Gulf Crypto Insight: Hot crypto news from the MENA region – September 30

    01 Oct 2022
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    Top crypto news from the Middle East region over the last week (Sept. 24–30, 2022):

    First metaverse project 2117 launches in the UAE inspired by Dubai ruler’s vision

    The UAE-based Web3 pioneer BEDU launched the country’s first metaverse project under the name 2117, inspired by the ruler of Dubai Sheikh Mohammed bin Rashid Al-Maktoum’s vision to build the first colony on Mars.

    BEDU’s CEO Amin Alzarouni told Arab News that the metaverse’s name, 2117, comes from Sheikh Mohammed bin Rashid Al-Maktoum’s announcement in 2017 that the first colony on Mars would be built a hundred years from then.

    “Superstar” Ragheb Alama and “LM3ALLEM” Saad Lamjarred to give the first-ever avatar concert in the Arab world

    MetaBoundless is hosting the first-ever Avatar Concert in the metaverse in the Arab world on October 20th, 2022. The virtual “Concert of the Future” – A Step into the Metaverse will feature the iconic Arabic superstars Ragheb Alama, Saad Lamjarred, and Michel Fadel, who will appear in front of a global audience as digital avatars.

    MetaBoundless has partnered with the Algorand Foundation for this concert to mint NFTs for each concert-goer, serving as their digital ticket into the show. The tickets also give NFT rewards and unique benefits through the MetaBoundless claims portal.

    CNBC Arabia’s ‘On the Chain’ show reflects Dubai’s cutting-edge crypto influence

    CNBC Arabia is expanding crypto’s influence within the Middle East with the launch of its first-ever crypto show, called ‘On the Chain.’ The show is sponsored by Wemade, a well-known South Korean video game developer now with extensive roots within the blockchain gaming and Web3 worlds.

    Cigrek Capital sets up its shop in Dubai

    The Scottish firm Cigrek Capital has set up shop in Dubai and launched its solution for managers of digital assets strategies simultaneously in Dubai and the EU this month.

    Explaining the rationale behind launching in Dubai, company founder, and Managing Director Laura Barscevska, said, “The new platform is designed to match leading investment talent in the digital universe with wealthy investors in the Gulf who want more exposure to this asset class.”

    AntNetworX collabs with Biconomy to build the next generation dApps

    AntNetworX, a decentralized network with a headquarters in Dubai that aims to build a suite of scalable, user-friendly dApps with real-life utilities, has partnered up with Binance-listed Biconomy, a multi-layer protocol that allows gasless transactions. AntNetworX plans to develop a wide range of dApps and platforms that offer real-life utilities and expedite the mass adoption of crypto.

    Crypto Oasis hosts three Web3-related sessions at the Dubai Metaverse Assembly

    The inaugural Dubai Metaverse Assembly, announced by Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, and organized by the Dubai Future Foundation, took place on September 28 and 29. The Crypto Oasis, the fast-growing blockchain and Web3 ecosystem, hosted the three sessions at the event that brought together regional and international experts in Dubai to shape the future of the metaverse. The Crypto Oasis participated in the metaverse assembly among over 300 global experts, policymakers, thought leaders, and decision-makers from more than 40 organizations.

    UAE Ministry of Economy opens its headquarters in the Metaverse

    The UAE Ministry of Economy has announced its new headquarters located in the Metaverse. According to Gulf News, the announcement was made on Sept. 28 by UAE Minister of Economy Abdulla bin Touq Al Marri during the Dubai Metaverse Assembly, promising a live tour of the virtual headquarters soon.

    The headquarters will feature a multiple-story building, each serving a different purpose. Visitors will be able to take a ticket, which will prompt a “customer happiness center employee” to join the Metaverse and interact with the visitor.

    Kevin O’Leary became UAE’s citizen and launches the Web3 fund with backing from the UAE

    Kevin O’Leary plans to launch a Web3-focused investment fund called Cipher, the Shark Tank investor said at the Converge22 blockchain and cryptocurrency conference in San Francisco. The Canadian entrepreneur said he recently became a citizen of the UAE to “work freely” in a region that has attracted investment by some of crypto’s heaviest hitters, including exchanges FTX, Binance, and Crypto.com.

    O’Leary revealed that the new all-Web3 fund’s lead investor comes from the United Arab Emirates. “There’s a tremendous amount of capital and interest there to invest in this space,” he added.

    Shuraa Group launches educational consulting, auditing, and crypto payment solutions

    Shahid Rather, the Managing Partner of Shuraa Group, has announced the expansion of his company, which specializes in end-to-end corporate solutions for investors in Dubai. Shahid Rather foresees a great boost in the upcoming fiscal year, expecting the significant impact of upcoming events, such as FIFA 2022, on UAE’s economy.

    Shuraa Group aims to become the one-stop solution for business and lifestyle in Dubai, including a global education consultancy vertical, external auditing services, and the introduction of cryptocurrency payment options.

    Bikeera to offer Binance Pay in the UAE

    UAE-based Bikeera is teaming up with Binance to accept virtual asset payments for the purchase of bicycles, scooters, electric mobility vehicles, gears, and services on their website or in their store in Dubai.

    The alliance makes Bikeera one of the first companies in the UAE to accept virtual asset payments through Binance Pay, and the first cycling/mobility company to offer customers the choice of paying in cryptocurrencies.

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