UAE Everdome Mars metaverse to launch first rocket to Mars in December 2022

UAE Everdome Mars metaverse to launch first rocket to Mars in December 2022

UAE Everdome, the interplanetary metaverse project will be launching its first rocket to Mars in December 2022. Everdome espouses 500,000 community members and partners including names like OKX crypto exchange, Alfa Romeo F1 team, and Pierre Gasly as well as others.

As per the announcement the  rocket launch represents a significant milestone in the development of the metaverse, gradually taking this new digital frontier from a frequently misunderstood concept to tangible reality.

 Everdome located in the United Arab Emirates at Hatta mountains, is where their web3 pioneers will embark first to their interplanetary spaceship ‘’Everdome Cycler’’ and then onwards to a new outpost for humanity on Mars. 

The rocket launch stage will see the earliest Everdome supporters and adopters, named “Tier-1 Evernauts”, embark from the Hatta Spaceport to the Everdome Phoenix (EVR Phoenix), a spaceship design inspired by imaginable and viable technologies , created in collaboration with the project’s space scientist partners.

This Everdome Phoenix will then rendezvous and dock with the immense Everdome Cycler in Earth’s lower orbit, a 3km long interplanetary vessel which will propel the first interplanetary metaverse community to their new settlement on Mars.

Everdome’s city on Mars is placed in Jezero Crater, a location chosen by NASA for its contemporary space missions. Once arriving in Everdome city, the pioneering Evernauts will enjoy multiple storylines and experiences, encompassing adventure, entertainment, learning and trading in this virtual, hyper-realistic metaverse space.

The city includes various land plots in six distinct districts, all offering specific possibilities for related brands, businesses, personalities and individuals to engage with old and new audiences alike in immersive experiences previously impossible in the confines of web2.

Everdome will be streaming this milestone launch live via YouTube for the world to witness the true potential of the metaverse, uniting both web2 and web3 audiences in a visual demonstration of the internets’ future.

Saudi Arabian SABB Bank utilizes Contour Blockchain for Trade Finance

Saudi Arabian SABB Bank utilizes Contour Blockchain for Trade Finance

Saudi Arabian, Saudi British Bank (SABB) is utilizing Contour Blockchain platform to enhance trade finance by improving letter of credit and guarantee procedures for enterprises and international businesses. SABB is working with local fintech entity Bwatech.

SABB is now the first bank in KSA to provide the ability to exchange commercial documents digitally, facilitate the procedures for letters of credit using a decentralized technology, and reduce dependency on paper documents and the time required for document settlement in commercial transactions. 

The Blockchain enabled Contour platform improves transaction security because the data that is shared on the network enjoys a high degree of protection and privacy, which reduces the risk of fraud.

The Bwatech platform boosts the automation of bank guarantees. This service aims to replace paper-based procedures with advanced technical methods by linking banks issuing these guarantees with their beneficiaries to expedite the implementation of the issuance and subsequent procedures.

Yasser Al-Barrak, SABB’s CEO of Corporate and Institutional Banking states, “We are extremely proud of the key role that SABB plays in the expansion and development of global trade, while contributing to our Kingdom’s economic and commercial development under Vision 2030. We are committed to make further progress in executing the bank’s digital transformation plans, in this instance to remove obstacles in Trade Finance, improve national trade flows and accelerate the pace of trade for companies operating in the Kingdom. To achieve this SABB is happy to leverage the latest technologies such as blockchain and is flexible enough to work with leading Fintechs. This will contribute to Vision 2030 goals to make the Kingdom a regional trade hub.”

SABB was the first bank in the KSA to complete an international trade transaction via Blockchain technology.

Contour blockchain has been working with various sectors across MENA to improve trade finance.

In early 2022 The European Bank for Reconstruction and Development (EBRD), and Egypt’s QNB AlAhli bank have facilitating three test letters of credit on the digital trade finance network Contour utilizing Blockchain enabled CargoX platform. The trial took place with QNB ALAHLI bank one of Egypt’s largest commercial banks, acting as issuing bank and the Blockchain enabled CargoX Platform used for electronic presentation of documents.

In September 2022 HSBC has executed a blockchain-enabled, trade finance transaction between Chinese car manufacturer SAIC Motor and the Taajeer Group, Saudi Arabia’s exclusive agent for MG cars. The transaction was conducted on the Contour platform and became the region’s first for the automotive sector.

Singapore based Contour blockchain launched in 2020  after a series of ground-breaking live pilots in 14 countries and a global trial with more than 50 banks and corporates, which reduced processing times for Letters of Credit by over 90%, from 5-10 days to under 24 hours for an industry of USD 18 trillion.

UAE metaverse project Eikonikos is launching digital fashion NFT collection with Lebanese Designer

UAE metaverse project Eikonikos is launching digital fashion NFT collection with Lebanese Designer

UAE metaverse project Eikonikos is launching an NFT collection with Lebanese fashion designer Aiisha Ramadan. Aiisha Ramadan started her couture clothing line from the UAE in 2007, her base for more than 30 years.

The new collaboration will set a milestone in the evolution of the digital fashion industry.

Eikonikos built on the Cardano blockchain platform seeks to transform the landscape of ecommerce, dating, gaming and learning.  The company raised $2 million USD in March 2022.

At that time Mohamed Vasif, founder and CEO of Eikonikos stated, “We are very determined to create a platform that directly competes and rivals metaverse giants like Decentraland and Sandbox.” 

 Vineeth, CMO and co-founder of Eikonikos added, “We will be able to interact with other Metaverse economies in the future. Building a dedicated and crypto-native audience that likes our dope Non-Fungible Token (NFT) designs, intense gameplay.”

On August 5, 2022, Eikonikos launched a premium genesis NFT passport for the global Web 3 community. Today Eikonikos is entering the digital fashion industry.

Mohamed Vasif states, “What is not possible in the physical realm is possible in the metaverse. Our digital fashion transcends physical reality. Eikonikos Digital fashion NFTs is not limited to clothing for avatars. These NFTs clothing will have special powers in the gaming world. We give 100% ownership to NFT holders and the possibility of commercializing them. For instance an aspiring designer can buy, own and even create physical products of these NFT designs. We are at the biggest evolution of the fashion industry. We are here making it.”

According to figures from investment bank Morgan Stanley, the digital fashion industry could be worth $50 billion by 2030.

The newly-announced partnership with Aiisha Ramadan to launch fashion NFTs is to leverage this emerging market. 

Chady Jriege, Co-Founder and Chief Financial Officer of Eikonikos, says, “The collaboration between Eikonikos and Aiisha Ramadan is one of the long lists of brand collaboration that we are working to establish. Aiisha is a celebrated designer and owner of the famous Lebanese brand AIISHA. She fashioned beautiful women like Charlies Theron, Paris Hilton, Ariana Grande, Bollywood celebrities like Aishwarya Rai, and a list of others. The collaboration between Eikonikos and Aiisha Ramadan will bring a unique set of NFT collections. The project combines fashion, art, blockchain technology, spirituality and healing to bring an astonishing collection of digital fashion NFTs.”

Aiisha Ramadan stated, “The role of the metaverse in health and wellness will expand our ability to go to places in our minds we never thought we could reach.  A lot of people have trouble imagining what their aura is like, what their chakras are like, so the metaverse is going to help us to manifest those long-spoken ideas and healing methods into something more tangible for people to feel and see more; it takes us to different dimensions of healing.”

The NFT collection will be launched during the last week of November 2022.

Blockchain Valereum’s acquisition of Gibraltar Stock Exchange to help Middle East and African entities access crypto capital

Blockchain Valereum’s acquisition of Gibraltar Stock Exchange to help Middle East and African entities access crypto capital

UK based Blockchain company Valereum has received consent from the Gibraltar Financial Services Commission (“GFSC”) to complete the acquisition of the Gibraltar Stock Exchange (“GSX”). Valereum will utilize GSX to expand access of early stage and small cap companies in the Middle East, India and Africa to European Capital.

In early 2022, Valereum stated that it would be purchasing 90% of the Gibraltar Stock Exchange (GSX) to create the world’s first bourse where shares and crypto assets can be traded

Valereum at the time stated that GSX would the first fully regulated bridge that links the fiat and crypto markets. As they noted at the time, “This will give listed instruments on the GSX access to a regulated pool of crypto capital that is not available anywhere else, and it will give cryptocurrency holders the ability to have a direct, verifiable holding in fiat securities.”

The recent press release notes that there is a significant gap in the available small cap markets where we will provide solutions building from the ecosystem of accelerators and incubators through a full suite of private and public markets. This will provide a new transnational access to capital.

In addition Valereum will be launching its NFT strategy in the first quarter of next year linking real world assets via NFT ownership.

Valereum also announced that its candidates for the new board of the GSX have all been approved by the GFSC. These appointments will officially take place with the completion of the change of control process. They include  Chairman: Richard Poulden, the Chairman of Valereum Plc., Executive Director: Patrick L Young, Chief Financial Officer: Jack Sun Non-Executive Directors will include Simon Brickles and James Lasry

The acquisition is expected to be completed in the first quarter of 2023.

Chairman Richard Poulden noted, “We are delighted to have received this news from the GFSC and look forward to completing the acquisition of the GSX. It is auspicious to be announcing this on the day of the Gibraltar Financial Services Lunch in London. We have ambitious plans for the GSX and for Valereum linking the fiat and digital worlds. All our expansion plans will be fully regulated in the environments in which we plan to operate. The GSX will harness proven exchange technology from established providers and will be updated with full front to back trading and clearing functionality on a significant scale and expandability.”

He adds, “Just as The Rock of Gibraltar has been a physical port for centuries, GSX will encourage a new generation of companies and assets to see Gibraltar as a virtual node in financial trade. In time we will seek an international listing for the Valereum group as we see this as a compelling investment proposition.”

ME Jets partners with UAE based digital assets payments provider Hayvn to offer crypto payment services

ME Jets partners with UAE based digital assets payments provider Hayvn to offer crypto payment services

All women luxury jet charter, ME Jets, partners with UAE digital asset service provider Hayvn to offer crypto payment services.

ME Jets Managing Partner Amy Spicer, stated,  “With the crypto world being relatively unknown to us at ME Jets we wanted a company that would offer a lot of support when getting started, and HAYVN did just that.  Our requirement was to partner with a global company with a local presence based here in the UAE,that supports local companies and builds a trusted business relationship. “

HAYVN CEO, Christopher Flinos, added, “Being an all-woman team who saw an opportunity, makes ME Jets pioneers in the aviation industry, much like HAYVN is in the digital asset space. Partnering with ME Jets ensures HAYVN continues our expansion of crypto payments into the aviation charter and brokerage industry, adding further credibility to our global presence and abilities”.

Hayvn’s customers in UAE include DAMAC properties.

UAE crypto mining hardware retailer to invest $300 million in global expansions

UAE crypto mining hardware retailer to invest $300 million in global expansions

Amidst what some might consider as bearish markets especially for the crypto mining industry given high energy prices and decreased value in crypto markets, UAE’s crypto mining hardware retailer, Phoenix Technology is investing $300 million in crypto mining sites across the globe.

As per recent news, Phoenix Technology is developing a large scale site in the United States which will be launched in Q2 of 2023. The site will utilize the latest mining technologies including immersive cooling.

Carl Agren, CEO of Phoenix Technology, stated, “Phoenix Technology is aiming to switch from a regional player in the mining space to a global one. In other words, developing, maintaining, and operating sites all around the world. We have been currently focusing on the North American markets, mainly the US and Canada. However, we are planning on setting foot in other regions to try to identify opportunities in untapped mining areas. We are devoting $300 million to be invested in different sites that are development opportunities, under development, or currently operational.”

The company has also signed a strategic partnership with MicroBT, blockchain and AI entity, making it the exclusive sales partner of WhatsMiner in the MENA region.

Phoenix Technology has claimed that it will develop partnerships with other companies that are also pushing the boundaries of mining, such as gas flaring, to bring more technologically advanced solutions to the local market and globally.

Recently Munaf Ali, founder and CEO of UAE-based Phoenix Group, stated that he believes MENA is fast moving toward crypto and blockchain adoption. In the interview he explains, “The Middle East is fast helping the global diversification of jurisdictions which are friendly to operate in. This goes for countries where crypto firms can set up, whether they are crypto exchanges or mining operations.”

In November 2021, Phoenix Technology announced that it signed one of the world’s largest purchases on record for crypto mining rigs, worth US $650 million. In an interview Munaf Ali stated that Phoenix was part of a project that would be developing a large scale crypto mining farm in the UAE.

The home of Bahrain’s F1 Grand Prix now accepting crypto payments

The home of Bahrain’s F1 Grand Prix now accepting crypto payments

Bahrain international Circuit is now accepting crypto payments using Bahrain’s Eazy Financial services, which has a partnership with Binance.

Using EazyPay, BIC will be provided with POS terminals at BIC outlets that will accept all types of debit and credit cards from Visa and MasterCard as well as the latest methods of payment using crypto assets via Binance application.

BIC is now the first International Circuit in the World to accept crypto assets Payments in a regulated, secure and extremely fast manner. 35,000 fans attended the F1 Grand Prix race in 2022 which is held at Bahrain international circuit.

The benefits of bringing in EazyPay to BIC will ensure simple and effective transaction journeys for customers, with a partner which is able to ensure first-class service.

“We are pleased to have brought on Eazy Financial Services as a POS service provider,” BIC Chief Commercial Officer Sherif Al Mahdy said.

“The services they offer will benefit our operations greatly while offering a smooth, hassle-free experience for our customers. We look forward to further building on our relationship for the benefit of both our companies.”

Nayef Tawfiq Al Alawi, Founder & CEO of Eazy Financial Services, said they are very proud to become the partners of the Bahrain International Circuit, the home of Motorsports in the Middle East, by providing EazyPay competitive, and innovative payment services.

Tameem Al Moosawi, General Manager of Binance Bahrain, said they are excited to welcome ‘The Home of Motorsport in the Middle East’ to the Web 3 Economy stating “This agreement enables BIC to become the first international racing circuit in the world to accept crypto-asset payments through Binance Pay’s partnership with EazyPay, showcasing how the Kingdom of Bahrain is continuously in the forefront, supporting regional & global players in keeping up with global trends.”

In late September 2022, Bahrain EazyPay, a payments solution provider, partnered with Binance’s Binance Pay to launch a regulated and approved crypto payments service offering in the Kingdom.

At the time, Nayef Tawfiq Al Alawi, Founder, MD & CEO of Eazy in Bahrain stated on LinkedIn,  “Now you can pay in stores with any preferred Cryptocurrency using Binance App.  A special thanks goes to Central Bank of Bahrain, Binance and Eazy Financial Services B.S.C (Closed) teams.”

BitOasis beats Binance to it and launches crypto cards with MasterCard in MENA

BitOasis beats Binance to it and launches crypto cards with MasterCard in MENA

UAE based crypto exchange BitOasis, and MasterCard are launching crypto card programs across the MENA region to facilitate day to day usage of cryptocurrencies at points of sale and ecommerce website.

BitOasis customers will be able to convert their cryptocurrency holdings to fiat currency allowing the consumer to easily shop and pay at more than 90 million merchant locations globally. The first BitOasis cards are expected to launch in early 2023 in markets with regulatory approvals.

BitOasis customers, who can also access a range of MasterCard benefits, will be issued with virtual and physical BitOasis cards through a simple and compliant digital on boarding experience via the BitOasis app, allowing them to transact seamlessly physically and online.

BitOasis customer transactions will be enabled to take place in Fiat currency, thereby adding consumer protection – such as provisions for dispute resolution and refunds – which doesn’t exist today when paying with a digital asset. The partnership will address these pain points and further drive customer awareness and crypto adoption in the region. 

Amnah Ajmal, Executive Vice President Market Development, EEMEA, MasterCard, said: “Changes in consumer demand, as they look for new, fast and flexible digital experiences, are fueling an increase in the adoption of emerging payment technologies. With this comes a greater expectation for businesses to provide multiple ways to shop and pay. Through our collaboration with BitOasis, one of the most innovative crypto platforms in MENA, we enable the consumer experience to be seamless by using their cryptocurrencies in a safe and secure environment.”

 Ola Doudin, CEO and co-founder, BitOasis, stated,  “We continue to witness sustained demand amongst our customers for crypto to be integrated into, and relevant, for their daily lives.  Research tells us that 47% of the Middle East population now believe crypto is the future of money. As the largest crypto platform built for the GCC and MENA region, we are delighted to partner with Mastercard to enable BitOasis customers to benefit from the convenience of linking their BitOasis wallets to their BitOasis Mastercard Crypto Cards for use across Mastercard’s global merchant network. Our mission at BitOasis is to enable a new digital financial system that is transparent, inclusive, regulated, and relevant on a daily basis, whilst providing even greater safety and security for cryptocurrency payments. Today’s partnership helps us deliver against our mission”.

It seems BitOasis beat Binance to it. In August Richard Teng head of Binance MENA had stated that they would be close to launching crypto cards with MasterCard in MENA. Since then no announcement. But here is BitOasis all partnered up and ready to go.

The GCC and MENA region very attractive destination for crypto mining

The GCC and MENA region very attractive destination for crypto mining

Crypto mining is an integral part of the development of crypto economies. As the MENA region opens up its economy to digitization and crypto-related activities and as the world is challenged by an ongoing energy crisis, MENA is probing to become an attractive destination for crypto mining.

While the biggest crypto mining markets are currently in the USA, China, Kazakhstan and Canada, the energy crisis and the crypto bear market could help the GCC become a leading crypto mining hub.

Mohamed El Masri, founder and CEO of Permianchain, which operates Bitcoin mining data centers in Canada using wasted energy, states, “The adoption and implementation of blockchain data center infrastructure can support the digital stability and financial security of the GCC region. Hypothetically, the GCC has the opportunity to attract close to $1.0 trillion in economic growth by laying the groundwork for powering the digital economy.”

El Masri confirms the main challenge is calling out the financial regulators, mainly in the financial free zones, to stop taking the “enforceability approach” and take a “regulate-first approach.”

Nonrenewable resources to boost mining 

El Masri also mentions that given that the GCC is an oil and gas-rich region, there is an abundance of natural gas energy being wasted each day. Notably, such gas energy supports the implementation and commissioning of low-cost power plants to attract bitcoin mining companies from all over the world to set up in the region.

According to him, this will allow the region to become a leader in providing field-generated electricity “to power the future digital economy all while reducing emissions and decarbonizing the GCC’s oil and gas sector.”

The World Bank has reported that the MENA region accounted for 40% of the world’s flaring, with Iran, Iraq and Algeria generating 75% of MENA’s flaring. Meanwhile, Saudi Arabia, Kuwait, UAE and Qatar have low flaring intensity.

Adopting new technologies

Munaf Ali, founder and CEO of UAE-based Phoenix Group, involved in crypto mining equipment sales and projects, believes MENA is fast moving toward crypto and blockchain adoption.

“The Middle East is fast helping the global diversification of jurisdictions which are friendly to operate in,” Ali states. “This goes for countries where crypto firms can set up, whether they are crypto exchanges or mining operations.”

Ali confirms that GCC governments have started to address this by recognizing these new business activities and are issuing licenses to crypto market participants.

The Phoenix CEO espoused other benefits, including job creation, the development of a green renewable energy industry, and the generation of crypto/USD for circulation inside the local economy which in turn boosts economic activity.

Growing interest in mining

UAE investment firms have also shown interest in crypto mining investments. Nabyl Al Maskari, executive chairman of Al Maskari Holding, in a panel discussion during the Security Token Summit in June 2022, noted that there will be significant crypto mining investments happening in the UAE.

“We will have significant crypto-mining investments because the UAE is a low-cost energy producer,” Al Maskari certifies. “We are in the solar belt and have nuclear power with two reactors online. We can as such mine green Bitcoin or other tokens that come out.”

During Binance Week 2022, Khalifa AlJaziri, AlShehhi, Commercial Affairs Regulatory Sector Projects advisor at the Ministry of Economy in UAE, claimed that the Dubai World Trade Center Authority (DWTCA) would be legislating the crypto mining sector. He stated, “We are setting the guidelines and rules needed to regulate crypto mining within this crypto framework.

The UAE is not the only country that has shown interest in crypto mining. Oman Investment Authority (OIA) took part in a $350mn equity round in Crusoe Energy Systems. The US firm helps oil and gas producers cut flaring by using stranded natural gas to power cryptocurrency mining. Crusoe systems set up operations in Oman as well. 

Pierre Samaties, global head of Crypto Economy and Energy, reaffirmed that Bitcoin mining in the region is growing.

“Given we have a huge difference between the summer load curve and the winter load curve, Bitcoin mining helps to support renewable energy investments to increase utilization of the asset by using it during downtimes for Bitcoin mining,” Samaties says. The executive says this helps to balance the energy system.

Samaties also affirms that Bitcoin mining is seen as a strategic asset, a cornerstone for building a crypto economy in the region.

For those who would like to read or share this article in arabic it is also on Cointelegraph MENA 

Kevin O’Leary’s Cypher crypto Fund is in partnership with UAE’s Cypher Capital

Kevin O’Leary’s Cypher crypto Fund is in partnership with UAE’s Cypher Capital

In September 2022, Kevin O’Leary announced that he was launching a crypto fund in UAE called Cypher with a lead investor from the UAE, yet he did not mention who. Today it has become public knowledge that the lead investor is no other than UAE Cypher Capital.

Vineet Budki, Managing Partner and CEO of UAE’s Cypher Capital, announced that the fund Kevin O’leary had mentioned at Converge22 was in partnership with Cypher Capital.

In his LinkedIn post he states, “We look forward to an amazing relationship with Kevin O’Leary and Paul Palandijian, CEO of O’Leary Ventures and as always the super human effort of Bijan Alizadeh Founder of Cypher Capital and Munaf Ali, Founder and CEO of Phoenix Group.”

He adds in his post, “The new bigger Cypher Capital fund is coming and we are happy to support the Web3 and Blockchain ecosystem globally and in MENA.”

It seems that the announcement was also made by Alizadeh during Gitex 2022 at TDeFi stage. 

Kevin O’ Leary, nicknamed “Mr. Wonderful”, a Canadian businessman, entrepreneur, and television personality and an advocate of crypto stated at Converge 22, “I recently became a citizen of the United Arab Emirates to work freely in a region that has attracted investment by some of crypto’s heaviest hitters, including exchanges FTX, Binance and Crypto.com. The new all-Web3 fund’s lead investor comes from the United Arab Emirates.  There’s a tremendous amount of capital and interest there to invest in this space.”

UAE Cypher Capital which launched in March 2022 is a private venture capital firm rooted in the UAE and MENA region. At the time of its launch it noted that it had a USD100 million seed fund that would focus on investments in blockchain, crypto and other digital asset projects with genuine value propositions.

At the time Bijan Alizadeh, Founder and General Partner at Cypher Capital stated, “We are very proud and honored to be launching our first and the biggest crypto, digital asset and blockchain private seed fund from the UAE and the Middle East Region.  This fund reflects our vision to be the leading global partner for projects in the blockchain, crypto and the digital asset community. We will collaborate closely with our portfolio projects, offering them access to our network and equipping them with our knowledge, as well as investing alongside other venture capital partners into innovative blockchain, crypto and digital asset projects.”

With this latest partnership it seems that Alizadeh has kept his promise and is working alongside other venture capital partners to help grow the blockchain and digital asset ecosystem.

Cypher Capital had already invested USD1.5 million into UAE’s Crypto Oasis Sentio, showcasing its belief that cooperating with other private venture capital funds builds the blockchain ecosystem. “