A word I would use to describe the 21st century is innovation. The 21st century has changed the way a lot of things is being done. From payments, banking, and even work, to mention a few.
In terms of work, we have seen the so-called "gig economy" Upwork, fiver, uber and bolt comes to mind. However, there is a new kid in the block called "the creator economy", and Flutterwave seems interested as it acquires Disha - a platform that aids the creator economy.
What does this mean?
Flutterwave's acquisition of Disha allows creators to curate, showcase and receive payments for their hard work and creativity seamlessly. With this, digital creators and creatives have the power to do business with anyone anywhere in the world. Coverage is unlimited.
This is the first time Flutterwave is announcing the acquisition of a company and what makes the buy unique is that Disha is neither into payment nor a fintech startup.
The payment company might also be looking at the NFT marketplace and sees Disha as a route into this space. To quote Olugbenga Agboola, “Disha is a global tool and the global creator economy is enormous, and with NFTs growing in popularity, there’s no limit to how huge the creator economy can grow.”
Why is this important?
Flutterwave's acquisition of Disha creates an endless stream of opportunities for creators to connect with buyers across borders and earn value for their genius.
Disha provides a marketplace to view and buy freelancers' work and services on beautifully designed websites from the demand side. This can happen from anywhere across the globe and is not limited to a particular geography. This means that someone in Lagos can buy a digital product from a creative in Nairobi.
From the supply side, creators can easily accept payments internationally and instantly. For instance, if a purchase originates on Disha, creators can create a customised website and get paid through there. If the purchase does not originate on Disha, the freelancer can create and send a Flutterwave payment link to complete transactions.
If you are familiar with market structure and the economic principle that people respond to incentives, we might be seeing an influx of payment firms into this space. Chipper cash is one firm to look out for.
Earlier this year, Twitter launched a Tip Jar feature, which allows creators to receive money on its platform. The social media company integrated with some payments platforms to make it accessible in different regions. Chipper Cash was picked to offer the service to African creators through its payments link.
Sub Sahara Africa in focus
GDP: $1.686 trillion in 2020 compared to $1.77 trillion in 2019
Population: 1.136 billion in 2020 compared to 1.107 billion in 2019
GDP per capita: $1,483 in 2020 compared to $1,559 in 2019