Del Monte Produce acquires 39 percent of Jordanian Blockchain food traceability startup Decapolis

Del Monte Produce acquires 39 percent of Jordanian Blockchain food traceability startup Decapolis

Fresh Del Monte Produce a global integrated producer, distributor, and marketer of fresh and fresh cut fruits and vegetables has  acquired a 39 percent stake in Jordanian Blockchain driven food safety and traceability startup Decapolis. 

The investment is part of Fresh Del Monte’s technology-driven mission to offer best-in-class, innovative solutions for its products and services, and to provide sustainable solutions that other businesses and industries can benefit from.

The two companies plan to roll out Decapolis Food Guard (DFG)™, the blockchain-based traceability solution, across all Fresh Del Monte business segments, starting with Fresh Del Monte’s pineapple operations in Costa Rica. 

Decapolis Food Guard provides full traceability solutions through the DFG chain of records which capture assessments at each stage of production, from planting to distribution through the use of QR codes. Deploying blockchain technology ensures data remains immutable and QR codes on product labels certify end-to-end traceability. Anyone who scans the QR code will be able to see a complete log of product information from farm to fork. This traceability process allows for trusted record keeping in the supply chain, whether it impacts consumer knowledge, food safety, or quality analysis. Fresh Del Monte and Decapolis also plan to provide the Decapolis Food Guard (DFG)™ to other interested businesses.

Mohammad Abu-Ghazaleh, Fresh Del Monte Chairman and Chief Executive Officer, stated, “Now more than ever, consumers are very cognizant of what goes into their food. With this blockchain technology, they’ll know exactly what has gone into the product, and where it has traveled until the moment it was purchased for consumption. We’re excited to begin rolling out this traceability solution to all Fresh Del Monte products.” 

Decapolis has successfully developed and deployed this solution in the private and public sector, spanning four continents. 

Abedalrhman Habashneh, Decapolis Founder and Chief Executive Officer added, “We are in the business of doing good. We embark on this endeavor with full confidence in our company, our offerings, service, and the people we serve. It will surely be a promising and fruitful venture, a force multiplier to work that positively impacts communities, families, and the future of healthy living and technology for good. We remain steadfast in moving towards our vision of becoming the leading global reference platform for compliance and certification for food trade worldwide.” 

True Global Ventures with a presence in UAE invests $17.2 million in unicorn company Animoca Brands

True Global Ventures with a presence in UAE invests $17.2 million in unicorn company Animoca Brands

True Global Ventures 4 plus, (TGV-4 Plus) Fund with a presence in the UAE and TGV 4 Plus Follow On Fund (TGV 4 Plus FoF) have invested a $17.2m convertible note investment into Animoca Brands out of a total raise of US$110m.  The current investment further supports Animoca Brands’ mission to deliver digital property rights to the world’s gamers and Internet  users,  thereby  creating  a  new  asset  class,  play-to-earn  economies,  and  a  more equitable digital framework contributing to the building of the open metaverse.

Other investors included Boyu Capital, Singapore’s Sovereign Wealth Fund Temasek and GGV Capital.

The investment comes after Animoca Brands’ second closing at a valuation of US$5.9 billion (based on Australian dollar exchange rates at the time),  announced on July 12, 2022. The company is a leader in digital entertainment, blockchain, gamification, and digital property rights in open metaverse.  

TGV is a distributed fund with a presence in over 20 cities, including Singapore, Hong Kong, Taipei, New York, San Francisco, Vancouver, Dubai, Abu Dhabi, Moscow, Stockholm, Paris, Madrid and Warsaw. TGV4 Follow on Fund includes $5 million investment from Middle East partners  making up 3.4 percent of the fund investment. 

TGV has been an early backer of Animoca Brands since early 2019 and has seen it achieve unicorn status in May 2021. Animoca Brands has derived much of its growth in value from the revenues of its blockchain projects and subsidiaries, as well as the over 340 investments it has made in the open metaverse.

 Valerie Hawley, Affiliate Partner, True Global Ventures 4+ speaking to LaraontheBlock says, “Current market conditions offers many challenges but also opportunities.  It is during these challenging times when the true leaders of the web3 space will emerge.  There is no finer example of this than Yat Siu and the Animoca team.  We at True Global Ventures are delighted to be able to continue to support their growth.”

Besides Animoca Brands, the TGV 4 Plus base fund has also invested in other leading companies such as The Sandbox (a subsidiary of Animoca Brands), Forge, Chromaway, Coinhouse, GCEX, Chronicled, Enjinstarter, Iomob and Dedoco and others. 

This is the first investment made by the new TGV 4 Plus FoF, which focuses on investing a majority of its capital into selected TGV 4 Plus base fund companies. TGV 4 Plus Follow On Fund will consider making additional investments in other late stage web3 deals as the opportunities arise.

The TGV 4 Plus FoF completed its first closing in June 2022 for US$146m. TGV 4 Plus FoF has 15 General Partners (GP) who lead the fund and its Investment Committee, investing more than US$62m of their money into the fund. This represents a total GP commitment of over 40% of the total fund size and over US$4m per GP on average.

Yat Siu, the co-founder and executive chairman of Animoca Brands, commented: “We are honoured that the TGV 4 Plus Follow On Fund has chosen Animoca Brands as its first investment and are deeply grateful for TGV’s continued support. Thanks to the shared network effect of the open metaverse, the funding of late stage companies like us also provides a boost to early stage growth, so we believe this is a positive development for the entire ecosystem.”

TGV General Partner Dušan Stojanović adds, “I’m impressed by the number and quality of strategic acquisitions and investments that Animoca Brands has made. It is one of the big winners of the market correction, and is likely to emerge stronger from this down market similarly to how companies like Amazon emerged from the Dotcom crash.”

UAE Private Fintech firm invests in UAE Decentralized Digital asset exchange

UAE Private Fintech firm invests in UAE Decentralized Digital asset exchange

UAE Blockchain enabled LedgerFi, valuated at 6.3 million USD has just completed its seed round investment from a UAE private Fintech firm. As per their website LedgerFi which utilizes XDC blockchain network, wants to become the world’s first Decentralized Digital Asset Exchange ( DDAX) where users can transfer all types of digital assets.

LedgerFi IT Solutions is disrupting the traditional ways of exchanging digital assets, digital energy & digital property by enabling the users of Web 3.0 to adopt & adapt a peer-to-peer, censorship resistant and decentralized ecosystem. It is also extending the use case of transfer of digital assets beyond crypto currencies and enabling users with a seamless platform for exchange of emails, messages, data, files, information, digital currencies and even NFTs.

LedgerFi recently launched its flagship product called as LedgerMail which is the world’s first blockchain email service operating on a hybrid blockchain platform of XDC network. So far LedgerMail has onboarded more than 750,000 users and also partnered with big tech enterprises for secure, private & encrypted email communication.

Founder and CEO at LedgerFi, Mr. Vinay Krishna quoted, “We are thrilled to complete our Pre-Seed Investment round. Now we are working on benchmarking the Web 3.0 communication ecosystem and build a futuristic, simplistic and transformative ecosystem for the individuals and businesses.”

As per the pressrelease, LedgerFi will utilize this investment for catalyzing the technological development of new solutions which will complement the existing products, and LedgerFi will also operationalize its entity with business expansion in the UAE.

In UAE, 3D Printing Beats crypto as the tech that could become the most widespread, good and invested in

In UAE, 3D Printing Beats crypto as the tech that could become the most widespread, good and invested in

The recent YouGov Survey in the UAE on the opinions of UAE residents about 16 emerging technologies had some very interesting findings. The survey highlighted the responses of those surveyed on their opinions about the future and impact of these technologies on society. Interestingly awareness about a technology did not necessarily correlate with acceptance or feeling this technology was important or should be invested in.

So while crypto took top spot in terms of awareness, it didn’t continue to take the lead when it came to which technologies would become widespread or which technologies are good or which technologies should governments invest in.

Cryptocurrency as a term topped the list of technologies that UAE residents have heard about. 50 percent of the 1005 residents surveyed have heard a lot about crypto, 36 percent have heard about it a little and only 14 percent have not heard about it at all. This of course is not surprising given all the recent endeavors the UAE government has taken when it comes towards crypto, virtual assets and blockchain. The most recent of which is the inauguration of VARA (Virtual Assets Regulatory Authority) out of Dubai World trade center.

Following cryptocurrency came virtual reality, self-driving cars, 3D Printing, and AI ( Artificial Intelligence),  between 43-47 percent having heard a lot about them.

Interestingly Blockchain came up just after AI with a total of 70 percent having heard of it a lot and a little.

The terms metaverse and even NFTs, came in after with only 29 percent and 27 percent having heard about them a lot. This shows that while UAE was positioned as a leader in terms of NFT purchases in 2021, it seems only a small portion of the population were aware and experimenting with NFTs.

The least technology that UAE respondents are aware of is Decentralized Autonomous Organizations (DAO) with only 15 percent of respondents hearing a lot about them.

When residents were asked which technologies they believe would eventually become widespread, the list changed. Cryptocurrency dropped to 4th place. The top technology respondents felt would become widespread was 3D Printing, Self Driving cars and Artificial Intelligence. Blockchain and metaverse came in 6th and 7th place respectively. While NFTs and DAOs came in 9th and 10th place.

In terms of which technologies would be good for society once again the list changed. 83 percent noted that 3D printing would bring the most good to society, followed by 66 percent who thought AI would be good. Once again cryptocurrency at 5th place and blockchain at 7th, and metaverse and NFTs came in 11th and 12th place. This could illustrate the need for more education and information on the metaverse and NFTs. Most discussion on NFTs has been about art, videos, while not much has been discussed on NFTs in real estate, healthcare, and financial sector.

Finally when asked where should government invest in, once again 3D Printing took first place with over 52 percent believing it was very important, followed by AI at 52% , self-driving cars, at 46%, virtual reality at 40%, artificial organs and cryptocurrency both at 38% followed closely by Blockchain at 37%

EnjinStarter Launchpad for Blockchain games and metaverse in UAE soon

EnjinStarter Launchpad for Blockchain games and metaverse in UAE soon

EnjinStarter, next generation Launchpad for Blockchain games and the metaverse, which is based out of Singapore, could be setting up base soon in UAE.

Prakash Somosundram CEO and Co Founder at EnjinStarter recently visited Dubai.  Nigel Hawley board advisor and a investor in True Global Ventures (TGV), which also recently invested 3 million USD in a series A round as a lead investor into Enjinstarter hosted the visit. EnjinStarter has received a total of 8 million in funding since its inception.EnjinStarter, built on JumpNet is enabling creators and game developers to run capital raising campaigns and build communities using blockchain tech. Not only do they issue tokens but provide game developers with a way to explore other innovative ways of raising capital including utilizing NFTs. They even have an incubation program, supported by an accredited partner network.

Concurrently the MENA gaming sector is one of the fastest-growing gaming markets in the world, with revenue across the MENA-3 (Saudi Arabia, United Arab Emirates, and Egypt) reaching 1.76 billion in 2021.

Since late 2021 and early 2022, a lot of efforts and investments are moving towards a Blockchain enabled gaming sector. Abu Dhabi based, AD Gaming, an entity driving Abu Dhabi’s fast-growing gaming industry partnered with ATTARIUS Network, a UAE crypto and blockchain company, to bring blockchain solutions to the UAE game developers, with a focus on developing blockchain gaming, ATTARIUS Network to build an all-in-one NFT ecosystem for the gaming industry and digital artists.

Back to EnjinStarter, on the LinkedIN post Hawley stated, “What a great pleasure it was welcoming Enjinstarter, to Dubai. We had a fantastic week introducing Prakash Somosundram, CEO and Co-Founder and Shitij Gupta, CFO, to the Dubai ecosystem.  We started with some interesting metaverse and blockchain panel discussions at the Top CEO Conference and Awards.”

He adds in his post that insightful discussions were also held with UAE Crypto Oasis team represented by Saqr Ereiqat as well as the founders of MetaTerrace.

He notes in his post that the highlight of the discussions where the meeting with the Founder of UAE Based Cypher Capital, which launched in March its 100 million USD fund in Blockchain, crypto startups emphasizing those who have set up a base in UAE. As Hawley states, “Highlight was the fruitful discussions with Bijan AliZadeh, Founder and CEO of Cypher Capital.”

From the comments on the post, it seems likely that there is a good chance that EnjinStarter will be making Dubai as a base for its operations in the MENA region. Hawley adds at the end of the post, “We are looking forward to seeing EnjinStarter in Dubai on a more permanent basis going forward.”

Both Crypto Oasis and Cypher Capital have espoused their intentions to build the blockchain ecosystem in the MENA region. Crypto Oasis recently announced that there are 1000 blockchain crypto companies in the UAE. During Davos CryptoOasis which had targeted 1000 Blockchain and crypto entities by end of 2022, re assessed its aim given that already 1000 blockchain and crypto companies have set up base in the UAE. Crypto Oasis is now aiming to have 1500 Blockchain crypto companies set up in UAE by end of 2022, and it looks like EnjinStarter could be one of them.

In the crypto Oasis press release, Ralf Glabischnig, Founder of Crypto Oasis said, “This is an exciting time for us as we exceed expectations considerably month after month. Our target for the year has been achieved already and we’re anticipating exceptional growth in the future. The first months of 2022 have already shown that the key pillars of growing and building the Ecosystem are talent, capital and infrastructure. We believe we are still at an early stage but with the speed of development and growth that we see day by day across the community in this region, we look forward to further advancing the Blockchain economy in the Middle East.”

In the UAE today 53 percent of organizations active in the Blockchain space are native Blockchain entities, which mean their primary focus is blockchain technology, the rest are non-native blockchain organizations which means they offer services or product related to blockchain but not as their primary focus.

Investing in Properties in Lebanon now through Fractional NFTs

Investing in Properties in Lebanon now through Fractional NFTs

Three villas in Lebanon can now be bought using fractional NFTs ( Non Fungible Tokens). Utilizing Aqarchain which is the first crowdfunding fractional NFT investment platform for properties globally, investors of all income levels can own a piece of property in Lebanon and make a return on investment by receiving dividends from rent and sales.

Aqarchain.io has listed Villa Ekolu valued at 640,000 USD divided into 3,746 shares and so far 10.73 percent has been subscribed to it. Aqarchain is offering 7 percent guaranteed Return on Investment.

There are two other villas as well Villa Ekahi valued at 525,000 USD and Villa Hauoli valued at 415,000 USD.

This is the first time property in Lebanon has been tokenized as NFTs and listed.

Aqarchain,  a blockchain powered real estate asset tokenization platform, which aims to create a decentralized ecosystem where investment in real estate is as easy as investing in shares on the stock market, has now launched a NFT marketplace.

Aqarchain mints real estate NFT and fractionalizes it. The company has developed the world’s First Decentralized Real Estate NFT marketplace with a MetaVerse.