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.

Algerian Central Bank to adopt CBDC for national currency

Algerian Central Bank to adopt CBDC for national currency

At the end of 2022 the Prime Minister of Algeria, Aimene Benabderrahmane announced that the Central Bank of Algeria is intending to adopt a national digital currency under the name of “Algerian digital dinar” as part of the digitalization of payments.

In his speech the Prime Minister stated, “One of the main workshops held at the Central Bank of Algeria, was under the theme digital payments that would allow the adoption of a digital form of money. It would ensure that the issuance, management and control of the digital currency, the Algerian digital dinar would be under the Central Bank.”

As reported by the Algeria Press Service these statements were made on the sidelines of the opening ceremony of the Central Banks Future Challenges conference organized by the Bank of Algeria.

“In the digital age, the need to strengthen the security and control of payment systems will undoubtedly be felt, new challenges that the Bank of Algeria must face”, added the Prime Minister.

Algeria has had a rough financial year in 2022. As per the World Bank Inflation remained high—9.4 percent year-on-year during the first nine months of 2022 which notably led by the global rise in food prices (which increased by 13.6 percent in Algeria). Poorer households being the most impacted. The Algerian authorities responded by intensifying measures to protect the purchasing power, primarily by increasing civil service salaries, introducing unemployment benefits for young first-time job seekers, and strengthening subsidies for basic foodstuffs.

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.

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’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.

Oman to develop Blockchain valley with Chainsense

Oman to develop Blockchain valley with Chainsense

Oman’s National Real Estate Development and Investment SAOC (OSOS) and Blockchain development company Chainsense have signed an MoU to set up  a Blockchain Valley within the Sultanate of Oman.

OSOS offers a variety of services that meet the requirements of the real estate market efficiently, through a specialized management team and its strong backing from the major shareholders such as Royal Oman Police (ROP) Pension Fund (PF), Ministry of Defence PF, Diwan PF, Public Authority of Social Insurance, Bank Muscat, MB Holdings, Al Madina Investments and Al Rayan Bank Qatar.

Activities of OSOS include the real estate development, management, operations, and valuations of real estate, along with special focus on investments in lucrative and value-added opportunities in the region which synchronized with the Oman Vision 2040.

Chainsense Ltd is a Tech MNC headquartered in London with its presence in four countries including the UAE. It offers its services to over 429 clients and has completed 85 blockchain projects.

The MOU was signed in the presence of Mir Ata Ali Khan, Adviser, Nipoon Agarwal— Director and COO Chainsense, Ganesh Lore, Founder and CTO Chainsense, and Abdullah Al Hinai, HOP at OSOS.

U.S based Blockchain services provider expands to MENA region with UAE as its base

U.S based Blockchain services provider expands to MENA region with UAE as its base

SmartLedger a  U.S. blockchain services company providing advanced solutions to clients through a combination of consultancy, partnership, and internal development has announced that it has entered the MENA region through its subsidiary Blockchain Smart Technologies in Dubai UAE.

As per the press release, Dubai has emerged as a global leader in the adoption and implementation of innovative technologies such as blockchain. The city has made significant investments in the development and implementation of blockchain-based solutions across various sectors, including finance, transportation, and government services.

Blockchain Smart Technologies will work to improve manufacturing and supply-chain efficiencies, airport safety, identity management, nano-technologies, I-gaming, ESG initiatives, and Sharia compliant blockchain services.

Launched in 2016, the Dubai Industrial Strategy outlines the government’s vision for the city’s future development and is based on four key pillars: economic, infrastructure, and social development, as well as environmental sustainability.

“We are thrilled to be a part of the blockchain ecosystem in Dubai. This expansion represents a significant milestone for our company as we continue to grow and expand our presence in the Middle East and beyond.” said Eva Porras, PhD, CEO of Blockchain Smart Technologies.

“Technological advancement is a key priority for Dubai 2030, and Blockchain Smart Technologies can play a key, innovative role in this area. For example, blockchain can be used to improve the efficiency and transparency of infrastructure projects, by enabling secure and transparent record-keeping and data sharing. It can also be used to automate and streamline the process of procurement and contracting for government and the private sector, saving both time and money.” continued Porras.

 “Blockchain Smart Technologies is proud to bring its suite of transformative technologies to support and achieve the strategic visions of UAE 2071 and Dubai 2030, launched by H. H. Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai” said George Ginil, Head of Business Development for Blockchain Smart Technologies.

“Dubai is a hub for innovation, investment and technology, making it the perfect location in the region for our new company. We believe this expansion will allow us to better serve our clients in the region and provide them with the solutions they need to thrive sustainably in the fast-changing times.” continued Ginil.

“We are grateful for the opportunity to serve the dynamic and growing community in Dubai and look forward to contributing to its thriving technology ecosystem.” said Porras.

Central Bank of Morocco ends 2022 with launch of draft crypto bill

Central Bank of Morocco ends 2022 with launch of draft crypto bill

On December 20th, the Central Bank of Morocco represented by its governor Abdellatif Jouahri announced in Rabat Morocco that the draft crypto bill to regulate the use of cryptocurrencies is ready.

The announcement was carried out at the press briefing following BAM’s 4th and final quarterly meeting of 2022. Jouahri stressed that the full draft is ready to put in place a proper regulatory framework.

Jouahri stated, “Discussions are to be held with all stakeholders, including the Moroccan Capital Markets Authority (AMMC) and the Insurance and Social Security Supervisory Authority (ACAPS),” 

“We proceeded to a specific definition of the cryptocurrency and prepared a general public survey that details the specifics and use of this virtual currency in Morocco,” he added.

In June 2022, The Central Bank of Morocco, Bank Al Maghrib, announced during its second quarterly meeting that it would be introducing a cryptocurrency bill soon. Abdul Latif Al Jawhari, Governor of Central Bank of Morocco noted that the crypto CBDC committee created in February 2022 is putting in place an appropriate regulatory framework to combine innovation, tech and consumer protection.

He also noted that the crypto bill is being benchmarked against global experiences with IMF and World Bank. He also noted that this regulatory framework will also update the legislation on the fight against money laundering and terrorist financing.

In March 2022, during a session with media He revealed that the Central Bank of Morocco had created a council headed by him to oversee the required regulations for both cryptocurrencies and CBDCs. He stated, “We are in discussions with the Central Banks of friendly nations such as Switzerland, Sweden, and France as well as international financial institutions such as the IMF and World Bank to learn from their expertise and experience.”

Despite the fact that the Moroccan government considers crypto illegal in the country, Morocco has the highest number of crypto owners within the Arab region, followed closely by Egypt. 2.38 percent of Moroccan population own crypto.

UAE Sharjah University officially launches its Blockchain pilot

UAE Sharjah University officially launches its Blockchain pilot

Sharjah University has launched its blockchain pilot in the presence of Sheikh Sultan bin Ahmed bin Sultan Al Qasimi, Deputy Ruler of Sharjah and President of the University of Sharjah.

‏The President of the University was briefed about the advantages of using Blockchain technology, which includes several aspects, including information security and confidentiality, and ensuring the credibility of information and documents, in addition to accelerating procedures.

As per the news, the work teams at the university worked effortlessly to unify and simplify procedures and to coordinate with all parties and partners to gain access to academic, scientific, and administrative services that serve the University of Sharjah community, which includes students, graduates, and the teaching and administrative staff.

In September 2022 UAE The University of Sharjah launched a research project aimed to develop a blockchain metaverse system to preserve the UAE culture and heritage. Working with BSV Blockchain Association, the University of Sharjah planned to retain ownership of UAE culture in the form of digital assets, and then develop an NFT and physical marketplace where users can exchange physical originals as well as NFTs all in a metaverse environment.

University of Sharjah has been working closely with BSV Blockchain on several projects. During the BSV Blockchain convention in UAE, BSV stated that they were working with several entities in the UAE including the Ministry of Energy, University of Sharjah, and UAE Department of Community, Dubai Police and othe