Press Release.
Novajax, a US based Web3 company, acquires Jobedu, after raising its seed round from US and KSA based VCs and Angel Investors. Jobedu is a Middle East-based streetwear Arab pop culture lifestyle brand.
Founded in Amman, Jordan in 2007, Jobedu has worked with designers, illustrators and international IP holders to produce their works on high quality affordable apparel and accessories for retail and distribution throughout the MENA region and globally through their website.
Jobedu complements Novajax’s goal to bridge the gap between digital and physical worlds by leveraging blockchain technologies. Tamer AlMasri, Co-Founder of Jobedu, asserts: “Jobedu’s journey started in 2007, at a street market, with 6 designs on 600 t-shirts. That path has led us here, at the stepping tones of the metaverse. NFT technology is just the tech solution we need to further empower Jobedu’s creative community collaborations.”
NFTs have the potential to empower creatives, IPs, and communities with seamless compensation and protection through blockchain technologies. Amer Ghanem, Co-Founder of Novajax explains “ NFT technologies are developing rapidly with many traditional companies moving to the web3 ecosystem. Novajax is excited to onboard Jobedu to its family and bring exciting new tech to the MENA region and globally.”
Commenting on the potential of connecting NFTs, community, fashion and gaming Naif Mulaeb, Founder of Playhera and Novajax investor, said “This is the beginning of a great endeavor. Leveraging the heritage of the beloved street fashion brand to web3 will allow a greater range of creativity and innovation. The unique synergy between the new tech of NFTs and community fashion production will make the difference and hopefully become the benchmark within this stream”
On the acquisition, Luma Fawaz, CEO of Oasis500, said: “The acquisition of Jobedu reflects Novajax’s insight into what’s distinctive about the brand and its creative community and cross-sight about the complementarity, revealing colossal value. We are excited about what’s next!”
Jobedu is an Endeavor company and part of Oasis500’s Creative Industries portfolio, as well as a 500 Startups company as part of the 500Falcons fund.
Ego’s Paradise, Novajax’s first PFP NFT project, is an NFT community comprised of 10,000 PFPs hand drawn by Tamer AlMasri, for entrepreneurs, global shapers, dreamers and creatives of all kinds to share advice, create connections and support one another toward their individual and shared goals.