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With the popularity of non-fungible tokens (NFTs) skyrocketing in 2021, Chainalysis tracked at least USD 44.2 billion in cryptocurrency sent to NFT-related smart contracts last year, up from USD 106 million in 2020.

Dubai is set to host the inaugural editions of the […]

According to a recent Kaspersky study, 72% of respondents in the UAE believe that NFTs will become more common, significant, and useful across a range of industries.

Saudi Arabia is the next stop for Web3 Delight! The well-known Web3-focused hybrid event will be held on March 6 at the Riyadh International Convention and Exhibition Center

Dubai Chamber of Digital Economy announced that it has received 153 applications from 27 countries for its newly launched Future of the Digital Economy: Business in the Metaverse academy, a first-of-its-kind specialized training programme designed to equip digital startups with the practical knowledge and tools they need to build and thrive in the metaverse.

Mohammed bin Rashid Space Centre (MBRSC) has announced its participation in the development of the Metaverse, which will simulate the UAE's manned Mars mission in 2117. BEDU, Dubai's foremost pioneer in Web3 technologies and solutions, will lead this first-of-its-kind project. The 2117 Metaverse project, which has been formalized through a memorandum of understanding, will involve close collaboration between MBRSC and BEDU. BEDU will contribute its expertise to the development of the 2117 Metaverse.

The strategy aims at creating around 40,000 virtual jobs and being counted in the top 10 cities for the metaverse sector. It also highlights metaverse contributing around AED 4 million to the UAE economy. According to analysts, the metaverse will contribute up to US$5 trillion to the global economy by 2030.

NFTs represent a golden opportunity for organisations looking to take back control of their brands and grow their online communities, according to Ali Sajwani, CEO of D-Labs and General Manager – Operations at UAE-headquartered DAMAC Properties.

NFTs are digital assets that have unique codes stored on the blockchain that prove their authenticity and ownership. With 5G delivering lower latency, quicker speeds, and lower capacity, there are no limits to the innovative ways this technology can be applied in the NFTs industry. The network that supports NFTs must provide lightning-fast connectivity to allow bidding down to the millisecond.

Check Point Software Technologies Ltd., a global provider of cyber security solutions, warns users of the persistent dangers of cryptocurrencies and offers recommendations to keep wallets secure on Bitcoin Day 2022.