Crypto.com and Coca Cola offer Fans of World Cup FIFA 2022 from GCC and MENA NFT collection

Crypto.com and Coca Cola offer Fans of World Cup FIFA 2022 from GCC and MENA NFT collection

Coca-Cola and Crypto.com, sponsor of Qatar World Cup 2022, have teamed up to launch an NFT collection inspired by the Qatar 2022 FIFA World Cup. The collection, created in collaboration with digital artist GMUNK, is based on “heat maps” that visually represent the movements and highlights of the tournament’s players. GMUNK has created 10,000 NFTs based on these heat maps, which will be available to fans on the Crypto.com NFT platform from May 1 to July 31, 2022.

To access the NFT collection, fans will need to create an account on the Crypto.com NFT platform and visit Coca-Cola’s fan zone page to mint a token. The Coca-Cola fan zone is a digital hub for the Qatar 2022 FIFA World Cup that offers fans the opportunity to experience thrills, excitement, games, and moments to remember during the tournament.

 In addition to the NFT collection, the fan zone includes leaderboards, pledges, and predictions, allowing fans to compete with each other and interact with the tournament in real-time.

As per some news websites the registration sites for the NFTs are offered on either Coca-cola Middle East or the fan zone links officially provided for residents living in Qatar, Saudi Arabia, or the United Arab Emirates.

Just after the announcement Crypto.com’s CRO token (CRO) gained value this week. CRO climbed as much as 10% after the press release hit, and though it slipped to a 8.5% advance at press time CRO remains one of the top performing digital assets on Monday 5th of December. Despite this, CRO token remains lower by about 50% over the past month in the FTX-related crumbling in the cryptocurrency markets. CRO is down nearly 90% year over year.

This is the first World Cup that has not only features Blockchain and crypto sponsors but tokens and NFTs, growing the interest in both in the MENA region.

World Cup Qatar 2022 fan tokens a catalyst for mass crypto adoption

World Cup Qatar 2022 fan tokens a catalyst for mass crypto adoption

Qatar’s World Cup 2022 is a first in many ways. It is not only the first to be held in an Arab country but also the first to have crypto and blockchain sponsors, namely Algorand and Crypto.com, and the first to introduce fan tokens, NFTs, and metaverse experiences. Consequently, these actions have spurred the market capitalization of fan tokens to $300 million at the onset of the World Cup according to CoinGecko.

Fan tokens for FIFA

World Cup 2022 NFT Collection was launched with Algorand blockchain technology. FIFA fans now have the opportunity to attend the tournaments and enjoy a VIP experience thanks to the official digital collectibles. In this sense, they are one of the first utility NFTs in the World Cup space. Costing as low as $4.99, 216,862 packs had been claimed by Nov. 23 from the FIFA+ Collect website out of a collection of 532,980 packs, which include 1,593,480 NFTs. Users can purchase packs using credit cards or USDC-A on the Algorand network.

Moreover, the FIFA World Cup 2022 collaborated with Matchday, a company that developed a social prediction game based on football cards, and Upland, a company that built a virtual replica of the Lusail Stadium in Qatar for fans to visit the metaverse using collectible NFTs.

Will this impact the growth of fan tokens in the region?Nabil Al Sayed, the founder of the MENA-based Nifty NFT marketplace, believes that FIFA’s approach to Web3 is reassuring.

“Football has a great fan base, and the World Cup has an even bigger one,” he explains. “This adoption of Web3 by FIFA helps engage a wider base of fans in this new space, introduces a new world to fans also gives a nudge to the ones on the fence and also proves that Web3 is the future and it is here to stay.”

Al Sayed adds that these partnerships “are just the beginning for what is yet to come.”

However, the founder of UAE Web3 social engagement platform Bonuz, Matthias Mende, says the current efforts are not enough, and that FIFA faces challenges in making their NFTs simple and friendly to purchase as well as relieving fans of gas fees.

He states, “The greatest outcome to incentivize fans to purchase FIFA NFTs is their affordable prices. Nevertheless, acquiring the FIFA NFTs should be done with gasless payments, which are currently not available on Algorand.”

FIFA is not the only entity offering fan tokens and NFTs. Binance, for example, is offering $1 million in rewards in its Web3 Blockchain-enabled football challenge. UAE-based KoinBasket, a crypto investment firm, put up 100 million Bitcoin Satoshis for grabs, and Bybit crypto exchange, which had applied for a license in Dubai through VARA, is offering 500,000 in USDT as a prize pool in celebration of the World Cup.

Are these successful campaigns to gauge fan interest?Al Sayed believes that the secret behind successful fan NFTs and tokens is the utilities that these assets hold. He explains that NFTs allow fans to “participate in voting polls for the team, go on a hunt for digital collectibles, purchase gated NFTs, and enjoy gamification features tied with fan rewards or virtual experiences.”

As for Mende, NFTs that provide “Proof of Attendance” coupled with a quest map requesting users to carry out tasks might be effective to increase and measure social engagement.

“Using this strategy, companies can rate which community members add value and which are merely attendees,” Mende expounds. “Companies can filter benefits based on these data points and determine who to grant benefits to.”

Future of sport NFTs and fan tokens in MENA

Al Sayed reiterates, “This is the first step to a whole new way of consuming sports. We are just scratching the surface. This year it started with fan tokens, and by 2026 we will be seeing more immersive experiences and a wider range of products beyond tokens and games.”

Blockchain will be the norm for the upcoming World Cup, Mende predicts. According to him, the general public will see the emergence of “Tracking NFTs.” Since these NFTs will track users’ activity in a similar way that cookies do, they will provide a high level of transparency for understanding real user behavior. “Users will be happy to exchange this data for NFTs, digital rewards, and virtual benefits,” he claims.

Visa launches NFT auction for FIFA World Cup Qatar Fans on crypto.com

Visa launches NFT auction for FIFA World Cup Qatar Fans on crypto.com

Visa the Official Payment Technology Partner of FIFA unveiled Visa Masters of Movement, a first-of its-kind hybrid experience featuring a pre-event NFT auction and immersive activation for fans at FIFA World Cup Qatar 2022™.

The Visa Masters of Movement auction features digital art inspired by iconic goals from five legendary footballers that have been minted into unique NFTs, available on Crypto.com.

Later this month, the experience will come to life on an interactive pitch at the FIFA Fan Festival™ in Doha, Qatar and allow fans to create digital art inspired by their own signature movements. 

Eligible fans will have the option to mint this digital art into their own NFT in partnership with Crypto.com, the official cryptocurrency trading platform sponsor of FIFA World Cup Qatar 2022™.

Visa states, “As FIFA World Cup 2022™ approaches, we want to celebrate football, art and technology through the lens of what makes the FIFA World Cup™ so special – wildly impassioned fans, legendary athletes and for a few short weeks, the ability to bring the world together in a uniquely connected way”

Starting Wednesday 1st of November (12:00pm GMT) through November 8 (9:00pm GMT), football fans can bid on the Visa Masters of Movement NFTs on Crypto.com. The auction brings together five unique works of art inspired by iconic FIFA World Cup™ and FIFA Women’s World Cup™ goals from legendary footballers: Jared Borgetti, Tim Cahill, Carli Lloyd, Michael Owen and Maxi Rodriguez minted into NFTs. The digital artwork was designed using an algorithm by award-winning XK Studios which transformed the iconic movements into dynamic works of art.

 A unique collector’s item, fans with the highest bid for each NFT at the close of the auction will receive the NFT in their Crypto.com wallet along with a high-quality printable art file and signed memorabilia from the legendary player featured in the NFT.

Visa will grant all auction proceeds to Street Child United, a charitable organization incorporated and operating in the United Kingdom, whose mission is to tackle the widespread stigma that street-connected children face globally.

“The FIFA World Cup™ is one of the most anticipated sporting events in the world, and we are incredibly excited to give fans a new way to engage with this epic event,” said Steven Kalifowitz, Chief Marketing Officer at Crypto.com. “We are thrilled to partner with Visa in bringing Visa Masters of Movement to life and offering fans the opportunity to create and collect the most unique collectibles at FIFA World Cup Qatar 2022™ that will live forever on the blockchain.”

Maxya Proof of Useful Work Blockchain platform launches from Qatar

Maxya Proof of Useful Work Blockchain platform launches from Qatar

Two professors at Qatar university came together to build a blockchain network from scratch that would not only be utilized as a ledger but also as a super computer. They named it Maxya given that its consensus mechanism creates added value by solving optimization problems for business.

Lebanese-Canadian national Mazen El Masri, Co-Founder and CEO and  Syrian-French national Karim Yafi, CO-Founder and CTO, of Genesis Technologies, the tech company which developed Maxya, both Associate Professors at Qatar University started their project three years ago with a $2.6 million fund for an applied research program from Qatar National Research Fund, today they have launched MaxYa test net and are testing it with Qatar’s local sectors.

The duo developed their consensus mechanism which they called “Proof of Useful Work”.  The Proof-of-Useful-Work (PoUW)” is an alternative mechanism for transaction validation that repurposes the squandered computing resources to beneficial use. Their main premise was to replace the mathematical puzzle, which constitutes a fundamental part of the (PoW) Proof-of-Work mechanism, with NP-hard optimization problems whose solutions benefit the participants of the blockchain.

The PoUW prototype received interest from investors and customers which led Qatar University to register its Qatar University Holding Company (QU Holding) as a commercial umbrella for supporting the spinoffs of QU faculty. Genesis Technologies is their first spin off.  Qatar University currently owns 10 percent of Genesis Technologies.

Al Yafi explained to Laraontheblock the nature of their PoUW platform, “We wanted to develop a blockchain where the computation power necessary to maintain the validation of Blockchain to solve useful problems would give the blockchain a meaning beyond just hash values. Instead of spending a huge amount of energy and computation power to create a block, which once created is useless, we want to use the computation power for something useful, where miner who finds the solution, i.e. the block, gets rewarded.”

Maxya blockchain platform, which can be a permission or permissionless based blockchain, solves very difficult mathematical optimization problems. Examples can include portfolio optimization, scheduling, supply chain management routing, optimizing port operations, genetic sequencing and precision medicine and many more s. As Al Yafi explains, “The problem is given to the miners that then compete fairly amongst each other to solve it, it includes trial and error, and there is a randomness which keeps the network fair. The First miner to come up with a useful solution is rewarded. The Solution becomes part of the block. It is very secure because in order to hack the blockchain they have to solve all the problems that will happen after the block is hashed.” The first use case for Maxya PoUW was a useful output for a maritime transportation problem.

An interesting feature of Maxya blockchain is that anyone with a regular laptop can participate as a node. So whether you have a supercomputer or a laptop both can equally compete. El Masri states, “For the first time it is not the one with the better hardware that has a better chance of mining a block, but it is more democratic, everyone has a chance. This method reduces energy consumption which is good. But MaxYa becomes carbon negative when its consensus mechanism solves optimization problems in industries like supply chains and logistics. We proved that MaxYa can minimize the movement of cargo ships and at the same time reduce shipping cost and time on shippers. This is when MaxYa can become carbon negative. We are carbon negative because not only do we use minimum energy we also offer a useful solution which offsets the energy we do use. If launched with sufficient optimization problems to solve, MaxYa can use less energy than Polygon.”

Currently, Maxya Blockchain can carry out around 300 transactions within 8 seconds. While the block is heavy because it contains the solution being worked on, the team is compressing the data to make it lighter. Transactions happen on-chain, while data files are embedded in Maxya’s off-chain distributed cloud system.

Maxya’s prototype is in test net phase using a logistics problem. Yafi tells LaraontheBlock, “We are planning to utilize Maxya for logistics optimization with partners in Qatar. We also plan to help optimize stowing on ports. At the same time we are in conversations with entities in the USA to optimize sequencing for precision drugs and in Canada to launch MaxYa globally. Maxya can solve a range of problems. This means the value of Maxya as a blockchain is not just in managing transactions, but providing valuable solutions. It is a ledger and a decentralized computer.”

The founders envision that Maxya will be the blockchain that can fully support Web3 environments, given that miners are incentivized and the more the incentives the more sustainable the blockchain. Eventually both founders believe that at some point Maxya will move to become a public blockchain, with an open source code and Genesis Technologies will continue to build solutions on top of Maxya.

Al Yafi states, “ At the moment Maxya’s source code is closed as we register a couple of IPs and patents, but in the future if we want it to grow, we will have to make it public, Genesis technology will continue to be a part of the community, and we envision both private and public versions of Maxya.”

In terms of the recent Qatar Blockchain Blueprint, Yafi emphasizes, “We are at the center of this initiative and have been for the past five years, we have partners and strong cooperation from Qatar Financial center and various Ministries.”

Henk Jan Hoogendoorn, Chief Financial Sector Officer at Qatar Financial Centre Authority stated on LinkedIn, ” We are very proud of Qatar’s Blockchain development called Maxya, developed by Genesis Technologies and Qatar University and their team. Qatar Financial Centre ( QFC) and Qatar Fintech Hub are supporting them to commercialize Maxya to government and financial institutions.” 

Qatar releases National Blockchain Blueprint

Qatar releases National Blockchain Blueprint

Qatar has finally started to truly embrace blockchain. The Communications Regulatory Authority has launched a national consultation paper about the “National Blockchain Blueprint for Qatar”.

The paper was collaboratively developed by CRA, Hamad Bin Khalifa University, and Qatar University. Qatar university recently announced its foray into the metaverse.

The consultation paper will establish the blueprint for the blockchain framework in Qatar. It identifies key elements such as regulations, adoption, innovation and creativity. It also identifies the key blockchain requirements.

The National Blockchain Blueprint highlights how blockchain technology can contribute to building an innovative and growing IT sector in Qatar by increasing domestic and foreign investment as stated in the CRA Strategy 2021-2025, to support Qatar National Vision 2030 (QNV) and Qatar National Development Strategy, as well as to enabling a seamless transition towards smart Qatar.

The blueprint examines the most prominent opportunities that blockchain could bring to various governmental and business sectors. It also outlines the necessities and incentives that must be provided by each sector for the technology adoption that contribute to emerging start-ups, pilot projects and new companies.

“The National Blockchain Blueprint highlights how blockchain technology can contribute to building an innovative and growing IT sector that contributes to increasing domestic and foreign investment, which supports Qatar National Vision 2030 and Qatar National Development Strategy,” said Ali Al Suwaidi, Technical Affairs Department Director, CRA.

He adds, “The regulation is important to protect users and provide the adequate legal framework that allows blockchain innovation and adoption. I would like to thank Hamad Bin Khalifa University and Qatar University for all their efforts and cooperation in developing this blueprint and we look forward to our further collaboration in the future.”

As per the consultation paper, In Qatar, the key governmental stakeholders that should be involved in regulating Blockchain are Qatar Central Bank (QCB) for cryptocurrencies and financial transactions, as well as ICO offerings, the Qatar Development Bank regulating investment related activities and providing incentives for blockchain.

In addition government entities also to be  involved are the Ministry of Communications and Information Technology (MCIT) with its Innovation Centre for blockchain technology; Ministry of Justice, to formulize the legal framework, and the National Cybersecurity Agency, for data classification and cyber security.

The consultation paper recommends establishing a national regulatory foundation guide in the form of a study of the common services’ regulatory requirements alongside benchmarking with relevant international examples.

They also recommend engaging different potential stakeholders and regulators in an open discussion about potential technology use cases and their associated regulatory requirements.

Finally they recommend establishing a country-wide initiative in the form of a government-led consortium with wide involvement from the private sector to kick-off the creation of country strategy as well as initiate and coordinate the regulatory activities.

Qatar also wants to establish a high-performance cloud-based blockchain platform to accelerate and facilitate prototyping and testing, with priority given to pilot projects and start-ups. 

Stakeholders and concerned parties can submit their related views and comments by emailing nbbconsultation@cra.gov.qa, by not later than Thursday, September 15, 2022.

Qatar has had an on and off relationship with both crypto and blockchain. In May of 2022, Don Tapcott, renowned blockchain expert was a speaker at the Blockchain revolution Summit.  In the meantime the CEO of Qatar Sovereign Wealth Fund praised blockchain but shunned crypto. Yet the Central Bank governor stated that crypto assets are a technological innovation that will take the country into a new era of fast accessible payments and services. 

It seems that finally Qatar has embraced Blockchain and crypto and hopefully will quickly step up the pace. 

Qatar University joins a handful of global universities in the metaverse

Qatar University joins a handful of global universities in the metaverse

Qatar University has signed an MOU with Metavisionaries, a community of change makers, thought leaders and industry experts who are committed to providing access to the space economy and frontier technologies to build socially inclusive competency and human capacity required to meet immediate and future sustainability challenges.

Metavisionaries is offering MetaEduVersity and space campus the Metaship which utilizes web3 and the metaverse combined with our physical SPACE INNOVATION LABS with our partners ICE Cubes.

Qatar University while espousing to be the first university in the metaverse, will actually be joining 10 other US based universities who will be offering metaverse experience in the fall of 2022. Prior to Qatar University announcement, ten universities are getting set to launch their own metaversities this fall to provide students and professors with a “digital twin” replica campus in which to attend courses, using a Meta Quest 2 virtual reality headset provided through a partnership with VictoryXR and Meta.

The announcement said students at Morehouse College in Georgia, the University of Kansas School of Nursing, New Mexico State University, South Dakota State University, Florida A&M University, West Virginia University, Southwestern Oregon Community College, California State University, Alabama A&M University and University of Maryland Global Campus will be able to use the technology to attend courses synchronously from anywhere.

In addition the University of Tokyo also announced it will be launching a wide range of educational programs in the metaverse in 2022. The international Space University, also entered the metaverse with Metavisionaries in the Metaship for an onsite lecture. 

As for Qatar University, Dr. Omar Al Ansari Vice-President for Academic Affairs at Qatar University, was sent to the International Space Station through Metavisonaries’ partners, ICE Cubes and Malleth II Program in which he stated, “I am proud to be inspiring our next generation with Metavisionaries by bringing space curricula to the masses and providing them with immersive learning experiences to prepare them to create sustainable future and a better world for all.”

During her keynote speech that took place in the metaverse spaceship, Dean Sobh said: “As the National leading university in Qatar and top ranked in the region, we should take the lead in pushing boundaries and keep reinventing our purpose, curricula and pedagogies to remain relevant and prepare our graduate for success in an increasingly turbulent, uncertain and challenging environment. Web 3.0 will play an ever-increasing role in education in the next few decades. When the history of the educational metaverse is written, we would like to be cited as one of the ground-breaking universities.”

She added that the College of Business and Economics is partnering with Metavisionaries, Ice cubes, Space applications and other global partners to launch a Global Space Sustainability challenge that would bring together students from different disciplines and universities around the globe in the aim to come up with innovative solutions that tackle pressing issues related to one or more areas of Sustainable Development Goals.

“We need to reimagine business and should no longer make trade-offs between profit and advancing sustainability. We can achieve synergies between the two and leverage space to help achieve that,” said Dean Sobh.

Wasim Ahmed, CEO for Metavisionaries, said: “The pandemic accelerated the rate of technology adoption in the education sector. Web 3.0 and the Metaverse are paving the way for education to be reimagined. In that sense, the partnership with Qatar University showcases the university’s determination to play a leading role in shaping and enabling the transformation to prepare future generations for the future of work.”

  • NFT
  • 0
  • Closed
  • 3 min read

Etihad Airways beats Emirates and Qatar Airlines with the launch of NFT collection on Polygon

Etihad Airways beats Emirates and Qatar Airlines with the launch of NFT collection on Polygon

While Emirates Airlines was the first to speak about the launch of NFTs, metaverse and so forth, and Qatar airlines followed with its own metaverse initiative with talk about NFTs to be included, it was Etihad Airline who actually will be launching its own NFT collection on Polygon in July 2022.

Under the name EY-ZERO1, UAE Etihad airlines will be launching the utility-driven NFT series features of ten highly detailed 3D aircraft models, each one showcasing a unique Etihad Airways Boeing 787 Dreamliner livery. The NFT Collection will encompass a total of 2003 limited edition collectibles, symbolizing the year when Etihad Airways was established. The NFT Collection will go on sale at 6pm UAE time on 21st of July. The collectibles include Etihad’s Manchester City FC and Greenliner-themed aircraft, among others.

“We’re excited to launch our first NFT collection, EY-ZERO1, which not only offers collectors, aviation enthusiasts and travelers a unique work of art, but provides real-world travel and lifestyle benefits with Etihad Airways. NFTs and other metaverse technologies are revolutionizing the digital economy, and we are proud to be one of the first airlines in the world to explore their potential to provide additional utility for our customers” , said Tony Douglas, Group Chief Executive Officer, Etihad Aviation Group.

Purchasing an NFT will give owners immediate Etihad Guest Silver tier membership for one year, with 10 lucky NFT holders winning complimentary flight tickets with Etihad. NFT owners will also be given advance access to upcoming NFT collections as well as future metaverse products which the airline has planned as part of its Web3 strategy.

To celebrate the new collection, Etihad will be giving away 20 NFTs to people who pre-register on etihad.com/zero1 by 16 July. Each NFT will be priced at US$349 plus tax on etihad.arcube.io, and the sale will close on 18 August at 6pm UAE time.

The NFTs will also be available to purchase through the Etihad Guest Reward Shop, meaning the airline’s 7 million loyalty program members can redeem their Etihad Guest Miles to acquire an NFT.

EY-ZERO1 is set to be minted on Polygon blockchain, and Etihad Airways will be partnering with Aerial.is to track the CO2 emissions of the NFTs. In addition to offsetting the entire carbon footprint of the project, the airline will allocate all proceeds from the collection to purchase sustainable aviation fuel in 2022.

“As well as recognizing the artistic value of our aircraft liveries, our NFT collection has been designed to be as efficient as possible and support our wider sustainability and decarbonization efforts at Etihad Airways,” said  Douglas.

UAE Blockchain enabled Data and Location-driven marketing company accepts crypto payments

UAE Blockchain enabled Data and Location-driven marketing company accepts crypto payments

UAE based data and location-driven marketing services company, MEmob which utilizes blockchain technology to offer advanced and effective advertising services, is now accepting crypto payments

As per their announcement, MEmob is assisting entrepreneurs, crypto investors, agencies, and brands as well as decentralized apps (DAPPs), data oracles, blockchain firms, and crypto exchanges by offering them the opportunity to pay in cryptocurrencies. Ihab El Yaman, CEO of MEmob stated, “By backing blockchain technology, embracing it, and accepting cryptocurrencies as payments, we are saying that we believe in this long-term.”

MEmob was one of the first tech companies in MENA to integrate blockchain technology into its operations; MEmob is presently well positioned to enhance digital marketing activations & performance and has strict control over data flow and GDPR adherence. MEmob is trusted by top brands to harness their data for growth and ROI maximization.

Ihab El Yaman added, “I believe, Blockchain, with all its implementations, mistakes, and corrections, will become available to every user with access. Blockchain technology and cryptocurrencies will surely evolve and power the new internet. As we’ve seen with the internet and its use cases over the last 14 years of innovation, this new technology – blockchain too will evolve, possibly over the next ten years. But I am positive that in the near future, hospitals, governments, and financial systems will embrace this technology and reap the benefits. Blockchain integration empowers businesses to unlock endless opportunities to create a global digital footprint. It’s time that we all take active steps towards near future implementation. Also, it goes without saying that the rise of blockchain will eventually bring about a revolution and change the world as we see it now. The best is indeed yet to come.

Qatar to crypto or not to crypto that is the question

Qatar to crypto or not to crypto that is the question

This week Qatar made headlines in the Blockchain, crypto, NFT and metaverse scene on several fronts. While the CEO of Qatar  Sovereign Wealth Fund praised Blockchain but shunned crypto, Qatar’s Central Bank Governor stated that crypto assets are a technology innovation that will take us to a new era of fast accessible payments and financial services. Topping all this was Qatar Airways increased foray into the realm of the metaverse, and NFTs.

It seems that while the government of Qatar has yet to make up its mind on whether it wants to enter the era of cryptocurrencies, or whether they agree that crypto will have to be dealt with at one point or another, they are taking steps towards integrating elements of blockchain and CBDC into their strategies.During the Qatar Economic Forum Qatar Central Bank Governor Bandar Bin Mohammed Bin Saoud Al Thani admitted that Qatar is in the foundation stage of investigating a central bank Digital Currency (CBDC). As he noted, “Many central banks are now considering issuing CBDC, and we are not an exception to that. We are evaluating the pros and cons of issuing the CBDC and to find the proper and the right technology and the platform to issue.”He then noted, “Crypto assets are a technology innovation, and in my view it might take us to a new era of fast accessible payment and financial services.  “Those crypto assets which are not underlying by assets or monetary authority might be less credible.”

On the other hand Qatar’s sovereign wealth fund CEO Mansoor Al Mahmoud revealed that the wealth fund has no interest in investing in Bitcoin, but is still very much interested in exploring blockchain.

He was noted as saying, “Our team in the technology space is exploring opportunities in the blockchain,” Al Mahmoud said in an interview. He adds “This is the space that we’re interested in, not the currency itself.”

In the midst of these discussions Qatar Airways expressed its intention to include the purchase of tickets for physical flights through the QVerse metaverse, and the incorporation of NFTs. 

All this comes while the FIFA World Cup 2022 has partnered with the likes of crypto.com and Algorand Blockchain, and crypto exchange CoinMENA announces it is servicing clients in Qatar through its license in Bahrain. 

Qatar at one point will have to come to grips with the fact that with blockchain the metaverse and digitization comes digital assets, whether they are called cryptocurrencies, crypto assets, virtual assets, tokens or NFTs.

For example if Qatar were to utilize blockchain in the energy sector, and work with companies such as PermianChain which is tokenizing natural resources such as flared gas, and if they wanted to utilize PermianChain’s energy token marketplace, they would at some point need to use the DEC Token to optimize their experience. Tokens and Blockchain go hand in hand despite attempts to de-couple them.

One cannot implement blockchain, invest in blockchain nor create a CBDC to be held in digital wallets, without addressing the elephant in the room which is crypto and or digital asset. So instead of being the black sheep of the GCC Crypto hype, wouldn’t it be better if Qatar was the winning stallion.

Blockchain Expert Don Tapscott speaking at Blockchain Revolution Summit in Qatar

Blockchain Expert Don Tapscott speaking at Blockchain Revolution Summit in Qatar

Qatar will witness a blockchain revolution summit on the 26th of May 2022 at St. Regis Doha Qatar, with the participation of Dr. Don Tapscott, Executive Chairman of the Blockchain Research Institute, and well known as a leading Blockchain expert.

The summit is being organized by the Blockchain Research Institute Middle East, the first regional branch of Blockchain Research Institute based out of Qatar. The event is set to discuss opportunities to create industry solution frameworks and guidelines leveraging blockchain technologies to secure data, reduce costs and improve timelines.

The interesting highlights of this summit are the speakers and sponsors. Aside from Don Tapscott, speakers include Fadi Nasser, Chief Commercial Officer of Meeza Qatar. Meeza is also sponsoring the event. Nebil Ben Aissa, Chief Executive officer for Nexxo, a private equity investment network dedicated to FinTech is also participating.

In addition Khalid Al Ansari a Doctor of Law (JD) and a Ph.D. candidate in Islamic Finance and Economy at Hamad Bin Khalifa University in Doha, Qatar currently working on finalizing his Ph.D. dissertation in digital economy and blockchain, is also participating as a speaker.  

While both, Shahid A Syed, Head of Transaction Banking & Innovation Dukhan Bank and Mr. Gudni Stiholt Adalsteinsson Acting CEO Doha Bank & Chief Treasury & Investment Officer are also participating as speakers with Doha Bank sponsoring as well.

Dr. Ammar Darwish Al-Obaidani President of the Oman Blockchain Club (2017-2019) is also participating. Since 2019, he has been leading a government company that develops customized integrated digital solutions as a CEO (Frontier Technology LLC).

The significance lies in the level of participants which including the banking and academic sector as well as investors.

This summit comes at a significant time in Qatar. In April for example Qatar Airways announced  it has stepped into the metaverse with the launch of Qverse a Virtual reality experience for visitors on its website with MetaHuman cabin crew, called Sama giving virtual tours. Sama’s name originates from Arabic and translates to ‘sky’. She is a high fidelity digital human brought to life using Epic Games’ Unreal Engine, real-time 3D creation tool that’s used by leading game makers. Neutral Digital developed the VR experience for Qatar airways.

In addition Ooreedo Qatar, mobile telecom group, will be holding its EA Sports FIFA22 Champions Cup being entirely broadcasted in the metaverse and will offer exclusive NFT tokens. The tournament is taking place on May May 24, 25, and 28 at Aspire Ladies Sports Hall in Doha in front of e-Sports enthusiasts who will get the chance to see prominent gamers compete for the title.

Major FIFA and Qatari influencers will also attend the tournament, in addition to a plethora of entertainment and activities to ensure an unforgettable night. Ooredoo Nation – Gamers’ Land, the company’s own eSports brand, will also offer a selection of exclusive non-fungible tokens (NFTs).

“We are proud and excited to be venturing into the world of Web 3.0 technologies with this latest eSports development, which aligns perfectly with our strategic commitment to investment in innovation,” said Nasser bin Hamad bin Nasser Al Thani, Chief Commercial Officer at Ooredoo.

“We see eSports as one of the key areas of focus in this digital era, and an area in which we can explore the many opportunities to offer our customers an unrivalled experience.”

This comes after FIFA2022 announced that crypto.com will be sponsoring and AlGorand Blockchain will be a partner. It also comes after CoinMENA, crypto exchange announced it is serving clients in Qatar which prompted a reply from Qatar Central Bank noting that it has not licensed any crypto exchanges in Qatar and will take legal actions against any crypto exchange which claims to be operating with a license in Qatar. When questioned by LaraontheBlock Dina Semaan noted, “ People took this out of context, we never said we were licensed or regulated in Qatar, we said we now offer our services to Qatar, which could be from any location in the world and in this case from our licensed entity in Bahrain.” She added, “We can support all GCC countries and other MENA countries upon approval from Central Bank of Bahrain.”