US’ Novajax acquires Jordan's Jobedu
- Jordan-based fashion brand Jobedu has been acquired by the US-based Web3 platform Novajax, for an unknown sum.
- Founded in 2007 by Tamer AlMasri and Alaa Mustafa, Jobedu is a streetwear Arab pop culture lifestyle brand.
- The acquisition complements Novajax’s goal to bridge the gap between the digital and physical worlds by leveraging blockchain technologies.
Jordan-based streetwear brand Jobedu gets acquired by US-based Web3 company Novajax. Jobedu is an Endeavor company founded in Amman, Jordan in 2007. It is a Middle East-based streetwear Arab pop culture lifestyle brand. It works 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.
Jobedu complements Novajax’s goal to bridge the gap between the digital and physical worlds by leveraging blockchain technologies. Tamer AlMasri, Cofounder 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, to the stepping stones of the metaverse. NFT technology is just the tech solution we need to further empower Jobedu’s creative community collaborations.” Ego’s Paradise, Novajax’s first PFP NFT project, is an NFT community comprised of 10K 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.
NFTs have the potential to empower creatives, IPs, and communities with seamless compensation and protection through blockchain technologies. Amer Ghanem, Cofounder 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.” Novajax recently raised its Seed round from US and KSA based VCs and Angel Investors.
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 endeavour. 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”
Jobedu is part of Oasis500’s Creative Industries portfolio, as well as a 500 Startups company as part of the 500Falcons fund. Luma Fawaz, CEO of Oasis500, shared her thoughts on the acquisition, “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!”.