it exudes and promises. Profound!



What is then the true test of multilateralism? To smaller countries, it’s about protection. For the powerful, a litmus test to fulfil their obligations. For the international community, it’s how to monitor and create balanced priorities. Davos 2024 aimed to restore collective agency, and reinforce the fundamental principles of transparency, consistency, and accountability.



The goal ostensibly is to back a spirit of open and constructive dialogue to help connect the dots in an increasingly complex and fractured environment.



Déjà vu.



Why now this cry from the developed world?



An attempt to remain on the saddle and lure back the disenchanted who has flown?



My conclusion is simple.



A truly multipolar world based on trade, choices, efficiencies and fair negotiations is well underway.



And therein lies hope and salvation.



President Paul Kagame of Rwanda and President Nana Akufo-Addo of Ghana, together with UNDP, launched Timbuktoo, a startup fund with an initial $1 billion target to leverage Africa&#8217;s youth and dynamism.



An ingenious name.



Timbuktu has long been used to describe long, difficult journeys.



A boulevard of broken dreams for European explorers of the past who tried to reach it.



As masters of our own destiny, we in Africa will succeed through new partners and along with the old that still remains good.



Insanity is when you keep trying the same thing and expect different results.



We don’t have the time for that.



And indeed, as they say: You get what you negotiate. Not what you deserve.



Davos told me we have room to dream and space to maneuver.



Most of all, we have choices now to make.



As the world needs us as much as we need them.



A ‘win-win’ finally.



So, let’s seek that perfect world of collaboration focused on global extension and not its extinction.

Day Three Of The World Economic Forum (WEF) 2024

View From The Alps: Davos 2024 A Bugle Call For Multilateralism

Metaverse Concept in the real city,  Futuristic digital design for Smart city and technology in the future

Exposing The Myth Of Decentralization

The Middle East kingdom is on massive building spree—creating private islands, luxury hotels, theme parks, cruise ports, even a desert ski resort. The question remains: If they build it, who will come? 



Whatever your preconceived notion of Saudi Arabia as a travel destination is, it’s about to be get a major renovation. Imagine Sindalah, for example, a&nbsp;<a href="https://www.vision2030.gov.sa/en/projects/sindalah/" target="_blank" rel="noreferrer noopener">7-star private-island resort</a>&nbsp;with three ultra-luxe resorts, 38 high-end restaurants and multiple superyacht marinas. Or Qiddiya, a&nbsp;<a href="https://www.vision2030.gov.sa/en/projects/qiddiya/" target="_blank" rel="noreferrer noopener">futuristic city</a>&nbsp;of 600,000 people rising from the desert floor, dedicated to e-sports and gaming. How about Trojena, a space-age&nbsp;<a href="https://www.vision2030.gov.sa/en/projects/trojena/" target="_blank" rel="noreferrer noopener">ski resort</a>&nbsp;built above the high desert? Or The Red Sea, a&nbsp;<a href="https://www.vision2030.gov.sa/en/projects/the-red-sea/" target="_blank" rel="noreferrer noopener">vast waterscape</a>&nbsp;of 50 luxury resorts and 8,000 hotel rooms spread across 22 islands in a Maldives-style archipelago—powered entirely by wind and solar energy? Also in the works is The Rig, a&nbsp;<a href="https://www.vision2030.gov.sa/en/projects/the-rig/" target="_blank" rel="noreferrer noopener">$5-billion adventure theme park</a>&nbsp;built on an off-shore oil platform. In addition, Saudi Arabia is positioning itself as a&nbsp;<a href="https://www.cruisesaudi.com/about#block-ourbusiness" target="_blank" rel="noreferrer noopener">cruise destination</a>, having recently bought a $300-million ship. Across the Kingdom, new roads, airports, golf courses and cruise terminals are rising from the sand. The map is literally being redrawn in real time.



Then there are all the new hotels, with their thousands of freshly built rooms. The world’s most iconic hospitality companies—Ritz-Carlton, Four Seasons, St. Regis, Fairmont, Marriott, Hilton, Hyatt and InterContinental—are falling over themselves to jump into a construction pipeline that’s churning faster than anywhere else in the world. Any one of these projects might momentarily pierce the travel industry’s fleeting attention span. But together, what’s going on in Saudi Arabia simply cannot be ignored.



Indeed, it can be often difficult to visualize the vastness of Saudi Arabia’s physical transformation. Some of the most notable ongoing projects—including Sindalah, the 7-star private island, and Trojena, the improbable desert ski resort—fall within NEOM, a $500-billion built-from-scratch region in northwest Saudi Arabia where the Kingdom is creating new cities, resorts and other developments. At 10,200 square miles and bounded by the Red Sea to the south and the Gulf of Aqaba to the west, it’s roughly the size of Albania.



Bankrolled mainly by the Kingdom’s $700-billion Public Investment Fund (PIF), the idea for NEOM was born out of&nbsp;<a href="https://www.vision2030.gov.sa/en/" target="_blank" rel="noreferrer noopener">Vision 2030</a>, Saudi Arabia’s grand plan to shake off its historic reliance on oil and diversify its economy. One the scheme’s pillars involves reinventing the country as a global tourism juggernaut. When first announced in 2016, the Kingdom’s tourism goals seemed fanciful: Attract 100 million foreign and domestic visitors to the country every year and grow tourism’s share of the economy from about 3% to 10%. Oh, and do it all in just 14 years.



That aspiration seemed all the more preposterous given that, in 2016, Saudi Arabia had not yet opened its doors to international leisure travelers. At the time, travel to the Kingdom was almost entirely restricted to three types of people: expatriate workers, those with business visas, and religious pilgrims visiting the holy cities of Mecca and Medina.



Then in 2019,&nbsp;<a href="https://www.forbes.com/sites/sarabrittanysomerset/2019/09/27/saudi-arabia-opens-its-borders-to-tourists-but-not-cannabis/?sh=2823b4b36924">Saudi Arabia announce</a>d&nbsp;it would provide e-visas and visas on arrival to visitors from 49 countries, including the United States. Among other changes announced at the time: Female visitors would be exempted from wearing an abaya, the traditional and otherwise obligatory head-to-toe robe, in public places and would be allowed to travel without a male companion. Tourists would still be required to dress modestly and Mecca would remain off-limits to non-Muslims.



Since Saudi Arabia opened to the international travel market, the speed and spare-no-expense approach to its transformation has stunned even the most seasoned tourism analysts. “We’re seeing hugely ambitious plans, huge amounts of development,” says Caroline Bremner, head of travel and tourism research at&nbsp;<a href="https://www.euromonitor.com/travel" target="_blank" rel="noreferrer noopener">Euromonitor International</a>. “Billions, ultimately trillions, worth of dollars being invested in infrastructure and in diversifying their economy.” The World Travel &amp; Tourism Council (WTTC) estimated the Kingdom has already spent $800 billion, and that doesn’t include the massive amounts of foreign investments pouring in.



The pandemic delayed some projects, of course, but rather than scaling back expectations, the Saudis ratcheted up their goal to 150 million annual visitors by 2030. Here’s where semantics come into play. In tourism parlance, a “visitor” is defined as someone who visits a site within the country, which is very different from what Euromonitor deems an “arrival,” someone who makes an overnight stay. (Other organizations sometimes call the latter “tourists.”) Saudi Arabia had over 24 million foreign arrivals in 2023 and will welcome nearly 37 million in 2030, according to Euromonitor projections. “So if each of those 37 million overnight tourists visits three sites, you pretty much have got your 100 million visits,” Bremner says. “Then add on top of that your domestic tourists, and their own set targets are quite achievable.”



A more meaningful measure of success is how much foreigners are expected to spend while in Saudi Arabia. Euromonitor predicts that international tourists will spend $38 billion in 2030. But the total economic impact for Saudi Arabia will be far greater after adding in domestic travelers’ expenditures and the ripple effect of one million new tourism jobs. The WTTC projects that, by 2032, Saudi Arabia’s tourism sector could contribute nearly $169 billion to its GDP, representing 17.1% of the total Saudi economy.



“Remember, they’re building this destination on the ledger, essentially from scratch, for the international market, and they are bringing in the best of the best in terms of the quality of people they’re working with” says Bremner. “I can see that they’ve thought through every single aspect of tourism, from the staff to the product, the brand, the service, the connectivity, the sustainability. So it really does feel like they’re building something for the next century ahead.”



Preparing for the future also means recognizing the seismic shift in what the next generations of global travelers will want. Roughly 90% of young Chinese travelers and 70% of Gen Z travelers in the UK, Australia and India say they are looking to discover new destinations, according to data from&nbsp;<a href="https://research.skift.com/" target="_blank" rel="noreferrer noopener">Skift Research</a>. In that sense, being the new kid on the tourism block is an enormous plus.



“New generations have a lot more information through social media,” Billy Canellas, head of asset management at NEOM,&nbsp;<a href="https://skift.com/2023/12/22/skift-global-forum-east-video-building-sustainable-luxury-cities/" target="_blank" rel="noreferrer noopener">told conference-goers</a>&nbsp;at the Skift Global Forum East in December. “[Younger travelers] are very well educated about the effects of overtourism in traditional destinations,” he added, noting “a clear tendency towards the eco-friendly and sustainable destinations” and an eagerness to learn about a destination’s “culture and the traditions of diversity.”



“The luxury market is getting more diverse and younger, and it&#8217;s shifting to the emerging markets,” says Bremner, noting that the United Arab Emirates, India and China are all highly appealing to this demographic. “We have this fresh-faced luxury traveler, and it&#8217;s not the traditional older generation of travelers with lots of money. It’s the New World luxury traveler, highly digital, very environmentally conscious, and for whom social impact is important.”



“Make no mistake,” says Geoff Freeman, president and CEO of the U.S. Travel Association, “what Saudi Arabia is doing is they’re identifying who are some of the most important travelers are—the people willing to spend a lot of money on experiences—and asking, How do we go get them?”



There are, of course, many ways for the Saudi grand vision to go sideways. First, there are enormous financial risks inherit in tackling so many giga projects all at once, even for a country with bottomless pockets. “The Saudis are running at 82% public debt compared to government revenue,” Bremner says, noting that official public debt as a percentage of GDP was 23.8% in 2023. Still, it’s all relative. The Kingdom’s debt-to-GDP ratio is nearly double what it was a decade ago, but still quite low compared to other countries. For example, Switzerland’s government debt is 41% of GDP. The U.S. and Canadian governments’ debt is 133% and 106% of GDP, respectively. The U.K.’s debt is 98% of GDP.



Bremner’s biggest concern is hotel overcapacity, which would ultimately suppress prices. “That luxury positioning is going to come under a little bit of erosion, because [the Saudis] are moving so quickly. With that level of supply, it is quite hard to balance,” she says, adding that Euromonitor International’s latest forecast model predicts that the average traveler’s spend will have already dropped by 2030. “Too many hotel rooms that aren’t being filled will drive prices down, so that’s a risk.”



In addition, Saudi Arabia has a persistent PR problem among many would-be travelers, especially those from the West. The Kingdom still has strict laws about drinking and severe restrictions for women, not to mention allegations of human rights abuses and attacks against journalists. In 2021, the U.S.&nbsp;<a href="https://www.forbes.com/sites/andymeek/2021/02/25/the-white-house-is-releasing-a-bombshell-report-about-slain-washington-post-journalist-jamal-khashoggi/?sh=772fad154dcb">officially blamed</a>&nbsp;Saudi Crown Prince Mohammed bin Salman for the 2018 murder of&nbsp;Washington Post&nbsp;journalist Jamal Khashoggi.



But any concerns about human rights haven’t stopped multinational corporations from investing in the Kingdom’s grand vision. “For some players, it will be a very important issue, perhaps a complete barrier to entry,” says Bremner. “However, we can see that the majority of luxury hotel brands have already shifted from China and the U.A.E. into Saudi Arabia.”



After all, the international travel market loves nothing more than a shiny, new destination in an emerging market and right now, the Middle East is having a moment. “You have the Middle East in the sort of perfect location,” says Bremner, “just like Turkey—within a five-hour flight of Asia and of Western Europe.”



Even with the start of the Israel-Hamas War last October, the Mideast was nevertheless the fastest-growing tourism region in 2023, with international arrivals 23% above pre-pandemic levels, according to the&nbsp;<a href="https://www.unwto.org/tourism-data/unwto-tourism-recovery-tracker" target="_blank" rel="noreferrer noopener">UN World Tourism Organization’s Tourism Recovery Tracker</a>. That’s 35% above the global average, as the rest of the world’s tourism is, on average, still at a 12 point deficit compared to 2019 visitor volume.



While just over three million American tourists visited the region in 2023—making up 12.6% of total outbound U.S. tourists—that’s a massive 39% jump from 2019. And though the Middle East’s portion of American tourists was smaller than those of Europe (40%) and Asia (15.7%) last year, it was the only one of the three regions that has grown since the pandemic.



But Freeman isn’t concerned about Saudi Arabia’s ability to lure large numbers of American tourists. “I&#8217;m worried about them trying to attract Europeans, high-spending Middle Easterners, and Asians, who might have otherwise come and spent their money in the United States,” he says.



After all, Freeman says, international tourism is an increasingly competitive sport where one country’s gain is another’s loss: “What gives us pause,” he says, “is that other nations now realize that travel is a global competition to figure out who can attract the customer.”

Traffic in Riyadh at sunset in Saudi Arabia capital city

Inside Saudi Arabia’s $800 Billion Tourism Moonshot

A Brazilian producer and a Kenyan singer came together to create a song last year that soared up music charts globally, and collaborating with an India-born director for the video, it is now a milestone for African sound.



A decade ago, who knew Africa would boast a full-fledged creative economy?



The continent is front and center on the global stage today especially when it comes to its music, which has seen rapid strides with collaborations between homegrown artists, producers, and directors and creative talent from across the world.



Into this mix, we are now seeing one of the biggest cross- cultural collaborations in the Electronic Dance Music (EDM) genre yet, described by critics as “a song that will give you an undeniable earworm” (catchy piece of music that sticks).



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<iframe loading="lazy" title="Zerb - Mwaki (Feat. @Sofiya_Nzau) [Official Music Video]" width="500" height="281" src="https://www.youtube.com/embed/y6iMvNkAQt4?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div></figure>



Brazilian music producer Matheus Zerbini Massa, popularly known as Zerb, released the single Mwaki in October last year. The song, featuring Kenyan singer Sofiya Nzau, has been globally soaring up charts such as Shazam TOP 200 GLOBAL Popular Songs and Spotify Global Viral 50.



Its success has come as no surprise for the team’s creators. “To be honest, [I am not surprised at how big the song has become], not really,” Massa says to FORBES AFRICA. “It’s very unique. Every person I have [passed on] the song to has said it’s one of their favorites on the EP. Usually, when we are not doing music that is in English, we think it’s harder to break barriers. And this song [has been] the opposite. Because it has connected with people from all over the world.”



Mwaki, which predominantly features Nzau’s vocals, is in Kenya’s Kikuyu language. Nzau knew the song would go viral but was not sure about the extent of it.



“I’m just grateful that it’s still doing [well],” Nzau says. “We are in a season where Africans are accepting that we don’t have to [sing in] English to be heard outside of Africa. And the fact [is] that even audiences outside of Africa are willing to listen to our music… I am glad to be part of a campaign like this.”Mwaki paints a colorful picture with a strong African narrative 


<div class="wp-block-image">
<figure class="alignright size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="684" src="https://cms.forbesafrica.com/wp-content/uploads/2024/01/Mwaki-Video-Shoot-behind-the-scenes-PMG-2023-273__-1024x684.jpg" alt="" class="wp-image-61091" style="width:480px;height:auto" srcset="https://cms.forbesafrica.com/wp-content/uploads/2024/01/Mwaki-Video-Shoot-behind-the-scenes-PMG-2023-273__-1024x684.jpg 1024w, https://cms.forbesafrica.com/wp-content/uploads/2024/01/Mwaki-Video-Shoot-behind-the-scenes-PMG-2023-273__-300x200.jpg 300w, https://cms.forbesafrica.com/wp-content/uploads/2024/01/Mwaki-Video-Shoot-behind-the-scenes-PMG-2023-273__-768x513.jpg 768w, https://cms.forbesafrica.com/wp-content/uploads/2024/01/Mwaki-Video-Shoot-behind-the-scenes-PMG-2023-273__-1536x1025.jpg 1536w, https://cms.forbesafrica.com/wp-content/uploads/2024/01/Mwaki-Video-Shoot-behind-the-scenes-PMG-2023-273__.jpg 2000w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">(Image supplied)</figcaption></figure></div>


Literally, Mwaki means fire but at its core, it’s a song of longing.



Nzau shares that it’s about fighting for something you love and not being afraid. “It’s the story of a woman who is in love with a man her parents are not in approval of, but she’s willing to fight for him, she’s willing to cover him. Just so she can be with him. Just so she can experience love.”



Following the song’srelease, therewasacollectiveneed to prolong the cultural and creative celebrations commemorating the diverse and enriching elements conveyed in the song and bringing them to life visually.



How can a collaborative depiction of culture, creativity and achievements be effectively portrayed? That is where director Mikhail Mehra comes in, literally.



“I feel like I’m the chaos guy,” Mehra jokes, speaking with FORBES AFRICA on a Zoom call from his home in Los Angeles. “People call me when it’s like chaotic and insane and they’re like ‘can you pull this off’?”



Mehra,born and raised in Mumbai, India, remembers that first call with Jake Udell, the American music manager and founder of TH3RD BRAIN, the independent record label that Massa is signed up with.



“Jake called me a couple of weeks before Christmas and he’s like ‘listen, man, I got this amazing song, do you think you can pull off this music video [during] this timeline, and can you deliver it to us in the second week of January?’&#8221; 


<div class="wp-block-image">
<figure class="aligncenter size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="684" src="https://cms.forbesafrica.com/wp-content/uploads/2024/01/Mwaki-Video-Shoot-behind-the-scenes-PMG-2023-94__-1024x684.jpg" alt="" class="wp-image-61094" style="width:608px;height:auto" srcset="https://cms.forbesafrica.com/wp-content/uploads/2024/01/Mwaki-Video-Shoot-behind-the-scenes-PMG-2023-94__-1024x684.jpg 1024w, https://cms.forbesafrica.com/wp-content/uploads/2024/01/Mwaki-Video-Shoot-behind-the-scenes-PMG-2023-94__-300x200.jpg 300w, https://cms.forbesafrica.com/wp-content/uploads/2024/01/Mwaki-Video-Shoot-behind-the-scenes-PMG-2023-94__-768x513.jpg 768w, https://cms.forbesafrica.com/wp-content/uploads/2024/01/Mwaki-Video-Shoot-behind-the-scenes-PMG-2023-94__-1536x1025.jpg 1536w, https://cms.forbesafrica.com/wp-content/uploads/2024/01/Mwaki-Video-Shoot-behind-the-scenes-PMG-2023-94__.jpg 2000w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">(Image supplied)</figcaption></figure></div>


And Mehra responded: “Uh, yes.” It was to be shot in Kenya.



Alec Udell, Co-CEO of TH3RD BRAIN, says that it was about more than just filming in Kenya, it was about contributing to the country, especially since most of the crew was from the country.



“For the music video, we asked ‘where do we shoot’?” Alec says. “It wasn’t a business decision; it was more of a creative decision. How can a music video feel authentic for the song if it’s not shot in Kenya? It didn’t feel like there was anywhere else in the world that made sense to shoot it and get the authenticity of it, which I think was important.”


<div class="wp-block-image">
<figure class="aligncenter size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="684" src="https://cms.forbesafrica.com/wp-content/uploads/2024/01/Mwaki-Video-Shoot-behind-the-scenes-PMG-2023-250__-1024x684.jpg" alt="" class="wp-image-61092" style="width:664px;height:auto" srcset="https://cms.forbesafrica.com/wp-content/uploads/2024/01/Mwaki-Video-Shoot-behind-the-scenes-PMG-2023-250__-1024x684.jpg 1024w, https://cms.forbesafrica.com/wp-content/uploads/2024/01/Mwaki-Video-Shoot-behind-the-scenes-PMG-2023-250__-300x200.jpg 300w, https://cms.forbesafrica.com/wp-content/uploads/2024/01/Mwaki-Video-Shoot-behind-the-scenes-PMG-2023-250__-768x513.jpg 768w, https://cms.forbesafrica.com/wp-content/uploads/2024/01/Mwaki-Video-Shoot-behind-the-scenes-PMG-2023-250__-1536x1025.jpg 1536w, https://cms.forbesafrica.com/wp-content/uploads/2024/01/Mwaki-Video-Shoot-behind-the-scenes-PMG-2023-250__.jpg 2000w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Hell’s Gate National Park in Nairobi (Image supplied)</figcaption></figure></div>


Africa’s creative economy is growing, generating billions but in comparison with the rest of the world, the uptake is slower. The continent’s share remains significantly low, accounting for only around 2.9% of global creative goods exports, representing $58.4 billion and less than 1% of the African GDP, according to the United Nations Development Programme report on Accelerating Creativity and Innovation in Africa. And when projects do emerge, their coverage demonstrates that notonly is Africa misrepresented, it is underrepresented. Furthermore, negative stereotypes, poor narratives, and mystifying clichés continue to be propagated in the stories that come out of the continent.



Although Mwaki has a strong narrative, Mehra did away with a storyline for the music video and worked stylistically to ensure there would be no clichés.


<div class="wp-block-image">
<figure class="alignleft size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="684" src="https://cms.forbesafrica.com/wp-content/uploads/2024/01/Mwaki-Video-Shoot-behind-the-scenes-PMG-2023-84___-1024x684.jpg" alt="" class="wp-image-61096" style="width:405px;height:auto" srcset="https://cms.forbesafrica.com/wp-content/uploads/2024/01/Mwaki-Video-Shoot-behind-the-scenes-PMG-2023-84___-1024x684.jpg 1024w, https://cms.forbesafrica.com/wp-content/uploads/2024/01/Mwaki-Video-Shoot-behind-the-scenes-PMG-2023-84___-300x200.jpg 300w, https://cms.forbesafrica.com/wp-content/uploads/2024/01/Mwaki-Video-Shoot-behind-the-scenes-PMG-2023-84___-768x513.jpg 768w, https://cms.forbesafrica.com/wp-content/uploads/2024/01/Mwaki-Video-Shoot-behind-the-scenes-PMG-2023-84___-1536x1025.jpg 1536w, https://cms.forbesafrica.com/wp-content/uploads/2024/01/Mwaki-Video-Shoot-behind-the-scenes-PMG-2023-84___.jpg 2000w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">(Image supplied)</figcaption></figure></div>


Filming was at Hell’s Gate National Park in Nairobi amidst its cliffs, gorges, rock towers, volcanoes and plumes of geothermal steam. “I wanted it to be a visual treat. So, colors and textures [were] important. We knew we wanted dance [incorporated heavily] and I wanted a lot of dancers… I knew I wanted it to be big.”



“The director’s vision was to give the music video a sense of grandeur,” Kenyan producer Fuad Mbigi chips in.



“To film in a big, beautiful location with a gorgeous African savannah backdrop with as many dancers as possible… The song is a global hit so it only makes sense that the video too is grand.”



“I see African influence everywhere in the West,” Mehra concurs. “…So, it just feels natural. And it feels very obvious to me why [the continent] could be having a moment. And one could argue that this is one moment in a long series of moments.”



“The song has proven that music is a universal language,” Massa adds.



“And it proves that with music, we can combine different cultures and different sounds from different parts of the world. I’m a Brazilian producer, with a Kenyan singer and we got one of the biggest songs in the world right now.”



Nzau adds that collaborations like this have allowed her to see the doors of opportunity open wider and that Africa can “be viewed as big as other countries or other continents”.



“I want African artists to believe that whatever we have here, languages, culture, traditions, instruments, or anything African is good enough to be used and to represent us. Other than us just trying to copy and fit in, we just [continue] to create our own because everything we do here is all beautiful.”

Mwaki Video Shoot behind the scenes PMG 2023 109___

FOR THE RECORD: An African Song Soaring Up Charts Filmed In Kenya

<h2 class="wp-block-heading" id="h-topline">TOPLINE</h2>



The head of the United Nations agency providing humanitarian aid to Palestinian refugees on Saturday denounced a move by a growing number of countries to pull funding for the agency following allegations by Israel that some of its staffers participated in Hamas’ attack on Israel on Oct. 7.



<h2 class="wp-block-heading" id="h-key-facts">KEY FACTS</h2>



<a href="https://valtioneuvosto.fi/en/-/finland-to-suspend-its-funding-to-unrwa" target="_blank" rel="noreferrer noopener">Finland</a>, the&nbsp;<a href="https://www.dutchnews.nl/2024/01/the-netherlands-halts-financial-support-for-unrwa/" target="_blank" rel="noreferrer noopener">Netherlands,</a>&nbsp;<a href="https://www.barrons.com/news/swiss-aid-payment-to-un-agency-for-palestinian-refugees-in-doubt-08d15150" target="_blank" rel="noreferrer noopener">Switzerland</a>,&nbsp;<a href="https://www.reuters.com/world/italy-suspends-financing-unrwa-foreign-minister-tajani-2024-01-27/" target="_blank" rel="noreferrer noopener">Italy</a>,&nbsp;<a href="https://www.gov.uk/government/news/statement-on-allegations-about-unrwa-staff-and-7-october-attacks" target="_blank" rel="noreferrer noopener">the U.K.</a>&nbsp;and&nbsp;<a href="https://www.barrons.com/news/germany-says-suspending-funding-to-un-agency-in-gaza-df4ea2be" target="_blank" rel="noreferrer noopener">Germany</a>&nbsp;all announced suspensions of funding to the United Nations Relief and Works Agency (UNRWA) on Saturday.



Those announcements followed the&nbsp;<a href="https://www.state.gov/statement-on-unrwa-allegations/" target="_blank" rel="noreferrer noopener">U.S.</a>,&nbsp;<a href="https://twitter.com/SenatorWong/status/1751103658509644035" target="_blank" rel="noreferrer noopener">Australia&nbsp;</a>and&nbsp;<a href="https://www.ctvnews.ca/politics/canada-suspends-cash-for-un-agency-serving-palestinians-amid-probe-into-hamas-attack-1.6744404" target="_blank" rel="noreferrer noopener">Canada</a>, who suspended funding on Friday.



Philippe Lazzarini, commissioner general of the agency,&nbsp;<a href="https://www.unrwa.org/newsroom/official-statements/unrwa%E2%80%99s-lifesaving-aid-may-end-due-funding-suspension" target="_blank" rel="noreferrer noopener">said</a>&nbsp;it was “shocking” to see the suspension, especially since the agency took “immediate action” to terminate the contracts of the accused staffers and investigate the allegations.



Citing Friday’s&nbsp;<a href="https://apnews.com/article/israel-gaza-genocide-court-south-africa-27cf84e16082cde798395a95e9143c06" target="_blank" rel="noreferrer noopener">ruling</a>&nbsp;from the International Court of Justice that ordered Israel to take measures to enable humanitarian assistance for people in Gaza, Lazzarini said it would be “immensely irresponsible” to sanction the agency and those it serves “because of allegations of criminal acts against some individuals.”



<h2 class="wp-block-heading" id="h-crucial-quote">CRUCIAL QUOTE</h2>



“I urge countries who have suspended their funding to re-consider their decisions before UNRWA is forced to suspend its humanitarian response,” Lazzarini said in his statement. “The lives of people in Gaza depend on this support and so does regional stability.&#8221;



<h2 class="wp-block-heading" id="h-key-background">KEY BACKGROUND</h2>



Israel alleged on Friday that 12 UNRWA staffers were involved in Hamas’ Oct. 7 terror attack against Israel, where militants killed roughly 1,200 people and took more than 200 captive. UNRWA terminated the contracts of those employees and launched an investigation the same day, and the New York Times reported Friday that the employees are also<a href="https://www.nytimes.com/2024/01/26/world/middleeast/un-aid-israel-oct-7-attacks.html" target="_blank" rel="noreferrer noopener">&nbsp;subject</a>&nbsp;to a criminal investigation. In a statement Friday, Lazzarini reiterated UNRWA’s condemnation of Oct. 7 “in the strongest possible terms” and called for the “unconditional release” of all Israeli hostages. But the U.S. led the charge in pulling back funding, with State Department spokesman Matthew Miller saying in a&nbsp;<a href="https://www.state.gov/statement-on-unrwa-allegations/" target="_blank" rel="noreferrer noopener">statement&nbsp;</a>that the U.S. was “extremely troubled” by the allegations. On Friday, the International Court of Justice at the UN<a href="https://www.reuters.com/world/middle-east/key-takeaways-world-court-decision-israei-genocide-case-2024-01-26/" target="_blank" rel="noreferrer noopener">&nbsp;ordered</a>&nbsp;Israel to take steps to avoid continued casualties that would constitute a genocide in Gaza. UNRWA is the largest humanitarian actor in Gaza with 3,000 core staff on the ground, per Lazzarini’s statement. Israel has in the past&nbsp;<a href="https://www.nytimes.com/2024/01/26/world/middleeast/unrwa-aid-israel-hamas-attack.html" target="_blank" rel="noreferrer noopener">accused</a>&nbsp;UNRWA of spreading pro-Hamas propaganda.



<h2 class="wp-block-heading" id="h-big-number">BIG NUMBER</h2>



26,083. That’s the number of Palestinians that have been killed in the war between Israel and Hamas in Gaza, <a href="https://www.barrons.com/news/health-ministry-in-hamas-run-gaza-says-war-death-toll-at-26-083-86a72a11" target="_blank" rel="noreferrer noopener">according </a>to the health ministry in Gaza.

UNRWA Commissioner-General Philippe Lazzarini in Gaza

Head Of UN Agency Denounces ‘Shocking’ Funding Cuts Amid Allegations Staffers Were Involved In Hamas’ Attack On Israel

With the country’s electric vehicle market in the spotlight, an industry expert speaks to FORBES AFRICA about the complex tariff and trade dynamics shaping its import duties.



What drives the tariffs of imported vehicles into South Africa? Currently, the country levies a 25% import tax on EVs, compared to 18% for internal combustion engine vehicles (ICEVs).



In a recent exchange on X (formerly Twitter), South Africa-born, Elon Musk, CEO of Tesla, addressed the barriers hindering Tesla&#8217;s entry into the South African market. Responding to a question about Tesla&#8217;s absence, Musk cited &#8220;super high&#8221; import duties on electric vehicles (EVs) as a primary obstacle, bringing to light the complexities of South Africa&#8217;s approach to EVs and its impact on global manufacturers.



Dr Norman Lamprecht of the Automotive Industry Export Council (AIEC) and the Automotive Business Council (NAAMSA) explains how South Africa’s trade agreements and import taxes function.



“It’s not about any differentiation between internal combustion vehicles and electric vehicles, but about our free trade agreements,” Lamprecht says to FORBES AFRICA.



How South Africa’s vehicle trade works



South Africa has a compelling automotive production industry. The country manufactures cars for multiple car makers, for both local use and export markets, Lamprecht explains.



“Import duties on a normal passenger vehicle, bakkies or light commercial vehicles are standardized at 25%,” says Lamprecht. “Because of a Free Trade Agreement we have with the European Union, we offer a 7% reduction on importing vehicles from that region, and in return, we export around 400,000 vehicles a year – the vast majority of which go to the EU.”



Lamprecht notes that the import tax for normal commercial vehicles into the US, excluding SUVs, is also 25%, a clear parity.



Protecting the South African automotive sector



He also agrees that the South African automotive sector requires protection, echoing Minister of Trade, Industry, and Competition, Ebrahim Patel’s recent comments, which was not the suggestion of a cautious approach to EV adoption, but rather a need to develop local capacity to secure the future of South Africa’s automotive export market. This, by building local capacity for EV and component production as much of Europe prepares to phase out ICEVs.



&#8220;With the transition to electric vehicles, we don’t want to lose the 75% of our exports to Europe around 2030-2035,” says Lamprecht. “Therefore, we need to start building these vehicles in South Africa.”



However, the creation of this new capacity needs to be balanced with the need for ICEVs, locally, and before the phase-out and move to EVs becomes permanent in South Africa’s export markets.



The automotive tax burden on the South African consumer



One aspect which Lamprecht takes great pains to note is the automotive taxes on the South African consumer. Not only are import taxes levied, but a plethora of other costs are involved in vehicle purchases.



“The tax burden on consumers purchasing vehicles is huge,” says Lamprecht, noting that South Africans pay taxes on carbon dioxide, VAT, and an ad valorem tax – essentially a levy on luxuries, which can be up to 30% on vehicles over $50,000.



However, policy is shifting fast, with both national government as well as policy-guiding bodies, such as the AIEC and NAAMSA, working together to guide a manufacturing future that is sustainable and beneficial for all parties involved, over the next 20 years.

Midsection of woman plugging cable in electric car

Interpreting South Africa’s EV Import Duties

<h2 class="wp-block-heading" id="h-topline">TOPLINE</h2>



As shares of Tesla&nbsp;<a href="https://finance.yahoo.com/quote/TSLA/" target="_blank" rel="noreferrer noopener">sank</a>&nbsp;13% Thursday, a day after the company&nbsp;<a href="https://www.youtube.com/watch?v=A_2Z-AEtdAg&amp;embeds_referring_euri=https%3A%2F%2Fwww.businessinsider.com%2F&amp;source_ve_path=MjM4NTE&amp;feature=emb_title" target="_blank" rel="noreferrer noopener">reported</a>&nbsp;missed estimates in its fourth-quarter earnings, the net worth of its centibillionare CEO Elon Musk dropped by more than $18 billion, though he remains the richest person in the world.



<h2 class="wp-block-heading" id="h-key-facts">KEY FACTS</h2>



Tesla stock sank 13.2% to 180.38 on Thursday, with Musk losing $18.8 billion.



The decline followed the company’s Wednesday fourth-quarter&nbsp;<a href="https://www.youtube.com/watch?v=A_2Z-AEtdAg" target="_blank" rel="noreferrer noopener">earning report</a>&nbsp;that indicated it&nbsp;<a href="https://finance.yahoo.com/news/tesla-stock-plunges-12-as-ev-maker-warns-production-growth-will-be-notably-lower-than-2023-143454161.html" target="_blank" rel="noreferrer noopener">missed several estimates</a>—including that revenue for the quarter was $25.17 billion, compared to an estimated $25.87 billion.



Stocks for fellow American electric car makers&nbsp;<a href="https://finance.yahoo.com/quote/RIVN?p=RIVN&amp;ncid=yahooproperties_stockrecom_g40boan2td8" target="_blank" rel="noreferrer noopener">Rivian</a>&nbsp;and&nbsp;<a href="https://finance.yahoo.com/quote/LCID?p=LCID&amp;ncid=yahooproperties_stockrecom_g40boan2td8" target="_blank" rel="noreferrer noopener">Lucid</a>&nbsp;also dropped 1% and 6%, respectively, on Thursday.



<h2 class="wp-block-heading" id="h-forbes-valuation">FORBES VALUATION</h2>



Musk lost $18.8 billion Thursday, a more than $17 billion larger decline than any other billionaire, according to&nbsp;<a href="https://www.forbes.com/real-time-billionaires/#62bf5a623d78">Forbes calculations</a>. Musk, who owns about 21% of Tesla, remains the world’s wealthiest person with an&nbsp;<a href="https://www.forbes.com/profile/elon-musk/?listuri=rtb&amp;sh=430430527999">estimated net worth</a>&nbsp;of $203.6 billion, still roughly $20 billion more than LVMH’s&nbsp;<a href="https://www.forbes.com/profile/bernard-arnault/?sh=5900e1fb66fa">Bernard Arnault</a>.



<h2 class="wp-block-heading" id="h-big-number">BIG NUMBER</h2>



$320 billion. That’s how much Musk was worth in November 2021, first person in history to obtain such a net worth and also&nbsp;<a href="https://www.forbes.com/sites/rachelsandler/2022/10/21/elon-musks-fortune-has-fallen-by-more-than-100-billion-in-less-than-a-year/?sh=691a348a3ea4">his peak fortune</a>.



<h2 class="wp-block-heading" id="h-further-reading">FURTHER READING</h2>



<a href="https://www.forbes.com/sites/petercohan/2024/01/25/tesla-stock-price-down-25-in-2024-time-to-take-your-profits/?sh=5451e31a701a">With Tesla Stock Down 25% In 2024, It’s Time To Take Your Profits</a> (Forbes)

Elon Musk’s Net Worth Drops $18 Billion As Tesla Stock Slides

<h2 class="wp-block-heading" id="h-topline">TOPLINE</h2>



The British Museum and London’s Victoria and Albert Museum (V&amp;A) announced on Thursday that 32 gold and silver artifacts from Ghana, which were looted during the Anglo-Ashanti Wars in the 1800s, would return to the country for the first time in 150 years—but only for a limited amount of time.



<h2 class="wp-block-heading" id="h-key-facts">KEY FACTS</h2>



The artifacts include 17 items from the V&amp;A and 15 items from the British Museum, including dozens of gold items looted while the British Army raided the Ashanti royal palace that were auctioned off to the museums in April 1874.



The items will be displayed as part of the silver jubilee of Asantehene Otumfuo Osei Tutu II, the ceremonial king of the Ashanti people.



However, the exhibition will not permanently remain in Ghana—the pieces are only on loan for three years, and will return to the U.K. in 2027, the British Museum told Forbes in an email.



Several British laws also prevent the museums from outright returning these artifacts to Ghana: the&nbsp;<a href="https://www.britishmuseum.org/sites/default/files/2019-10/British-Museum-Act-1963.pdf" target="_blank" rel="noreferrer noopener">British Museum Act of 1963</a>&nbsp;bans the museum from removing an artifact from its collection unless it is a duplicate, is damaged or is deemed “unfit” for the collection.



The National Heritage Act of 1983 prevents the V&amp;A from legally returning the artifacts as well, the museum told Forbes, and noted they have not received any formal requests for repatriation for the pieces being lent.



The Britsh Museum did not say if there were any plans to permanently return the artifacts in the works, but praised the loan agreement as “a way of working together with countries and communities within the realms of the law.”



<h2 class="wp-block-heading" id="h-key-background">KEY BACKGROUND</h2>



The British Museum and other collections in Europe and North America are facing criticism and calls for the return of artwork, artifacts and human remains looted during wars or obtained in other ways while these nations ruled colonial empires across the world. Among these are the famous Benin Bronzes, a collection of bronze sculptures looted from the Kingdom of Benin in modern-day Nigeria. Other contentious collections include the Maqdala collection, taken from Ethiopia in the 1800s, as well as the human remains of more than 6,000 people, including Egyptian mummies.



<h2 class="wp-block-heading" id="h-tangent">TANGENT</h2>



One of the most contentious sets of artifacts displayed in the British Museum are the Parthenon Sculptures, a collection of 2,500-year-old marble sculptures a British diplomat personally removed from the famous temple in Athens in 1806. The sculptures have caused an ongoing diplomatic row between the U.K. and Greece, who contend they were looted. In November, Greek Prime Minister Kyriakos Mitsotakis canceled a meeting with British Prime Minister Rishi Sunak after he ruled out changing a law that bans their return to Greece. After the Museum’s announcement on Thursday, Mitsotakis renewed calls to return the sculptures. “Only by being seen together, in situ, in the shadow of the Acropolis, can we truly appreciate their immense cultural importance,&#8221; Mitsotakis said in a statement, <a href="https://www.reuters.com/world/europe/greek-pm-repeats-call-return-parthenon-sculptures-athens-2024-01-25/" target="_blank" rel="noreferrer noopener">Reuters</a> reported.

Turkiye demands the return of artifacts in UK museums

British Museum Lends Ghana Looted Gold Artifacts—Here’s Why It Won’t Fully Return Them

<h2 class="wp-block-heading" id="h-topline">TOPLINE</h2>



The Federal Aviation Administration&nbsp;<a href="https://www.faa.gov/newsroom/faa-halts-boeing-max-production-expansion-improve-quality-control-also-lays-out-extensive" target="_blank" rel="noreferrer noopener">announced</a>&nbsp;Wednesday a pathway toward resumed flights for Boeing 737 Max 9 jets, but it won’t allow Boeing to expand production of the planes after a hole was blown into the side of an Alaska Airlines flight using one of the jets earlier this month, prompting temporary groundings and thorough inspections from the FAA.



<h2 class="wp-block-heading" id="h-key-facts">KEY FACTS</h2>



Boeing will be prohibited from expanding production of its Max jets, including the 737-9 Max model, under the order from the FAA on Wednesday.



The FAA also said it approved an inspection and maintenance process that will be performed on all of the 171 grounded Boeing 737-9 Max planes, which if successful, will make the aircraft eligible to return to service.



The inspection and maintenance process was approved after the FAA reviewed data collected from inspections on 40 grounded planes.



Maintenance performed on the aircraft will involve inspection of exit door plugs and parts associated with them, bolts, guide tracks and the correction of damage.



FAA Administrator Mike Whitaker said in a statement that the extensive review of the planes wouldn’t mark a return to “business as usual for Boeing.”



<h2 class="wp-block-heading" id="h-key-background">KEY BACKGROUND</h2>



The National Transportation Safety Board is&nbsp;<a href="https://www.forbes.com/sites/siladityaray/2024/01/09/investigators-will-probe-if-alaska-airlines-737-maxs-door-panel-was-securely-bolted/?sh=1f28f5fd6228">investigating</a>&nbsp;whether or not the door panel that blew off the Alaska Airlines flight was properly bolted before takeoff. Investigators have found the plane’s plug door but have yet to recover the bolts associated with it. The FAA recommended this week that airlines inspect door plugs on Boeing 737-900ER aircraft, a different model from the one involved in the Alaska Airlines incident. The agency, which said the 737-900ER’s door plugs “have an&nbsp;<a href="https://www.forbes.com/sites/siladityaray/2024/01/22/faa-asks-airlines-to-inspect-door-plugs-on-boeing-737-900er-planes/?sh=7222a8fafe91">identical door plug design</a>” to the Max 9, asked airlines to inspect four points where a bolt is used to secure the door to the airframe of the 737-900ER.



<h2 class="wp-block-heading" id="h-further-reading">FURTHER READING</h2>



<a href="https://www.forbes.com/sites/siladityaray/2024/01/22/faa-asks-airlines-to-inspect-door-plugs-on-boeing-737-900er-planes/?sh=7222a8fafe91">FAA Asks Airlines To Inspect Door Plugs On Boeing 737-900ER Planes</a>&nbsp;(Forbes)

British Airways Retires First Of Its Last 747 Jumbo Jets

FAA Clears Way For Boeing 737 Max 9s To Potentially Resume Flying—But Prohibits Increased Production

Following the COP28 United Nations Conference in Dubai in December, the race is on to find tech-centered solutions to assist in achieving global sustainability goals, say experts.



Each year, world leaders and governments meet to have a series of high-level conversations about how to manage the growing impact of climate change under the auspices of the United Nations (UN). Late last year, COP28, the name given to this gathering, took place in Dubai and, like previous years, the discussion was around figuring out innovative solutions to help tackle the effects of climate change and take stock of the progress that has been made so far.



“For a long time, people were unsure or maybe not aware of the devastating action of the climate issue we have now. COP each year reminds people that there is an issue and to really understand the actual impact of climate change and how it is affecting your lives now and COP centralizes a lot of this information and allows it to be further disseminated afterwards,” says Adiam Gafoo, founder and COO of Arts Help, a global non-profit that uses art as a vehicle for social change.



With over 21 million followers, Arts Help is one of the world’s largest digital art publishers. They utilize their social platforms to convey different messages about social change, like climate action under the framework of the UN’s Sustainable Development Goals.


<div class="wp-block-image">
<figure class="alignleft size-full is-resized"><img loading="lazy" decoding="async" width="691" height="865" src="https://cms.forbesafrica.com/wp-content/uploads/2024/01/Adiam-Gafoo-COO-Arts-Help-image-supplied.jpg" alt="" class="wp-image-61073" style="width:491px;height:auto" srcset="https://cms.forbesafrica.com/wp-content/uploads/2024/01/Adiam-Gafoo-COO-Arts-Help-image-supplied.jpg 691w, https://cms.forbesafrica.com/wp-content/uploads/2024/01/Adiam-Gafoo-COO-Arts-Help-image-supplied-240x300.jpg 240w" sizes="(max-width: 691px) 100vw, 691px" /><figcaption class="wp-element-caption">Adiam Gafoo COO Arts Help (image supplied)</figcaption></figure></div>


The next wave of climate action plans is due in 2025. Organizations like Arts Help consider themselves non-traditional climate activists who aim to create a means of understanding the jargon around this through all art forms.



“One of the missions of Arts Help is to establish a digital climate library with the United Nations, which they are building over a period of five to six years. The Web3 component of this is for me to basically find innovative ways of how Web3 can build the infrastructure that is going to support it in various ways,” says Del Titus Bawuah, Founder of Web3 Accra and board member of Arts Help.



“The current state of climate change action is at a critical juncture. It&#8217;s evident that more aggressive and collaborative efforts are needed globally. The focus should be on implementing actionable strategies that go beyond discussions and lead to tangible results. It&#8217;s imperative that we see a shift from pledges to action, with a stronger emphasis on accountability and measurable outcomes,” says Eche Emole, co-founder of Afropolitan, a movement towards creating a digital nation aimed at enabling all Africans, both on the continent and in the diaspora, to live abundant lives.



“We are dealing with just the basic understanding and many people simply don’t understand the gravity of climate change because they do not see it in their day-to-day lives. So, it is very easy to dismiss this as something that is somewhere else. I think just the basic lack of understanding is the biggest issue facing climate change, so they leave it up to the policy-makers and government because it is seen as their job,” says Gafoo.



Bawuah has a different take on the issue.



“There is a lot of bureaucracy in my opinion with climate change and there needs to be a startup approach to climate change where people have an environment where innovation is the driving force. There is too much red tape and there is also a situation where it is seen as a ‘buzz word’ as opposed to a real-life problem. So, each day, things are not moving quickly enough to get better,” he says.



“I think one of the main challenges is the gap between commitment and implementation. Many nations and organizations pledge to reduce emissions, but actual progress is often slow. Another challenge is the equitable distribution of resources and technology, especially in developing countries that are most affected by climate change. Additionally, there&#8217;s a need for more public awareness and education to drive collective action at all levels,” says Emole.



These reasons have led many to look at innovative solutions like blockchain, for example. Its use is seen by many as revolutionary in tech and has been largely lauded as a tool to bring about change in archaic financial and supply chain management systems. The main proponent of blockchain that makes it unique is its decentralized record of transactions.



“How we approach the future in terms of digital infrastructure is key. In this case you think of the COP approach of understanding that climate change policies can no longer be held in physical documentation, especially if you are promoting things that are positive for the environment. It will be unwise not to consider technology when you are building the new infrastructure,” says Bawuah.



“Also, when you think of this kind of initiative through the lens of Web3, it is highly efficient to have things on blockchain because it is more transparent and it also holds leaders accountable. More importantly, it allows us to consolidate data about the environment in a much more efficient way than has ever been done before.”



So how can blockchain help combat climate change?



“Blockchain can play a pivotal role in combating climate change by enhancing transparency and traceability in carbon emissions tracking. It can facilitate the creation of a more reliable and efficient carbon credit market, ensuring that emission reductions are accurately recorded and traded. Blockchain&#8217;s decentralized nature also allows for more democratic and inclusive participation in climate action initiatives,” says Emole.



“Blockchain is the kind of infrastructure that can consolidate information transparently and distribute it efficiently. I think some institutions have made good strides but how do you access the data? How is data shared between one another and is that transparent? I think that blockchain as an infrastructure, supporting the data and the way we form [an] agreement between one another, is going to be central to changing the future in how we tackle climate change. Digital infrastructure is the way forward and that is going to reduce most carbon emissions,” says Bawuah.



There is still a long way to go in the fight against climate change and while blockchain has potential, it&#8217;s not without challenges. The energy consumption of certain blockchain networks is a concern.



“However, these challenges can be managed by adopting more energy-efficient consensus mechanisms like Proof-of-stake. Additionally, integrating blockchain with renewable energy sources can further reduce the carbon footprint associated with its operations,” says Emole.

The pollution hand and effective management with netzero symbols – renewable energy, reduced CO2 emissions, green production, and waste recycling in business, net zero carbon.

‘Need A Startup Approach’: Views From West Africa On Using The Blockchain And Even Digital Art To Combat Climate Change

<h2 class="wp-block-heading" id="h-topline">TOPLINE</h2>



Mental health symptoms in the U.S. rose after the Supreme Court overturned Roe v. Wade, according to research published in JAMA on Tuesday, suggesting broader health consequences of restricting abortion access as some states continue to roll back reproductive rights.



<h2 class="wp-block-heading" id="h-key-facts">KEY FACTS</h2>



There was an overall increase in depressive and anxiety symptoms among adults in the U.S. following the Supreme Court’s decision in Dobbs v. Jackson Women’s Health Organization, based on the peer reviewed analysis of data from the Census Bureau’s Household Pulse Survey of nearly 720,000 people.



The June 2022 decision, a draft of which was&nbsp;<a href="https://www.forbes.com/sites/joewalsh/2022/05/02/supreme-court-reportedly-plans-to-overturn-roe-v-wade-according-to-leaked-draft-opinion/?sh=516f26674f2a">leaked&nbsp;</a>in May, overturned the landmark Roe v. Wade, ending the constitutional right to an abortion and giving individual states the power to regulate or ban the procedure.



The researchers found the increase in depressive and anxiety symptoms was larger among adults living in states with trigger bans—anticipatory laws that automatically restricted access to abortion if Roe v. Wade was overturned—compared to people living in states without them.



Moreover, the researchers said this larger increase was only observed among females of reproductive age living in trigger states, with no increases in males or females who were past reproductive age.



Researchers said the data suggested these symptoms worsened when the Dobbs decision first leaked and continued to worsen after the Supreme Court’s decision was released.



Although their findings were “unsurprising” given the population-level scale of the survey and the relatively distant nature of a policy change being examined—the researchers said they were still significant and raised concerns that policies restricting abortion access could be impacting mental health on a population level.



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<h2 class="wp-block-heading" id="h-what-we-don-t-know">WHAT WE DON’T KNOW</h2>



The survey used self-reported mood data taken as&nbsp;<a href="https://www.census.gov/programs-surveys/household-pulse-survey/data.html" target="_blank" rel="noreferrer noopener">snapshots</a>&nbsp;at various points in time rather than following individuals over a long time period. This means it is hard to suggest concrete reasons why the Dobbs decision was followed by an uptick in depressive and anxiety symptoms. Researchers said the finding could potentially be explained by many factors, including fear about imminent risk of abortion denial, uncertainty on future limitations of abortion and other rights like contraception, as well as worry over the ability to receive life saving medical care during pregnancy and a “general sense of violation and powerlessness related to loss of the right to reproductive autonomy.”



<h2 class="wp-block-heading" id="h-key-background">KEY BACKGROUND</h2>



Health experts and practitioners, as well as a rigorous body of scientific research, have repeatedly warned that restricting access to abortion is likely to lead to&nbsp;<a href="https://www.apa.org/news/press/releases/2022/05/restricting-abortion-mental-health-harms" target="_blank" rel="noreferrer noopener">mental</a>, as well as&nbsp;<a href="https://www.forbes.com/sites/roberthart/2022/06/24/overturning-roe-v-wade-heres-how-itll-impact-reproductive-healthcare---beyond-abortion/?sh=7275e349502d">physical</a>, health harms. People denied abortions have&nbsp;<a href="https://www.apa.org/monitor/2022/09/news-facts-abortion-mental-health" target="_blank" rel="noreferrer noopener">worse</a>&nbsp;physical and mental health outcomes, as well as worse economic outcomes. Lifesaving medicines and treatment may also be harder to acquire or deliver on account of the legal restrictions, and many abortion laws—deliberately or inadvertently—impinge upon related areas of medicine like&nbsp;<a href="https://www.forbes.com/sites/roberthart/2022/06/24/overturning-roe-v-wade-heres-how-it-could-impact-fertility-treatments-and-ivf/?sh=6f0eaff34be9">reproductive care and fertility</a>&nbsp;services like IVF. Such fears have borne out in the years following the court’s decision, including legal efforts to pull abortion drug&nbsp;<a href="https://www.bbc.co.uk/news/world-us-canada-65281568" target="_blank" rel="noreferrer noopener">mifepristone</a>—which is&nbsp;<a href="https://www.forbes.com/sites/alisondurkee/2023/04/11/mifepristone-ruling-here-are-the-unintended-health-consequences-of-attacks-on-abortion-pills/?sh=394e3fa06405">also used to treat</a>&nbsp;a range of medical conditions like miscarriages and Cushing’s syndrome and, when given off label, for issues like uterine fibroids—from the market and limiting access to reproductive healthcare and&nbsp;<a href="https://www.kff.org/womens-health-policy/issue-brief/the-right-to-contraception-state-and-federal-actions-misinformation-and-the-courts/" target="_blank" rel="noreferrer noopener">birth</a>&nbsp;<a href="https://www.forbes.com/sites/alisondurkee/2024/01/22/biden-announces-new-abortion-and-contraception-guidance-on-roe-v-wade-anniversary/?sh=16d124e630d2">control</a>. Critics of abortion often point to purported negative mental health impacts following an abortion procedure, though&nbsp;<a href="https://pubmed.ncbi.nlm.nih.gov/27973641/" target="_blank" rel="noreferrer noopener">studies</a>&nbsp;<a href="https://www.ansirh.org/sites/default/files/publications/files/mental_health_issue_brief_7-24-2018.pdf" target="_blank" rel="noreferrer noopener">covering</a>&nbsp;large numbers of people from around the world consistently reject this interpretation and find receiving a wanted abortion does not increase the risk of mental health problems like depression, anxiety or suicidal thoughts.



<h2 class="wp-block-heading" id="h-contra">CONTRA</h2>



Researchers said the design of the survey did not capture the political ideology of respondents, which they acknowledged “likely plays a role in how the Dobbs decision operates on mental health” (the survey did account for state-level political ideology). It is possible that the&nbsp;Dobbs&nbsp;decision could have had a positive impact on mental health for people whose politics aligned with more restrictions on abortion access, or bans entirely.



<h2 class="wp-block-heading" id="h-crucial-quote">CRUCIAL QUOTE</h2>



This research suggests that the mere existence of policies restricting abortion access—aside from the documented harms caused by the inability to access such services when desired—are associated with an uptick in mental health symptoms, wrote University of Maryland associate professor of family science Julia Steinberg in a linked editorial. The work adds to “emerging evidence” that taking away reproductive autonomy on an individual level “may increase symptoms of anxiety and depression in all people and particularly females of reproductive age,” Steinberg added, criticizing the false narrative surrounding the perceived dangers of abortion often used to drive such policies. Such “unsubstantiated” claims simply “create the veneer that legitimate scientific debate on this topic exists,” Steinberg said.



<h2 class="wp-block-heading" id="h-further-reading">FURTHER READING</h2>



<a href="https://www.forbes.com/sites/roberthart/2022/06/24/overturning-roe-v-wade-heres-how-itll-impact-reproductive-healthcare---beyond-abortion/?sh=319ed059502d">Overturning Roe V. Wade: Here’s How It’ll Impact Reproductive Healthcare — Beyond Abortion</a>&nbsp;(Forbes)



<a href="https://www.nytimes.com/2022/05/24/well/mind/abortion-access-mental-health.html" target="_blank" rel="noreferrer noopener">Does Being Denied an Abortion Harm Mental Health?</a>&nbsp;(NYT)



<a href="https://www.forbes.com/sites/roberthart/2022/06/24/overturning-roe-v-wade-heres-how-it-could-impact-fertility-treatments-and-ivf/?sh=6f0eaff34be9">Overturning Roe V. Wade: Here’s How It Could Impact Fertility Treatments And IVF</a>&nbsp;(Forbes)

Women’s March rally in Washington

Anxiety And Depression Symptoms Jumped After SCOTUS Overturned Roe, Study Finds

Roushanna Gray uses food and ecology as a medium to impart knowledge on the rich biodiversity of South Africa’s edible land and seascapes.



Cape Town is a city with no shortage of experiences, for every kind of person. There are some that appeal to the hedonists, such as lavish fine dining dinners or curated wine tastings. And then there are those that offer a unique insight into the Western Cape province’s biodiversity and landscape, such as the coastal foraging experiences hosted by Veld &amp; Sea in Cape Point.



Housed at the Good Hope Gardens Nursery in Cape Point – which focuses on cultivating and protecting plants, flowers and trees indigenous to the majestic Cape Floral Kingdom – Veld &amp; Sea is run by Roushanna Gray, a food artist and forager, who says it was her own curiosity about the edible land and seascapes that fueled her to start these experiences.



“My inspiration stems from a desire to share the rich biodiversity of edible plants and seaweeds of South Africa and cultivate awareness about sustainable living,” she explains. “Our experiences employ a hands-on approach, I believe that direct engagement with nature during the workshops fosters a deeper understanding of the intricate relationships within these ecosystems, encouraging participants to develop a sense of responsibility, stewardship and joy for nature.” 



A typical workshop sees guests arrive on nearby Scarborough Beach, where the morning is spent foraging for edible seaweeds and mussels. In keeping with the sustainable undercurrent, only prolific seaweed and invasive mussel species are picked, in order to keep the ecosystem’s balance in check. After that, the group returns to the Veld &amp; Sea classroom in the nursery to cook and sit down to a three-course lunch, made entirely of foraged produce.



“We not only impart practical culinary and scientific knowledge about foraging and local flora but also weave together ecological principles and ethical considerations to nurture an environmentally-conscious community committed to the preservation of these delicate ecosystems,” adds Gray.



The workshops are guided by the seasons, with each one offering a unique experience, from beach gatherings for seaweeds and shellfish in summer to forest forays for wild mushrooms and acorns in autumn.



“What makes this space extraordinary is not just the edible variety of the plants, seaweeds, wild mushrooms, edible flowers, and herbs, but the profound relationships between them and their role in sustainable living practices.”



Foraging as a concept has been around for a while, particularly in the high-end restaurant scene. Top chefs like NOMA’s Rene Redzepi in Copenhagen and Magnus Nilsson of now-closed Fäviken, in remote Sweden, both made their names sourcing hyper-local and seasonal produce and serving it in a Michelin-starred context.



Through her workshops, Gray instils a sense of responsibility and respect for the rich biodiversity of the coastal and edible landscapes. “It’s the transformative power of hands-on learning in nature. It’s not just about foraging; it’s about unraveling the intricate stories behind these wildly delicious ingredients, understanding their ecological roles, and appreciating the delicate balance they contribute to these ecosystems,” she adds.



In some ways, it’s more than just a workshop or a meal.



“It’s about fostering a connection to nature that lasts a lifetime,” says Gray. This sentiment feels especially crucial in the context of the Western Cape, which is mostly known for its food, wine and beaches.



“Nature is a perfect living classroom, with our subjects surrounding us on all sides, offering immersive experiences that transcend traditional education,” she says. By using food and ecology as a medium for teaching, Gray hopes to foster a deep connection between guests and the environment, appealing to anyone with a sense of wonder and respect for South Africa’s incredible Western Cape ecosystem.

‘Foraging And Fostering Connections With Nature’: The Food Artist In South Africa’s Western Cape

Two years ago, non-fungible tokens were sizzling hot, as art aficionados and speculators pushed blockchain-based images to $27 billion in value. Now that the market has crashed, a much less ambitious version of NFTs are finding a welcome home in the marketing departments of corporate America.



<abbr>I</abbr>n the first week of October, non-fungible token (NFT) trading fell to its lowest weekly level since 2020, according to data from TheBlock, with only $50 million worth of digital collectibles exchanged on secondary markets. It was a bleak month for NFTs, whose trading volume plummeted from a record $3.2 billion a week in 2022 as prices slid to fractions of their crypto-boom highs.



The tepid activity came two weeks before Nike planned to sell more than 30,000 pairs of its popular Dunks sneakers in a collection linked to NFTs, with an increasingly popular twist that allowed non-blockchain buyers to get in on the action. Unlike virtually all of the previous efforts, buyers could pay by credit card instead of using cryptocurrency, snagging a custom-sized pair of Dunks in one of three color combinations, white and blue, black and purple and black and red.



Appealing to its traditional youthful buyers worked out for Nike, with the sale bringing in $7 million, or an average of about $230 a pair, and each Dunk owner would own a digital version of the sneaker on the ethereum blockchain. It’s a release model that has proven to be a useful marketing maneuver—in August 2022 Nike offered a 10-piece leisure apparel collection through its CloneX NFT line. The Beaverton, Oregon company, famous for its long relationship with Michael Jordan, has been selling NFT-related apparel since December 2022, when it released the auto-lacing CryptoKicks iRL collection of sneakers. Pieces from that inaugural offering that sold for about&nbsp;<a href="https://etherscan.io/tx/0x85e587dd74fa74b6b2e9fed91cf7be33b58ba79b6052db978c16e83d84af2bf6" target="_blank" rel="noreferrer noopener">$900&nbsp;</a>can now fetch up to $3,000 on sneaker resale sites like&nbsp;<a href="https://stockx.com/nike-rtfkt-cryptokicks-irl-ice" target="_blank" rel="noreferrer noopener">StockX</a>.



The Dunk Genesis collection “was a huge success,” says Steven Vasilev, co-founder of NFT studio RTFKT (pronounced “Artifact”), which was purchased by Nike in December 2021. “Even though the market is still down, our products are still bringing in new people.”



Non-fungible tokens are created, bought and sold on blockchains, like cryptocurrencies such as bitcoin and ether. But while each currency’s tokens are alike, every NFT is unique and can be used to reward users with various perks or be linked to objects in the real world. They can also be traded on numerous secondary markets like OpenSea.



The NFT landscape has drastically shifted in the two years since the tokens became part of mainstream art and pop culture. Barely more than a year ago, CryptoPunks, a collection of thousands of pixelated head shots and the cartoon simians of Bored Ape Yacht Club commanded multi-million-dollar price tags at auction. Now, the most expensive rarely trade for over $100,000. NFTs selling for over $10 million disappeared last year and companies born out of NFT collections, like Rektguy and Bored Apes purveyor Yuga Labs, are struggling to pivot their business models away from&nbsp;<a href="https://www.forbes.com/sites/digital-assets/2023/09/17/requiem-for-royalties-nft-exchanges-abandon-recurring-compensation-for-artists/?sh=5574c80d65da">royalty payments&nbsp;</a>generated by secondary sales. The overall market shrank to $9.5 billion of revenue last year from $26.7 billion in 2022, according to&nbsp;<a href="https://www.cryptoslam.io/nftglobal?headerPeriod=all&amp;timeFrame=year" target="_blank" rel="noreferrer noopener">CryptoSlam.</a>&nbsp;Emerging from the aftermath of the NFT craze are major companies that are embracing the tokens as a cutting-edge marketing device, helping them get closer to existing customers and woo new ones.



<hr class="wp-block-separator has-alpha-channel-opacity"/>



<h2 class="wp-block-heading" id="h-wither-nfts">Wither NFTs</h2>



Non-fungible token sales peaked in 2022 as digital images inscribed onto blockchains were at the center of pop culture. Two years later, sales are languishing.



<hr class="wp-block-separator has-alpha-channel-opacity"/>



“Where Nike serves athletes, we serve creators,” says Vasilev, who is a member of the Forbes 2023&nbsp;<a href="https://www.forbes.com/profile/steven-vasilev/?sh=754795392b81">30 Under 30 Retail and E-Commerce&nbsp;</a>list. “We don’t like the word NFT,” he adds, “We believe it&#8217;s too technical and confuses a lot of customers. So we prefer to call them ‘digital collectibles.’”



<hr class="wp-block-separator has-alpha-channel-opacity"/>



Sneaker companies like&nbsp;Nike are at the forefront of NFTs’ second coming, but they are not alone.



While eking out meaningful revenue or profit is a long way off, Corporate America is finding useful ways to employ the unique blockchain-based tokens in their marketing arsenals.



Some companies like Nike are incorporating NFTs into their products, bringing virtual images to physical reality. Credit-card giant Mastercard, for example, partnered with crypto neobank Hi to allow NFT users to showcase their own NFTs on the plastic cards in their wallet.



“The card designs and cards you use for payment are a reflection of who you are,” says Christian Rau, head of Mastercard’s crypto and fintech operations in Europe when the partnership launched in October 2022. Digital art on a credit card “basically allows consumers to display a physical manifestation of an NFT they really care about.”



Beyond physical branding, others have included blockchain elements into existing marketing strategies. Coca-Cola added NFTs to its global Masterpiece advertising campaign in June, in which the company’s iconic red-and-black bottles were passed around by animated versions of well-known artworks like Edvard Munch’s “The Scream” and Vincent Van Gogh’s “Bedroom in Arles.” In August, the company launched a series of digital artworks on Coinbase’s Base blockchain that put combinations of the famous paintings and contemporary works onto its soda bottles in a series of digital images linked to NFTs. Coca-Cola’s&nbsp;<a href="https://www.coca-colacompany.com/media-center/coca-cola--masterpiece--collection-fetches-more-than--500-000-in" target="_blank" rel="noreferrer noopener">drop</a>&nbsp;brought in $543,000 from the sale of 80,000 tokens.



The virtual tactic taps into the existing markets of Coca-Cola superfans and vintage container collectors, some of whom are willing to spend up to&nbsp;<a href="https://www.coca-colacompany.com/about-us/history/collecting-coca-cola-bottles" target="_blank" rel="noreferrer noopener">$4,000 at auction</a>&nbsp;for the rarest bottles. Coke’s NFTs, in comparison, allowed collectors the chance to buy in for $25 worth of ether to collect at the time of August 2023 sale.



There are also companies that are using NFTs to breathe new life into their loyalty programs. Starbucks, for example, launched a test version of its Odyssey loyalty program in December 2022, giving a select group of users access to online games and quests that generate NFT rewards. The tokens offer holders exclusive programs, including bonus Starbucks stars (the company’s loyalty points), access to specialty drinks, online cocktail-making classes and vacations.



Rewards are already coming in for existing Odyssey members. The top 20 points holders as of January 2024 will be invited to go on an all-expense paid trip to Costa Rica, where Starbucks owns its only coffee farm, according to a post on X by Odyssey executive&nbsp;<a href="https://x.com/NFTbark/status/1740080645588889872?s=20" target="_blank" rel="noreferrer noopener">Steve Kaczynski</a>.



Germany’s Lufthansa has taken a similar approach to loyalty, delivering commemorative NFTs for certain trips or destinations to users of the airline’s Uptrip platform, acting somewhat like digital stamps for passenger’s digital wallets. The service creates NFTs on the Polygon blockchain that can be&nbsp;<a href="https://lh-innovationhub.de/wp-content/uploads/2023/09/uptrip_pr_en.pdf" target="_blank" rel="noreferrer noopener">redeemed</a>&nbsp;for free in-flight WiFi, access to airport lounges and airline miles.



Technically, this kind of loyalty programs does not need to rely on blockchain technology to run, but using it could make the process cheaper, plus it gives Lufthansa&#8217;s customers the impression that the company embraces the latest tech. “Companies can have a lot of the tools of a loyalty program without having to build as much infrastructure,” says Paul Brody, global blockchain lead at consulting firm Ernst &amp; Young.



Because the goal of these collectibles is largely to keep users loyal to the issuing company, trading is discouraged, so you won&#8217;t see many of these NFTs racking up volume on marketplaces like OpenSea and Blur.



Still, Brody says, “it can turn out to be really great advertising…Your blockchain wallet is gonna become a bit like your public trophy case.”



The biggest hurdle companies may face in marketing– and expanding their markets–using NFTs may come from the nature of crypto assets. Getting hold of NFTs often includes adding browser extensions, obtaining a crypto wallet, creating lengthy passwords and transacting in digital currencies like ether, which can be daunting for the uninitiated.



That is part of the reason Nike’s Vasilev avoids the term NFT. It is also why RTFKT added an option to buy the physical sneaker first (without the NFT) using traditional credit card payment options instead of crypto. Doing so in the Dunk Genesis drop brought in new customers, Vasilev says, as 93% of buyers who bought the physical sneakers before the NFTs were first-time customers to RTFKT products. “We think this is a huge way to onboard new people,” he adds.



<hr class="wp-block-separator has-alpha-channel-opacity"/>



Sneaker companies may&nbsp;represent the perfect marriage of NFT technology and brand marketing, in particular because top brands already cultivate young buyers via an active collectibles market. Following Nike, Adidas and Puma are launching their own blockchain-compatible collections.



German athleticwear giant Adidas has taken a combined physical and digital approach to using NFTs. In August, the company partnered with Japanese streetwear brand BAPE to release a limited 100-pair edition of virtual white sneakers that could be used to buy the physical counterpart. In partnership with MoonPay, a crypto payment platform, users bid on the 100 items for 72 hours, before collecting their digital pair. Each NFT was tradeable, but they could also be redeemed for Adidas’ Forum Low 84 sneakers in an exclusive Triple White color pattern for holders willing to burn, or destroy, the NFT. The highest bid for a single pair of sneakers was almost $4,000, according to&nbsp;<a href="https://etherscan.io/tx/0xce3e4c4da6d1835dd0730df56bba440843d2e68a56b43a6512f010d62d9cd378" target="_blank" rel="noreferrer noopener">Etherscan</a>.



<hr class="wp-block-separator has-alpha-channel-opacity"/>



<abbr>M</abbr>ost of Adidas’ NFT&nbsp;explorations have remained within the virtual walls of the metaverse, releasing goods on gaming platforms and participating in<a href="https://www.forbes.com/sites/mariagraciasantillanalinares/2023/04/02/as-a-list-designers-peddle-metaverse-merch-decentralands-fashion-week-makes-a-muted-return/">&nbsp;Metaverse Fashion Week&nbsp;</a>in 2023.



Puma has adapted strategies used by both of its rivals. After experimenting with made-to-order sneakers for physical versions of an NFT collection it released earlier in 2022, it pivoted to first selling tokens that could be redeemed for a limited editions version of an existing running shoe called Fast-RB. For now, however, it is focusing on uses for its Puma Pass, a token that gives users early access to more NFT collections and on digital wearables to be used on gaming platforms.



“Just creating a profile picture collection or a loyalty program is low-hanging fruit,” says Ivan Dashkov, head of emerging technologies at Puma, who sees creativity as the key to blockchain success. “You really need to think of new, novel ways to use [blockchain] technology to reach, to interact with your customer.”



The use of NFTs as a marketing tool is still in its infancy. Almost no existing corporate marketing program has taken steps to implement permanent NFT programs, says Brody.



The emphasis is on experimentation and consumer use and, as trading on once-sizzling hot marketplaces like OpenSea continues to languish, no one is talking about the secondary market for NFTs.



Says Brody, “We&#8217;re headed for a future that is more and more NFTs as souvenirs and as public trophies and not as transferrable financial assets.”

BRITAIN-BLOCKCHAIN-NFT-TOKENS

Forget BoredApes And CryptoPunks, NFTs Are Making A Corporate Comeback

<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
&#8220;Much has been written about me…most of it is outright lies or half-truths. I have waited a long time to tell my story.”
</blockquote>



In her book, The Race to Be Myself, one of the biggest names in athletics not just in Africa but across the world, will tell the full story of the discrimination she has faced in her career. The quote above is from South Africa’s celebrated 32-year-old Olympic runner, Caster Semenya’s book, and she tells FORBES AFRICA the most important part of telling her story was being able to grow.



“Yes I have waited long to tell this story,” Semenya says. “For me, the most important thing was to grow to understand the principle of life, to understand myself and to know the person I am. [It was also about] discovering myself, to the extent that I understand myself better than anybody else.”



A two-time Olympic gold medallist and three-time World Athletics Championship gold medallist, born in Ga-Masehlong, a village near Polokwane in South Africa’s Limpopo province, Semenya not only tells the story of her rise to fame, but also with “conviction” spotlights the scrutiny of “not being woman enough”. Part of this narrative is looking at women in sport and how they are rarely placed under the same lens as their male counterparts. Semenya says she has been the “center of the debate around [the] newly-drawn line between gender and sport”, which continues today. 



In 2009, following her 800-meter win at the World Championships in Berlin, the questions regarding her gender began. In many reports, Semenya tells the story of how she had to undergo gender-verification tests. “What was humiliating was how they treated me,” she admits.



<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
“Not one of my competitors came to my defense of a fellow woman and runner, a teenager. Instead, they came with their knives. I would experience this again and again throughout my career.”
<cite>(Excerpt from The Race to Be Myself)</cite></blockquote>



In 2018, World Athletics, formerly known as the International Amateur Athletic Federation and International Association of Athletics Federations (IAAF), introduced new regulations, requiring competing athletes with Difference in Sex Development (DSD) to lower testosterone. This could be done through contraceptive use or other medical intervention, but the athletes’ testosterone level had to be below 5 nmol/liter for a continuous period of at least six months in order to compete. Semenya felt as though this directive was personal.



She says: “People or leaders tend to focus on the wrong aspects&#8230; If women’s sport [is] so important, why can’t you allow a woman to decide what is right and what is wrong? It has always been about the unfairness in women’s sport. And that should be corrected. We need to focus on the positivity. We should focus more on celebrating women winning, conquering, but also women being extraordinary. But instead, when [women do] great, they are questioned if they are ‘women enough’. And it will continue if we as women don’t take a stand.”

Tag: News Letter

FORBES AFRICA SOCIAL MEDIA