Egyptian Blockchain Pravica messaging startup receives investment from Cardano’s Blockchain accelerator

Egyptian Blockchain Pravica messaging startup receives investment from Cardano’s Blockchain accelerator

Egyptian founded and UAE based Pravica, a blockchain company offering decentralized private messaging and community group solutions, has secured a funding investment from Adaverse Cardano Ecosystem Accelerator and venture capitalist. Adaverse aggregates entrepreneurs, strategists and mentors building its most robust foundation in Africa and Asia.

The investment will be used to support the company’s growth and development, including its efforts to expand its chain-agnostic web3 messaging platform that enables users from different blockchains to communicate in a truly end-to-end encrypted (E2EE), open source and decentralized environment.

“Pravica empowers users to take control of their own encryption keys and protect their privacy on the new user-owned Internet” said Mohamed Abdou, CEO of Pravica. “This investment from Adaverse will help us bring our unique approach to secure communication to a wider audience.”

In September 2022, Pravica launched the first DcFi ( Decentralized Communications and Finance platform) under the name Pravica Club. 

Adaverse, a leading investor in blockchain technology, sees the potential for Pravica’s chain-agnostic platform in the market. 

Adaverse is a collaborative initiative between EMURGO and Everest Ventures Group to support blockchain founders with funds, mentorship, and tech infrastructure to scale Web3 Solutions. 

Shogo Ishida, Co-CEO for the Middle East & Africa at EMURGO Africa, commented “Adaverse and EMURGO are excited to support Pravica’s vision of a decentralized, secure communications system built on the blockchain. Both in Africa and across the world, recent market events have highlighted the importance of security and confidentiality in the Web3 space. Pravica provides one of the first tangible solutions to this issue, and Adaverse is glad to be joining their journey with strategic mentorship and tools for growth on the Cardano blockchain.”

The funding from Adaverse will enable Pravica to continue to develop and expand its chain-agnostic messaging platform, enabling secure communication for users across different blockchains.

Prior to the investment from both EMURGO Africa and Adaverse Pravica had received investment from 500 Startups fund. 

In addition Pravica had made some impressive new hiring announcements. Bedie Moran has joined as the Chief Operating Officer of Pravica. Bedie brings a wealth of experience in Fintech working as a management consultant for KPMG Consulting and as head of the strategy team for E-trade Financial. More recently Bedie has focused his attention on supporting digital startups in Africa and the Middle East.

Pravica also announced the appointment of Alejandro Criado-Pérez as their new Chief Technology Officer. Alejandro Criado-Pérez brings a wealth of experience and expertise in the field of blockchain, having previously worked as Tech lead at Stacks Foundation.

One of the key projects that Alejandro will be working on is Pravica Club. 

Japanese Fintech Blockchain firm and Al Fardan Ventures join hands to digitize real estate investment in MENA

Japanese Fintech Blockchain firm and Al Fardan Ventures join hands to digitize real estate investment in MENA

Japanese Fintech firm and UAE Al Fardan ventures have partnered to launch a blockchain real estate investment platform.  Japanese Fintech startup, Canaan Advisors and UAE Al Fardan Ventures have partnered to introduce Canaan Advisors’ Zenihub platform, a blockchain blockchain-based real estate investment platform that focuses on fractionalizing properties in emerging markets to the UAE. 

The venture will be led by Mr. Mohammed Ebrahim Al Fardan, a global technology leader from the Arab world with more than 33 years of experience, spanning from major multinational technology firms to investment firms, and with a strong and solid global network in gaming, artificial intelligence, Mixed Reality, FinTech, Blockchain, Internet-of-Things, and metaverse.

Tokumasa Yamashita, Founder of Canaan Advisors, stated, “There are lots of attractive real estate investment opportunities in the MENA region that are only accessible by a small group of extremely wealthy investors. We look forward to unlocking these investment opportunities and making them accessible to people of all income levels!” said Yamashita.

Yamashita adds, “Our vision is to make high-yielding real estate investment opportunities in emerging markets easily accessible to anyone. Our partnership with Mohammed E. Al Fardan enables us to enter the MENA market and expand our global footprint, and we are very excited about this opportunity

Said Mohammed E. Al Fardan explained, “Digitizing Real Estate assets has always been an important element in my plans, those who read my articles will remember that. It is time to make the MENA region a major global player in the industry. We will be revolutionizing the real estate investment market enabling everyone to invest in real estate project by digitizing the assets.”

The First MENA grown $1 billion fund for Web3 and Blockchain launches

The First MENA grown $1 billion fund for Web3 and Blockchain launches

In what seems to be a great start for Blockchain and Web3 ecosystem in the MENA region, the first $1 billion fund was announced by UAE based Venom Foundation and Iceberg Capital under Venom Ventures Fund.

As per the press release, Venom Ventures Fund is allocating $1 billion to invest in Web3, blockchain and cryptocurrency projects and services. This is the first $1 billion fund for Web3 and Blockchain to originate from the MENA region. Prior to this UAE Cypher Capital had announced its allocation of $200 million for Blockchain, Web3 and Crypto at the end of 2022 and Shurooq Partners had allocated $150 million for the same.

Venom Foundation is the first Layer-1 blockchain licensed and regulated by the Abu Dhabi Global Market (ADGM). In October 2022, Venom Foundation added a regulated virtual asset exchange to its roster. The UAE based exchange formerly known as Yoshi Markets was re-names to Venomex. Venomex had received financial services permission from FSRA at ADGM allowing it to operate as a multilateral trading facility and custodian for virtual assets.

As for the blockchain-agnostic fund, it will invest in innovative protocols and Web3 dApps, focusing on long-term trends such as payments, asset management, DeFi, banking services, and GameFi. It aims to become the leading supporter of the next-generation digital technologies and entrepreneurs.

Venom Ventures Fund (VVF) will leverage Iceberg Capital’s network, expertise, and capabilities to offer incubation programs and access to an extensive industry network. Furthermore, it will assist the investee projects with marketing, exchange listing, technical, legal, and regulatory support.

The fund’s leadership team consists of experienced traditional finance and blockchain professionals; including Peter Knez, ex-CIO at BlackRock and Mustafa Kheriba, a seasoned and well-known investment professional with an impressive track record in the MENA region. Mustafa has served on the Board of Directors of several financial services and insurance companies in the Middle-east and Europe.

As per the announcement, the fund operated by Iceberg Capital, will be investing in projects and teams from pre-seed to Series A rounds. It will strive to accelerate the adoption of blockchain, DeFi, and Web3 while generating long-term value for investors.

Mustafa Kheriba, the Executive Chairman of Iceberg Capital, stated, “We are thrilled to partner with Venom Foundation, launching their new $1 billion fund. Even though the blockchain industry is witnessing a steep correction in prices, we believe that builders will continue to build and innovate. With Venom Ventures, we will be providing financial, technical, and marketing support to the most promising teams and projects in Web3 space to help them bring their visions to life.”

Peter Knez, Chairman of Venom Ventures, added, “I am delighted to be a part of the launch of our new Venture Capital fund here in Abu Dhabi. I am excited to work with a team of experienced investment professionals and talented people from the crypto industry, and we are ready to allocate strategic investments in the most innovative web3 start-ups that are poised for mass adoption. Our mission is to transform digital asset management and make a lasting impact on the industry. Venom is the ideal platform for us to achieve this goal.”

With regards to investments, already Venom Ventures Fund (VVF)  has led a $20 million funding in Nümi Metaverse.  Nümi Metaverse is a universal platform for creators, innovators, and followers. Nümi will launch its ‘Visual Novel’ in 2023, a mini-game experience with a range of special prizes for players.

Nümi will also launch VR metaverse by the end of this year, followed by a PC and mobile version in 2024. The Nümi investment showcases the fund’s investment strategy. Developers and builders working on innovative Web3 projects are invited to apply for funding through the Venom Ventures Fund website.

In an interview with Cointelegraph, Venom Ventures chairman Peter Knez noted that the Venom Foundation, its founders and regional institutional and private investors had seeded capital for the fund. The fund will support companies and projects with a global footprint and is not limited to Abu Dhabi-based firms.

The investment fund will look to attract startups and technology firms to use Venom’s scalable, proof-of-stake-based blockchain solution. Knez highlighted key services that could operate on top of its ADGM-regulated blockchain:

“Payment systems, central bank digital currencies (CBDC), stablecoins and remittance are core services that Venom can provide a solution for due to our unique blend of technology and enterprise.”Knez also believes that the platform could power a multitude of use cases, highlighting the potential for micropayment solutions driving Web3 business models and financial inclusion.

UAE Crypto Oasis Ventures invests in MO: ME: NT to turn moments of public interest into NFTs in MENA

UAE Crypto Oasis Ventures invests in MO: ME: NT to turn moments of public interest into NFTs in MENA

Swiss MO:ME:NT a solution provider that instantly turns moments of public interest into Non-Fungible Tokens (NFTs) through a fully automated API trigger has announced that UAE based Crypto Oasis Ventures has both invested and partnered with the project.

This strategic partnership will combine the Crypto Oasis Venture’s talent and capital with MO:ME:NT’s innovative ecosystem approach to the Sports and Marketing industry.

As per the release, Crypto Oasis Ventures has partnered and invested in MO:ME:NT and will be introducing it to the local Web3 ecosystem. MO:ME:NT will expand its horizons in the UAE with its NFTs of exciting moments that the world celebrates.

Ralf Glabischnig, Founder of the Crypto Oasis will join MO:ME:NT as an advisory board member.  He states, “We are delighted to have MO:ME:NT onboard to help them embrace opportunities that can transform the local Web3 space. We have always been early movers and believe Web 3.0 models like NFT, and Metaverse are going to be the key players in the next iteration of online business. MO:ME:NTs will be revolutionary as brands can harness their power to create meaningful connections with their audiences and drive value. As access keys to relevant real-life experiences, they offer an easy connection to the Metaverse using the limitless possibilities of virtual reality while complimenting the offering of our own venture Tokengate. These are exciting times and we are humbled and privileged to be a market driver in the region’s accelerating startup ecosystem.”

Precious moments from as an example sporting events are endorsed by the heroes behind the MO:ME:NTs, creating a one-of-a-kind collectible item. With MO:ME:NTs, users have the opportunity to buy, own, collect, and trade these special NFTs. This enables a new level of interactivity, ownership, collectability and utility. MO:ME:NTs not only serve as unique collectibles but they can also be easily enriched by the brands or individuals who were involved in creating the moment. 

By using MO:ME:NTs, these brands can build engaging communities and provide various relevant utilities to their followers, ultimately increasing the value of the MO:ME:NT to its holder. Brands can open up a world of new opportunities for their followers and create meaningful, immersive experiences in the real and virtual world driving engagement and value.

“We are excited to welcome Ralf to our advisory board,” said Rudy Banholzer, Co-Founder and COO of MO:ME:NT. “We are looking forward to working with the Crypto Oasis Ventures team as we continue to grow and innovate. This partnership represents a new chapter for both of us, and we are excited to see what the future holds. We are committed to helping brands provide their audiences with better, more relevant, and exciting experiences by seamlessly bridging the real and virtual worlds. By joining the Crypto Oasis Ecosystem, we hope to leapfrog ahead by expanding our prospects, creating value, and connecting with the broader Web3 community.”

MENA based Arts DAO NFT community partners with Crypto wallet provider Ledger

MENA based Arts DAO NFT community partners with Crypto wallet provider Ledger

MENA based Arts DAO (Decentralized Autonomous Organization) and NFT and Web3 community with presence in UAE, has partnered with Ledger, a digital asset storage provider, to offer hardware crypto wallet solutions to its members. 

Arts DAO is currently investing in blue-chip NFTs, supporting major corporations with their Web3 strategy, and backing great founders building in Web3.

France-based Ledger, which employs more than 800 people has sold more than five million devices to customers in 200 different countries and is responsible for securing 20 percent of all crypto assets stored globally as of today.

‘100 Ledger NFTs,’ the first Ledger NFTs ever released, were part of a limited-edition collection created by Arts DAO to honor this groundbreaking partnership. Additionally, Arts DAO provided community members with branded ledgers, allowing NFT owners to claim a physical Ledger hard wallet.

“Ledgers are a so-called ‘cold storage’ solution,” explains Danosch Zahedi, Co-Founder of Arts DAO. “People are always looking for safer places to store their cryptocurrency, and thanks to decentralized finance, anyone with a cold storage wallet may basically act as their own bank. This is crucial in light of recent market volatility in the cryptocurrency space as well as future-defining events like the FTX collapse.”

According to Anas Bhurtun, Co-Founder of Arts DAO, “Dubai has constantly shown its dedication to the virtual economy, with historic regulatory developments providing a framework for companies dealing with digital assets like cryptocurrencies and NFTs.”

As explained by Ledger, what you actually own when you purchase a cryptocurrency is a “private key,” a vital piece of data required to approve outgoing transactions on the blockchain network. Anyone who is aware of this key may use the related funds. There is no bank or other organization to back you up or provide you with a replacement if your private keys are lost, stolen, or if you keep them on a device that malfunctions. As a result, you lose access to your cryptocurrency.

Arts DAO advises clients to use a hardware wallet solution, where your private keys are kept offline in a hardware wallet so only you have access to them. As a result, your wallet is no longer at risk of being compromised by hackers who can’t get to the device or the private keys inside. Even if a hacker manages to take over your computer, they won’t be able to access your crypto assets by stealing your private keys if you have a hardware wallet. The risk of hacking is reduced because your private key is stored offline.

Arts DAO is looking to expand into many more avenues with their clients, including blockchain gaming, blockchain streaming and music, and digital fashion. The two main pillars of Arts DAO are community and consulting. With hundreds of members as of today and rapidly growing, the community is bringing together the Middle East’s largest Web 3.0 community.

UAE DMCC’s crypto center home to over 500 Blockchain crypto entities an increase of 231 percent

UAE DMCC’s crypto center home to over 500 Blockchain crypto entities an increase of 231 percent

UAE Dubai Multi Commodities Center (DMCC) announced that it had added 3,049 new businesses in DMCC in 2022, and the crypto center is now home to 500 crypto and blockchain entities an increase of 231 percent compared to 2021 when there were 151 crypto blockchain entities by end of year. The growth increase is 23% year-on-year, breaking previous record set in 2021 when DMCC registered 2,485 new members.

As per the press release, the record growth was driven by growing demand from blockchain and Web3 businesses for space at DMCC crypto center representing the largest concentration of crypto and blockchain companies in the region. 

In 2021, UAE DMCC Free Zone and Government of Dubai had added 151 crypto and Blockchain entities out of the 2,485 companies who registered in 2021. With 500 entities now in DMCC crypto center, this is an increase of 231 percent YOY making DMCC have the biggest concentration of blockchain and crypto entities in the region.

DMCC attributed the growth to the expansion of its commodities centers and the launch of the DMCC Crypto Centre. In September 2021 DMCC had licensed 50 Crypto blockchain entities just a few months after the launch of its crypto Centre. By the end of November early December, Ahmed Bin Sulayem had mentioned that DMCC had licensed 130 companies, by the end of 2021 it had reached 151 companies.

Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC, stated, “Backed by a strong regional macroeconomic landscape, DMCC has been efficiently accelerating its growth strategy throughout 2022, focusing on supporting its member companies in high-impact sectors such as web3 and blockchain technologies, commodities and global trade. The unprecedented performance this year reflects this growth acceleration and highlights the significant value that DMCC adds to each of its members.”

DMCC Crypto Centre partnered with global VC firm Brinc to provide its members with access to their USD 150 million accelerator fund. Brinc is a portfolio company of Animoca Brands, a global leader in web3 and blockchain investment. This major partnership supports the long-term and rapid growth of the companies that develop web3 and blockchain technologies and associated value-added services at the DMCC Crypto Centre.

Reflecting DMCC’s drive to add value at the intersection of technology and commodities, DMCC partnered with SafeGold and Comtech Gold to tokenize gold bars based in UAE facilities. Each gold bar will be backed by a DMCC Tradeflow warrant, meaning that the increased ease of trading a tokenized asset is combined with the additional security, transparency and real-asset allocation provided by the Tradeflow warrant.

Lebanese one of the most powerful woman in finance new CEO of Blockchain fintech Securrency

Lebanese one of the most powerful woman in finance new CEO of Blockchain fintech Securrency

Born in the USA and raised in Beirut Lebanon until she was a teenager, Nadine Chakar, a US national of Lebanese origin, later attended university in the US. Her parent are both doctors yet Nadine is a well renowned financial and technology executive and is recognized as one of the most powerful women in finance. She has been a vocal champion for using tech to revolutionize financial services. 

Nadine Chakar will be joining Securrency, a leading developer of institutional-grade, blockchain-based financial and regulatory technology, as Chief Executive Officer effective January 9th, 2023.

Ms. Chakar brings over 30 years of experience in global wealth and asset management to Securrency. Most recently, she served as Executive Vice President and Head of State Street Digital, where she built and led the team that is helping State Street, institutional investors, and regulators successfully navigate the bank’s transition into a modern digital economy. Ms. Chakar also led State Street Global Markets, where she oversaw its trading, product, and operations platform, helping to drive successful client solutions. Prior to State Street, she served as global head of operations for Manulife’s Global Wealth and Asset Management Division and led the Global Asset Servicing teams for BNY Mellon.

In addition to her leadership at State Street Digital, Ms. Chakar has served as a member of the Board of Directors of Securrency since 2021. Her appointment as the CEO of Securrency highlights the growing importance of compliance aware tokenization, interoperability, and institutional DeFi to the future of global finance.

Ms. Chakar’s appointment will allow Dan Doney, Securrency’s founder, who has served as the company’s CEO and lead architect since its inception, to focus on innovation, technology delivery, and commercialization by continuing to serve as the Chief Technology Officer of Securrency. Mr. Doney is recognized as one of the preeminent thought leaders in the blockchain and decentralized finance space. This focus will accelerate the growth of Securrency’s blockchain-enabled financial services infrastructure market share.

Nadine Chakar, incoming CEO of Securrency stated,  “The financial services industry is at a critical tipping point as it tokenizes regulated real-world assets and automates legacy financial processes using the power of blockchain technology. The Securrency team has done a remarkable job of developing the most robust technology on the market. As the new CEO, my priority is to accelerate the commercialization of what is in essence the digital asset intelligence and interoperability foundation for major financial institutions and the global ecosystem. Dan Doney is a true visionary and innovator in the industry, and I look forward to working closely with him and the team to create the global digital assets marketplaces of the future.”

Jonathan Steinberg, CEO of WisdomTree, said: “The future of finance relies on regulation-forward and compliance-driven digital development and Nadine has long been a driver of this evolution. Working with Nadine as a client and industry leader, I have witnessed not only her tremendous expertise in the integration of RegTech and digital assets, but her steadfast belief that Securrency’s technology will pave the way for institutional DeFi. I congratulate Nadine, Dan, and the entire Securrency team on this bold move for the company.”

It is noteworthy that Securrency Capital, a blockchain-enabled brokerage that empowers global financial access received a license to operate in ADGM Abu Dhabi UAE in 2022. Securrency Capital is a wholly-owned subsidiary of Securrency, Inc., a US-based global financial markets infrastructure technology company. Securrency Capital is a full-service regulated institutional DeFi brokerage firm that offers both traditional and digital financial services to retail and institutional clients via a single, accessible marketplace. 

A look at the top MENA crypto blockchain Google search trends in 2022

A look at the top MENA crypto blockchain Google search trends in 2022

In 2022, it appears there is a high level of public interest from the number of online keyword searches for crypto, crypto payments, blockchain, metaverse, NFTs and other related terms. These keywords, for instance, are the top searches in Arab countries. This comes as no surprise as nations in the MENA region were among the list of countries receiving crypto, with the greater region becoming one of the regions that saw the most growth in crypto regulations.

According to Chainalysis, while the MENA region is one of the smallest crypto markets, its growth to $566 billion received in cryptocurrency between July 2021 and June 2022 shows adoption is rising rapidly.

UAE places 10th for highest search regions for ‘crypto’

As per Google Trends, there were high inquiries for the term “crypto” in the country from December 2021 to December 2022. The high volume of searches for “crypto” in the Arab state placed it at 10th, followed by Morocco at 11th place, Lebanon (17th) and Tunisia (38th). Several MENA countries placed high in search queries among 73 nations.

The UAE went up two places compared to the results of the Google Trend search for the same period in 2021. Before, the country was in 12th place out of the top 63 countries. Lebanon retained its position, while Saudi Arabia dropped out of the list in 2022. The Kingdom placed 45th in 2021.

The UAE has been at the forefront of crypto regulation and licensing. In 2022, it has awarded licenses to top crypto exchanges such as Binance, Kraken and Crypto.com, among other platforms, and it also welcomed hundreds of other crypto and blockchain firms.

In a Crypto Oasis annual report entitled, “Crypto Ecosystem in the UAE,” the country’s booming blockchain and cryptocurrency ecosystem resulted in the employment of 7,000 people across 1,400 blockchain crypto entities currently operating in the country.

Lebanon is also no surprise, given its position as the third largest recipient of crypto in 2022, per a Chainalysis report.

Meanwhile, “Bitcoin” was the most searched keyword in terms of cryptocurrencies in the Arab world, beating “Ethereum.” Bitcoin took 80 percent of the searches, with the UAE settling at 22nd and Morocco at 50th among the top countries that have looked up the term.

In 2021, the UAE, Saudi Arabia and Egypt topped the list of countries that searched for Bitcoin. This could be in connection to Bitcoin being the most invested in cryptocurrency as well as the most volatile in 2022. At the time of writing, Bitcoin has a market cap of $323.1 billion, followed by Ethereum with $148 billion, according to the estimates by CoinMarketCap.

As for Ethereum, it was searched for most in the UAE and Lebanon among Arab countries in 2022. They are followed by Saudi Arabia, Egypt and Morocco.

Notably, only two Arab countries in 2022 had the biggest searches for crypto prices, namely the UAE and Saudi Arabia. Both the UAE and KSA are considered the biggest crypto trading markets in the GCC region. The 2022 Geography of Cryptocurrency report by Chainalysis found that Saudi Arabia was one of the strongest markets, with cryptocurrency transaction volumes surging 195 percent year-on-year.

Overall, the MENA region accounts for 9.2 percent of global cryptocurrency trading, up from 7 percent in 2021.

UAE only Arab country with high searches for ‘crypto payments’

The UAE took the number 2 slot globally in terms of regions with high volume searches for the term “crypto payments,” bested by only Nigeria. The list of 16 countries also included Singapore, the UK, the USA and Germany.

The introduction of the Dubai Virtual Asset Regulatory Authority (VARA) and the openness in the UAE for crypto payments have fueled the curiosity of the community. The country’s friendly stance toward crypto has urged top real estate entities and luxury and F&B outlets to accept crypto as a payment method.

Search for ‘CBDC’ grew exponentially at end of 2022

While more countries explore the opportunities of adopting CBDCs, Google searches for the term surged in November 2022. In terms of countries with the highest searches, the UAE came in at 18th place out of the top 68 countries. Other Arab countries on the list were Morocco (47th), Egypt (65th), and Saudi Arabia (67th).

The UAE completed its first CBDC pilot mBridge this year and is expected to continue to move forward with its implementation.

Morocco and Egypt join regions with top searches for ‘blockchain’

Despite an overall decrease in “blockchain” searches this year, several Arab countries topped the list among 72 countries. The UAE took eighth place, followed by Tunisia (15th), Lebanon (17th), Morocco (21st), Egypt (73rd) and Saudi Arabia (74th).

Notably, Lebanon is looking into blockchain and crypto as a means to solve many of its economic and fiscal problems.

Lebanon: Takes 8th place in NFT searches in top search regions globally

The search for NFTs went down in 2022 compared to 2021. Regardless, NFT appears to be an interest to Lebanon residents, with the country placing in eighth place. Lebanon was followed by other Arab countries, such as Morocco (10th), UAE (11th), and Algeria (57th).

In 2021, the UAE placed seventh among the top 31 countries that searched for “Buy NFTs.” Meanwhile, in 2022, Lebanon came in second, passing the UAE, which placed fourth.

Lebanese artists have increasingly issued NFTs in 2022, with more Lebanon residents purchasing the asset to offset the declining Lebanese currency in addition to their growing interest in this crypto segment. Moreover, several Lebanese NFT marketplaces have launched this year, such as OasisX.

Top google searches for crypto exchanges in MENA

When it came to searches for “crypto exchange,” the UAE stood in fifth place, followed by Lebanon (27th), Morocco (45th) and KSA (47th) among the top 65 countries.

Notably, “Binance” topped the list of searches in 95 regions. In the Arab world, the exchange was mostly searched by people from the UAE (ninth), Morocco (15th), Lebanon (16th), Qatar (36th), Kuwait (45th) and Jordan (56th).

Binance has been ramping up its operations within the MENA region in 2022. Within the year, the largest exchange by trading volume received an MVP license in the UAE and a full operating license in Bahrain.

As for home-grown crypto exchanges, CoinMENA was searched for most in Iran, Bahrain, Qatar and Oman. . Meanwhile, BitOasis and CoinMENA were equally searched for in Oman.

BitOasis also topped the searches in Jordan, Lebanon, Kuwait and Turkey. Noteworthy is that there were only 20 highest search regions for these terms.  BitOasis also had more searches in UAE and KSA than CoinMENA.

BitOasis has a strong presence in the UAE that dates back to pre-license days. According to BitOasis Founder Ola Doudin, they are actively working with regulators in Saudi Arabia and elsewhere across the region to introduce their respective crypto regulations.

UAE is the most metaverse-curious country globally in terms of searches

When it came to global searches for the term “metaverse,” the UAE came in second place, passing Singapore, which placed seventh. In Last year’s trends, there were almost no searches on Google for metaverse before October 2021.

In 2022, Dubai introduced its Metaverse Strategy, which aims to create 40,000 virtual jobs and add $4 billion to the emirate’s economy over the next five years.

Lebanon tops searches for crypto mining

Lebanon becomes the top Arab country in terms of searches for “crypto mining,” placing third. It’s followed by the UAE, Bahrain, Tunisia, Morocco, KSA and Egypt.

Notably, Lebanon had the highest number of crypto-mining activities. This spike can be attributed to residents turning to crypto mining as an alternative source of income, given the financial demise of the Lebanese Lira. Lebanon’s low electricity costs also made the country an ideal destination for crypto miners.

As for UAE, it is also one of the attractive hubs for crypto miners in the MENA region, given its open stance on crypto, as well as the projects being launched in the country.

In conclusion, while crypto had a bearish year in 2022, this was not reflected in the google search trends especially when it comes to Arab countries specifically in the GCC. The MENA region and GCC country residents have shown considerable interest in crypto, NFTs, metaverse, and blockchain. These search trends reflect a growing interest in the region for these technologies.

Looking at these trends one can imply that crypto mining in countries like Lebanon are a big part of the crypto ecosystem. It might also be inferred that crypto payments interest will continue to grow in the UAE as will CBDC interest.

The fact is that despite the tumultuous year that crypto and blockchain went through in 2022, we will see more of them in 2023 and it looks like the MENA and Arab region will lead.

UAE Based Creta develops blockchain game for Web3

UAE Based Creta develops blockchain game for Web3

UAE based Creta, a Web3 entertainment company developing and publishing video games and a suite of solutions for Web3 gaming, with offices in Dubai, Armenia and Japan has unveiled the gameplay of the upcoming blockchain game Kingdom Under Fire: The Rise and showcases the progress achieved in building its ecosystem of Web3 products, comprised of a one-stop-shop gaming platform, the metaverse, and blockchain gaming community service Super Club.

The announcement took place at Creta Summit 2022 in Tokyo, Japan, attended by video games and blockchain aficionados from Japan and overseas, heralding a significant step forward in bringing advancements in Web3 to the realm of video games.

Gameplay footage of the upcoming Kingdom Under Fire: The Rise set the engine of the Summit humming, unraveling the look and feel of the title with a sneak peek into the NFT avatars system, one of the numerous applications of the non-fungible tokens in the game.

Ray Nakazato, Chief Creative Officer at Creta provided an insight into how blockchain will be leveraged in KUF, ”Some characters and items acquired during gameplay will be turned into NFTs and can be traded or bought. But to protect the game economy from devaluation and maintain a subtle balance, regular in-game item classes will be exempt from such transactions. The game will be playable in seasons, and data will reset at the end of each season with an opportunity to transfer player NFTs to a new season”.

The announcement of other blockchain games that have been in active development by Creta comes as an extra frosting on top. Not much is known about their genres or specs except for the names of the upcoming titles: Tokyo War Hana and Sakura, Fortress, and Warhands.

Advancements in the development of the gaming platform, the metaverse, and Super Club, a blockchain community service, were also disclosed at the event. KUF and other gaming juggernauts developed by Creta will be launched and played via the tailor-made gaming platform, similar to how games are played on prominent Web2 platforms now.

 The metaverse layer will offer extended social and economic features for users craving extra fun and extended NFTs utilization. Super Club will propel the community-building behavior of players looking for familiarization with the benefits of blockchain gaming as well as a hub to relax and share gameplay experiences.

UAE’s Emirates Health Services utilizes IoT, Blockchain and AI in its metaverse

UAE’s Emirates Health Services utilizes IoT, Blockchain and AI in its metaverse

UAE’s Emirates Health Services (EHS) has launched a Metaverse-based Virtual Telemedicine Solution using 3D virtual reality technology which utilizes technologies such as AI ( Artificial Intelligence), IoT (internet of Things) and Blockchain technology. 

As per the press release, the launch is part of transformative projects which leverage advanced technology and promote smart services such as remote health solutions and telemedicine. 

Through the project, EHS aims to deliver virtual medical consultation services supported by advanced technologies. This first-of-its-kind technology enables members of society to access e-services via smart devices, thus scaling up service to reach broader segments of individuals and enhance the customer experience. Through the new virtual channel, patients can effortlessly access psychiatric consultation services, family health promotion clinics, and customer happiness centers.

Dr. Yousif Mohammed Al-Serkal, EHS Director-General,  states, “ It is the first global healthcare provider to apply Metaverse technology to provide advanced services and promote sustainable health development goals by adopting best practices that leverage AI, IoT and Blockchain technologies. This aims to strengthen governance, clinical review services, and research, promote global ethical standards and best practices, and enhance the sector’s competitiveness to world-class levels. The above aligns with our strategy of future-proofing our services against emerging challenges.”

He added, “Our transformative projects aimed at promoting innovation, investing in national healthcare capacities, and continuing to keep abreast of the rapid global developments and changes in the sector by using the latest global medical devices and AI-based treatments and service automation.”

The project will provide psychiatric consultation services for different age groups in addition to accessing the Customer Happiness Centre and family-centered health promotion services. The project complements the goal of EHS to be at the forefront in applying Metaverse technology and equipment-free services.

Metaverse provides a 3D interactive space that allows customers to engage with healthcare professionals through a secure link using their devices equipped with a camera, microphone, and speakers. This way, patients need not purchase equipment such as headphones or controllers. Doctors can assess conditions, discuss treatment plans, and provide treatment and other clinical services.