SandBox metaverse expands operations in Saudi with SandSoft collaboration

SandBox metaverse expands operations in Saudi with SandSoft collaboration

The Sandbox metaverse has announced further expansion into Saudi Arabia through a partnership with SandSoft, a Saudi based game developer, publishers, and investor powered by AAA talent.

Sandsoft will be a key partner in The Sandbox’s expansion into Saudi Arabia and the Middle East and will also be a driver in attracting local talent in the video game sector and growing education and job opportunities within the region.

The collaboration aims at building a team of Web3 gaming experts to create partnerships with local public and private industry actors, entertainment, IPs & Brands and celebrities to explore opportunities in gamified social experiences in The Sandbox, and to empower local creative talent by educating and onboarding developers and artists into its ecosystem.

“We’re excited to collaborate with Sandsoft in bringing new creators to contribute towards the open Metaverse and develop together a virtual neighborhood on our map. This partnership will allow brands and creators across Saudi Arabia and the Middle East to discover the creative opportunities The Sandbox provides,” said Sebastien Borget, COO and co-founder of The Sandbox. “It will also enrich The Sandbox’s global ecosystem with Saudi Arabia’s rich culture and history.”

“The Sandbox has great potential for game developers, creatives, brands and consumers from the Middle East and North Africa,” said David Fernandez, CEO of Sandsoft. “We’re pleased to announce this collaboration, which will drive opportunities for vibrant and diverse communities in Saudi Arabia and beyond, expanding on Sandsoft’s existing initiatives to nurture talent in the local gaming ecosystem.”

With a diverse global team of more than 60 people, Sandsoft is on a trajectory to become a leading mobile-first gaming powerhouse. Sandsoft’s ‘Press Start’ internship program aims to provide opportunities for talented young people in Saudi Arabia to enhance their game development skills under the supervision of leading games industry figures including VP Studio Yahsir Qureshi (formerly of EA, Zynga) and CTO Ahmed Sharif (previously at Meta, Sony, EA).

Saudi headquartered Blockchain insuretech startup TakaDAO raises $1.6 million

Saudi headquartered Blockchain insuretech startup TakaDAO raises $1.6 million

Saudi headquartered Blockchain Fintech startup, Takadao, has raised $1.6 million in pre seed round led by Draper Associates. Other investors include BIM, Core Vision ventures, Prince Sultan Bin Fahad bin Salman Al Saud.

Takadao builds community-owned financial services on the blockchain, with two flagship products in savings and loans (Takaturn) and cooperative life insurance. Takadao’s products are Shariah-compliant and target the Muslim population globally.

According to the Pew Research Centre: “Globally, the Muslim population is forecast to grow at about twice the rate of the non-Muslim population over the next two decades – an average annual growth rate of 1.5% for Muslims, compared with 0.7% for non-Muslims. If current trends continue, Muslims will make up 26.4% of the world’s total projected population of 8.3 billion in 2030, up from 23.4% of the estimated 2010 world population of 6.9 billion”.

Islamic finance grew 17% in 2021 to $4 trillion and is forecasted to keep growing in double digits for the next five years. Takadao extends the reach of Islamic finance by providing shariah-compliant loans and insurance through the blockchain, enabling global access even in countries where populations are largely unbanked.

Co-founder and COO, Sharene Lee, states: “Many of us, Muslims and otherwise, live in countries with unstable economies, weak currencies and high inflation. There is low access to the traditional banking system coupled with increasing distrust. Banks and insurance companies exist to increase shareholder value and this takes priority over consumer well-being. At Takadao, we build community-owned financial services whose shareholders are the users themselves. By vesting ownership with the end users, we ensure that their well-being is the primary focus. Furthermore, shareholder profits get redistributed among the end users. The only way we can do this is through the decentralized blockchain and cryptocurrencies.”

To this end, Takadao has two complementary products, Takaturn and Takasure. Takaturn is based on the ROSCA concept, commonly known as Jamaiyah in the Middle East, Ballot Committee in Pakistan, Tontine in parts of Africa, and chit fund in India. Takasure is a cooperative insurance product based on the Takaful model; it is still in development with an anticipated launch date of June 2024.

This marks the first investment for Tim Draper in a Saudi-based startup. Draper’s investment track record in Baidu, Skype, and Hotmail all precipitated significant changes in consumer behavior that have become the norm today, whether it’s email, search or voip. In recent times, Draper has backed Robinhood and Coinbase and significantly, he is an outspoken advocate of Bitcoin and decentralized finance.

On why he decided to invest, Draper said: “Takadao is one of those companies that you don’t know quite where it’s going to go, but if it succeeds, it’s going to be really impactful and make a big difference in the world and this is a world that I want to live in. The insurance business generally has become corrupted and Takadao is going right after the insurance business with something that’s very pure; the blockchain is pure, Bitcoin is pure, decentralization is pure.”

Takadao has a community of 10,000+ members that is growing by 5% week-on-week.

Abu Dhabi Customs launches Blockchain Trade Chain and signs agreement with CargoX

Abu Dhabi Customs launches Blockchain Trade Chain and signs agreement with CargoX

As promised the Abu Dhabi Customs, during Gitex 2023 launched its expanded version of Invisible Customs System blockchain enabled Trade Chain as well as a cooperation agreement with Blockchain entity CargoX a blockchain platform in the logistics industry.  This advanced platform integrates with global blockchain platforms specialized in trade, providing benefits like improving customs operations performance, enhancing the reliability of information sources, and processing information proactively and quickly through a safe and secure platform.

The platform enhances the capability to monitor shipments, as well as the shipping and clearance procedures. It can also predict delivery times, contributing to reduced effort and costs associated with customs clearance. Furthermore, it facilitates seamless communication with trade partners and enhances supply chain security.

The platform also enhances the speed of data exchange with connected entities and guarantees the confidentiality of data shared with customs authorities and other entities using the platform. This results in a reduction of up to 80 percent in the time and effort required for goods clearance.

Rashed Lahej Al Mansoori, Director General of Abu Dhabi Customs, said that the launch of the advanced customs platform “Trade Chain” comes within the framework of Abu Dhabi Customs’ ongoing efforts to facilitate trade, bolster security and safeguard society, by adopting advanced technologies to enhance its customs system and consolidate its pioneering position, in line with the directives of the wise leadership, and the economic visions for the Emirate of Abu Dhabi and the UAE, through continuous foresight for the future and keeping pace with innovation in trade facilitation and the opportunities that the Fourth Industrial Revolution technology brings to increase efficiency and effectiveness and save time, effort and cost within all customs transactions, especially through establishing coordinated, effective, integrated and digital border management systems, ensuring invisible customs and governed borders that are both open and secure.

Abu Dhabi Customs, represented by Fahad Ghareeb Al Shamsi, Executive Director of Support Services Sector, also signed an agreement with CargoX on the sidelines of the Trade Chain platform launch at GITEX, represented by Vjeran Ortynski, VP of Business Development.” regarding data transfer via the blockchain platform.

The cooperation agreement aims to establish a framework for implementing blockchain projects and enhancing relations between the two parties to provide better services to Abu Dhabi Customs clients and clear shipments before arrival, as well as exchange expertise and information and meet business requirements and optimal use of the capabilities and expertise of both parties in areas of mutual interest.

Areas of cooperation include benefiting from the use of the Advance Cargo Information System, providing a blockchain data transfer solution to be presented to importers and exporters of goods through maritime ports in the Emirate of Abu Dhabi to facilitate the flow of maritime imports and exports.

According to a study conducted by the World Economic Forum, the global market value of blockchain technology in the customs field is expected to grow to $20 billion by 2025, saving up to $200 billion annually in global customs costs.

This is not the first agreement for CargoX in the region. In 2021, The Egyptian government through its Egyptian Customs Authorities, made mandatory Advance Cargo Information (ACI) declarations under its new Egyptian Customs law #207 for all cargo inbound to Egypt. The process is currently managed through the Blockchain enabled National Single Window for Foreign Trade platform (NAFEZA), built by Misr Technology Systems (MTS), where Blockchain enabled platform CargoX was authorized as the blockchain e-documents transfer gateway services provider.

The CargoX Blockchain platform helped the Egyptian government shorten cargo release times from 29 days to under 9 days, reduce import compliance cost from more than 600 USD to under 165 USD, and improve efficiency in cargo import risk assessment, tax revenue collection, and overall cargo flow transparency.

In August 2023, Uganda’s Presidential Advisory Committee on Exports and Industrial Development (PACEID) signed the Memorandum of Understanding (MoU) with the Technology Associates & CargoX consortium (TA-CargoX). The MoU aims to establish TradeXchange, a national trade facilitation platform. PACEID’s objective with this strategic technology partnership is to support exporters, resolve trade bottlenecks, easily comply with global trade standards and buttress Uganda’s ambitious goal of doubling its exports by 2026.

The CargoX Platform for Blockchain Document Transfer (BDT) is used by more than 115,000 companies worldwide, and has processed more than 5,3+ million electronic trade documents to date, without noticeable downtimes or operation failures.

Swiss based Dfinity Foundation launches ICP Hub GCC and supports UAE recycling project

Swiss based Dfinity Foundation launches ICP Hub GCC and supports UAE recycling project

Dfinity Foundation a major contributor to the Internet Computer Platform (ICP) blockchain and a Swiss-based not-for-profit organization with the largest R&D team in blockchain is making waves in the MENA and Asian region with partnerships such as with Roland Berger on UAE launched Voluntary recycling credits, as well as a $20 million grant to Asian startups and grants to MENA based startups such as ChainSight, an inter-chain data processing network to be able to use on-chain data with smart contracts.

The Internet Computer is a general-purpose, layer one blockchain that acts as a Cloud 3.0. The network has been operating for over two years, and has grown its daily transactions size to over 750 million, a 425% increase from its first year of operation. Notably, Dfinity Foundation asserts that its service has been provided with zero downtime.

Partnership with UAE Recycling Project

Most recently Roland Berger, a global strategic management consultancy firm with a strong presence in MENA selected Switzerland-based Dfinity Foundation as the technology partner for the development of the ‘Voluntary Recycling Credits’ standard announced by UAE’s BEEAH Group  with Roland Berger and the International Solid Waste Association.

As per their announcement the three companies aim to develop a new standard powered by the blockchain that can help beef up recycling numbers in the waste sector. As such businesses with sparse recycling infrastructure who are keen on aligning with Sustainable Development Goals can buy credits on the forthcoming marketplace. These credits are provided by companies with surplus recycling capabilities. Meanwhile, the flow of funds will free up more money to boost investment in further enhancement and emerging recycling technologies.

“We have a unique opportunity to redefine waste management and make tangible strides in environmental stewardship,” said Hani Tohme, managing partner at Roland Berger in the Middle East.

The Voluntary Recycling Credits standard is being built on blockchain technology. According to the initiators, blockchain is a “foundational element critical to the success” of the standard, guaranteeing a transparent, auditable, and secure record of recycling credits and transactions. “This transparency ensures that all parties – whether waste producers or recyclers – can trust in the veracity of the credits they purchase, sell, or trade.”

“Selecting the right blockchain technology that harmoniously balances decentralization, security, usability and storage space is key for a project of this importance. We are happy to have selected Dfinity Foundation as our technology partner. The Internet Computer is one of the most advanced blockchains in the world, its efficacy and security make it the perfect platform to build this project on,” said Pierre Samaties, partner at Roland Berger.

“We are honored to have been selected by the Roland Berger team to collaborate on the Voluntary Recycling Credit. This initiative aligns with the core values of our team at Dfinity and Internet Computer, as we always look to ensure the blockchain remains at the forefront of sustainability and work with leading enterprises,” said Dominic Williams, Founder of Dfinity Foundation.

Through the partnership, Dfinity Foundation will develop the underlying technology for standard. The first milestone will take place at COP28 in Dubai, when the private-public coalition behind the standard will display the first-ever live recycling credits transaction.

Launch of ICP Hub GCC

As part of Dfinity’s efforts to support the ICP blockchain platform, ICP Hub GCC has been launched to support the growth of the ICP ecosystem in the GCC ( Gulf Cooperation Council) region as well as the in MENA region.

Saed Ereiqat, Co-Founder of ICP Hub GCC tells LaraontheBlock, “The UAE is undoubtedly amongst the most advanced countries to deploy and develop on Web3 and Blockchain. It was therefore only a matter of time, that the ICP.Hub GCC launched in the UAE, where it is accelerating the mass adoption of the Internet Computer Protocol in the Gulf Region.”

As per Saed the ICP.HUB GCC has ambitious plans in the region as a community based project aiming to empower users and providing a robust platform for the development and hosting of secure software systems and open internet services.

ICP.HUB GCC is supported by Dubai based Crypto Oasis while partnering with UAE VC firm Cypher Capita. .Together with local Education Institutes, the hub aims to further raise awareness and provide education for young developers and entrepreneurs to learn about Blockchain and how to effectively apply it for future-ready developments. Investors are offered an opportunity to invest in the rapidly expanding Ecosystem and projects therein.

Through its grant program UAE based ChainSight an inter-chain data processing network to be able to use on-chain data with smart contracts.  ChainSight gains financial and technical support and with the connection to the hub, they are also provided with community support and communities to raise awareness for their development.

Abu Dhabi Government showcases updated Blockchain enabled TAMM platform

Abu Dhabi Government showcases updated Blockchain enabled TAMM platform

Abu Dhabi Government at Gitex 2023 showcased projects and initiatives across many fields and areas were highlighted, including cybersecurity, artificial intelligence, blockchain technology and analytics, all to leverage technology and innovation to deliver service excellence and an enhanced customer experience.

The latest iteration of the Abu Dhabi Government Services Unified Platform, blockchain enabled TAMM, showcased by the Department of Government Enablement, means customers can now access more than 750 services from over 30 Abu Dhabi government entities and numerous private sector providers. The new version also brings a slew of enhancements and features. The platform – now publicly available – was built on feedback from the public, coupled with the latest technological and customer-centric advancements.

“The latest version of TAMM was only made possible by collaboration between more than 30 Abu Dhabi Government entities, all working together towards achieving the government’s vision of enabling the Emirate’s people and communities through innovation and digitalisation,” said Ahmed Tamim Hisham Al Kuttab, Chairman of the Department of Government Enablement – Abu Dhabi.

“In alignment with Abu Dhabi’s digital transformation strategy, our ambition is to create an advanced digital ecosystem that reflects the aspirations of our people and sets a new global benchmark for how government services are delivered,” he added.

Dr. Mohamed Abdel Hameed Al Askar, Representative of the Abu Dhabi Government Services Unified Platform “TAMM” at DGE, said, “Thanks to the insights of citizens and residents across Abu Dhabi, the latest version of TAMM has been developed to prioritize user needs, creating a more enhanced, customer-centric and personalized platform that simplifies access to government and private sector services for residents and businesses alike.”

Meanwhile, the Abu Dhabi Housing Authority (ADHA) introduced the ISKAN Abu Dhabi app based on state-of-the-art technology. This digital customer service portal changes the way customers interact with ADHA. The app empowers individuals to explore housing and land options, access detailed information and make informed decisions about housing plans without the need for physical visits or extensive paperwork.

“The Abu Dhabi Housing Authority is working to adopt the latest technologies and innovative systems set to enhance the effectiveness and efficiency of housing services provided on various platforms to customers. We’re committed to enhancing the customer journey by simplifying procedures and enabling customers to obtain housing services to increase customer satisfaction, reduce waiting time and expedite the application process,” said Hamad Hareb Al Muhairi, Director-General of ADHA.

Abu Dhabi Customs (ADC) unveiled a groundbreaking project focusing on implementing blockchain technology within their customs systems to establish a robust risk analysis system based on reliable data. This initiative aims to create an interoperable system that aligns with future business requirements.

In 2020, the Abu Dhabi Government Services ecosystem, TAMM has launched the second phase of its innovative blockhain enabled digital payment platform “Abu Dhabi Pay”.  

The MENA Fintech Association establishes digital assets working group

The MENA Fintech Association establishes digital assets working group

The MENA Fintech association, a nonprofit organization that serves fintech startups and established players in the sector has established its Digital Assets Working Group which will be co-chaired by Miriam Kiwan and Mo Ali Yusuf.

The Digital Assets Working Group will champion a transparent regulatory framework, while propelling the adoption and extensive use of digital assets across MENA.

Founded in 2018, the MENA Fintech Association has earned recognition as one of the top 4 fintech bodies globally. With a strong presence in the Middle East and Africa, the association has been at the forefront of driving innovation and fostering collaboration in the fintech industry.

The newly established Digital Assets Working Group takes on a pivotal role as the leading advocate and catalyst for the advancement of clear, progressive, and sustainable regulations governing digital assets across the MENA (Middle East and North Africa) region. This dynamic group will spearhead endeavors aimed at shaping and enhancing a comprehensive regulatory framework, cultivating an ecosystem conducive to digital asset innovation, all while upholding stability and security as paramount priorities.

Nameer Khan, Chairman, MENA Fintech Association, expressed his enthusiastic support for the establishment of the Digital Assets Working Group, stating, “In our journey toward shaping the future of finance, we believe that clear and innovative digital asset regulation is the cornerstone. This group will be instrumental in fostering a dynamic and secure digital asset ecosystem across MENA. We are committed to embracing technological advancements while safeguarding the integrity of our financial landscape, and the Digital Assets Working Group is a vital step in that direction.”

Miriam Kiwan, Vice President of Middle East and Africa at Circle and Co-Chair of the Digital Assets Working Group, emphasized the group’s mission by stating, ‘Our vision is to drive innovation with responsibility, and our commitment to building a regulatory framework that supports the dynamic digital asset landscape is unwavering. As we take the lead in shaping the future of digital assets across MENA, we aim to create an environment that encourages innovation, ensures compliance, and promotes trust within this transformative ecosystem.’

Miriam’s professional journey has seen her excel across diverse sectors, ranging from financial services and Web 3 / digital assets to technology, higher education, and entrepreneurship. Her forward-thinking approach and multifaceted skill set have consistently driven innovation and growth, making her a prominent figure in these dynamic industries with a global impact.

Mo Ali Yusuf, CEO of Fuze and Co-Chair of the Digital Assets Working Group, underscored the group’s mission, stating, “We believe that digital assets represent the future of finance, and our goal is to facilitate their responsible growth and adoption. The Digital Assets Working Group is dedicated to developing robust regulations that foster innovation, security, and transparency. Together, we aim to shape MENA’s digital asset landscape into a trusted and flourishing ecosystem, benefiting both businesses and consumers alike.”

Mo’s career is marked by a track record of securing licenses, fostering key collaborations, and ensuring top-tier operational efficiency. He stands as a visionary at the forefront of innovation in these dynamic industries, shaping their future on a global scale.

Ronit Ghose is a distinguished figure in the tech and venture capital landscape, serving as an Advisory Board member for various prominent firms and a leading university in diverse global hubs such as Dubai, London, and Cape Town. His illustrious career includes a background in policy work, even having served as a bag carrier for a former UK Prime Minister, reflecting his deep involvement in the political sphere. Ronit’s expertise and influence extend into the realm of fintech, where he will play an integral role as a member of the MENA Fintech Association Digital Assets Working Group, further contributing to the evolution of this dynamic sector.

The MENA Fintech Association has partnered up with various companies such as Fuze, Circle, Binance, Meta, Circle, ADGM, DIFC, and other trailblazers across the spectrum of regulators, innovators, academia, legal firms, and venture capitalists.

BSV Blockchain and MENA tech entity Silverline to showcase digital passports at Gitex 2023

BSV Blockchain and MENA tech entity Silverline to showcase digital passports at Gitex 2023

MENA based Silverline, leading technology company specializing in innovative solutions for public and private sector in the MENA  focusing on security, data integrity, and digital transformation, in partnership with BSV Blockchain are hosting an event at Gitex 2023 to showcase latest innovations in security, data integrity, digital passports, payment services, governmental solutions, that will be running on BSV Tera node solution with over 2.9 billion transactions since 2018 and the new unbounded scaling up to 1 million transaction per second in 2024.

GITEX Global, the world’s largest tech event, will provide the perfect platform for this groundbreaking event. From October 16th to 20th, at the Dubai World Trade Centre, attendees will have the opportunity to explore the transformative power of technology and witness how blockchain is revolutionizing industries and talk to the BSV web3.0 integrators that will be available on the stand (Silverline, Nchain, Smart Ledger, Vaionex, Unisot, Elas, Timechain labs, Gate2Chain, Certhash, Capital  tegmant, Manufact, Neucron).

BSV blockchain and Sharjah University launched its blockchain pilot to develop a blockchain metaverse system to preserve the UAE culture and heritage.

China’s Bitcoin and Blockchain manufacturer Canaan to install 100 MW crypto mining site in Oman

China’s Bitcoin and Blockchain manufacturer Canaan to install 100 MW crypto mining site in Oman

China’s Bitcoin crypto mining and Blockchain hardware manufacturer, Canaan, has signed a crypto mining agreement with Oman’s Green Data city to pilot phase of a new crypto mining operation in Oman.

The new site will be installed in the facility of Green Data City, and under the agreement, Canaan has the option to expand the total capacity to up to 100MW.

The crypto mining operations in Oman will start in Q4 of 2023.

In August 2023 Oman’s Green Data City and Abu Dhabi’s Phoenix Group signed an agreement to develop a 150MW crypto-mining farm in Oman. The new farm will be set up in Green Data City was noted that it will be operational by Q2 2024, becoming one of the largest crypto-mining data centers in the region.

Phoenix Group is experienced in the development, operation, and management of crypto data centers. It is also the exclusive distributor of industry-leading mining equipment, MicroBT.

Oman was chosen as a location due to the long-term security provided by the Green Data City mining license, the entities’ common vision to develop cryptocurrencies mining and AI applications with the Ministry of Transport, Communication and IT (MTCIT), and the cooler weather in Oman, in particular in the region of Dhofar, which reduces the cooling energy consumption to a minimum, making the sultanate a sustainable destination for mining in the region.

The deployment will start with the new Avalon Box mining container featuring immersion cooling. The project also has the potential to deploy Canaan’s other advanced products, including the latest series A14 Avalon miners with a record efficiency of 20J/T, later in
2024.

Green Data City LLC is the company that operates the first license for sustainable crypto-mining in Oman since 2022. International mining companies can register and operate in Green Data City with long term agreements. The first phase of development consists of 200MW of mining capacity, the second phase will reach 400MW hyperscale data center capacity with natural cooling, renewable energies and downstream applications.

NBA stars collaborate with UAE Blockchain iBLOXX studios on Web3 shooter game

NBA stars collaborate with UAE Blockchain iBLOXX studios on Web3 shooter game

iBLOXX Studios announced that their upcoming third-person Web3 shooter, StrayShot (previously recognized as 0xBattleGround), will feature the entire Big Baller Brand family as playable in-game characters. This exciting collaboration will bring NBA Stars LaMelo and Lonzo as well as LiAngelo, LaVar and Tina Ball to life in the virtual world, allowing players to step into their shoes and experience the thrill of the game.

StrayShot is a third-person shooter game designed to deliver an adrenaline-charged experience for gamers of all skill levels. In StrayShot, players become bounty hunters, competing in intense matches with various unique characters, exciting game modes, and ultimately trying to qualify for the monthly tournament which features substantial prize pools.

The exciting collaboration introduces the basketball giants as in-game playable characters, set to be available after the official launch of StrayShot on their in-game marketplace as well as OpenSea and others. Distinct from the majority of Blockchain-based games, StrayShot has been meticulously crafted to prioritize a top-tier gaming experience, subtly integrating Web3 functionalities in the background to enhance, not overshadow, the gameplay. The seamless Web3 gameplay is enabled both by a user-friendly UX design and by the gas-free, high-speed performance of SKALE Network.

Domenik Maier, CEO of iBLOXX Studios, shared his excitement: “Collaborating with the iconic Ball family on StrayShot feels like a slam dunk. Their innovative spirit and influence align perfectly with our ambition, and together, we’re ready to redefine gaming.”

The Ball family is more than just a basketball sensation; they’re an emerging sports empire. LaMelo Ball recently inked a staggering $260 million contract with the Charlotte Hornets, one of the most substantial in basketball history. He is a recognized NBA All-Star, Rookie of the Year, and is regarded as one of the top 5 basketball talents under 22 globally. Alongside his older brother, Lonzo Ball, initially the number 2 draft pick by the Los Angeles Lakers and an All-

Rookie Team honoree, who made a significant impact with the Chicago Bulls, driving them to the Eastern Conference’s top seed before a knee injury sidelined him.

Beyond the court, they’ve marked their territory in the fashion scene with the successful launch of clothing line, Big Baller Brand, in 2016.Their recent venture into gaming with StrayShot
further cements their status as influential figures in sports and entertainment with their trajectory only pointing north.

The Ball family is excited about the opportunity to play directly with their fans in StrayShot. LaVar Ball said, “My boys and me will not only dominate the basketball court, we will also dominate the battleground in StrayShot!“

In February 2023, UAE based Blockchain gaming entity, iBLOXX,Studio secured a $5 million investment in a recent funding round led by PrimeXM. The capital will be utilized to expand the company’s GameFi division. The investment brings the gaming division’s post-money valuation to 30 million USD.

Oman Blockchain digital identity startup selected by Swiss accelerator

Oman Blockchain digital identity startup selected by Swiss accelerator

The Oman blockchain ID tech startup, Nashid has been selected by Swiss Tech4trust accelerator to participate in their program out of Trust Valley of Lausanne, Switzerland.

Nashid’s acceptance into Tech4Trust’s latest season underscores their pioneering approach to harnessing blockchain technology for Identity and Verifiable Credentials.

“Being part of Tech4Trust is a significant stride towards our global expansion ambitions,” shared Ahmed Al Marjeby, Co-founder and CEO of Nashid. “We are enthusiastic about collaborating with a global community, extracting invaluable insights, and honing our solutions to meet the demands of the rapidly evolving digital trust sphere.”

In 2020, co-founder Ahmed Al Marjeby found his online identity had been hacked. Al Marjeby found the fact that paper-based identity documents cannot be verified digitally. Motivated by this event and recognizing the urgent need for secure digital identity solutions, Ahmed, together with Mahmood Al Lawati, launched Nashid in 2022.

Tech4Trust will offer Nashid a golden opportunity to liaise with international experts, regulators, and government agencies.  This collaboration will also open doors to the broader Swiss and European markets, presenting unmatched potential for growth.

The startup previously secured an investment from the Oman Technology Fund and won awards in the Entrepreneurship World Cup 2022 and the GISCO Startup Competition.