Blockchain AI real estate DAO sets up in UAE

Blockchain AI real estate DAO sets up in UAE

BrickLayer DAO a tokenized RWA platform built on Blockchain, and AI, for real estate has set up in the UAE and is seeking a license from FSRA in ADGM (Abu Dhabi Global Market) as well as a license in VARA (Dubai’s virtual asset regulatory Authority).

According to their website, Bricklayer platform is fueled by AI and virtual assets, providing a decentralized Blockchain access to institutional grade real estate. It also offers over-leverage crypto holders with access to institutional real estate without sacrificing the speculative gains, providing consistent change to real yield dividends in ‘$MORTAR’.

As per their website and linkedIn post, Bricklayer DAO is in the process of being regulating under FRSA, VARA and UAE common law, giving a legal layer of protection to investors.

Nick Prescott one of the founders who was a former executive at Amazon and now the co-founder of BrickLayer explored blockchain but faced uncertainty in picking genuine projects. Nick’s frustration with corporate hierarchies fueleda quest for a blended solution—a platform combining blockchain’s speculative nature with REIT’s stability, all while giving investors a voice.

Nick delved into DAOs, decentralized environments where everyone’s voice matters. After completing a cryptocurrency course at MIT, he left Amazon and founded Bricklayer. This real estate fund, powered by Ethereum blockchain, adopted a decentralized strategy influenced by $BRICKS token holders. It offered a unique blend of speculation, hedged with one of the safest of asset classes.

Bricklayer is now incorporated the UAE. Bricklayer aspires to become the Robinhood of real estate, reshaping the traditional landlord-occupier dynamic. As stated, “We’re committed to increasing leasehold flexibility and reducing occupational costs, forging partnerships with occupiers to create a more equitable and flexible real estate ecosystem. Bricklayer is dedicated to advancing blockchain adoption within the real estate industry. We’re on a mission to persuade vendors to embrace virtual assets as a valid form of exchange in real estate transactions, ushering in a new era of efficiency and transparency.”

Tokenization of real estate in UAE is picking up with recent Desert Pearl project.

CZ embarks on free education using blockchain, and soul bound tokens

CZ embarks on free education using blockchain, and soul bound tokens

Former Binance CEO Changpeng Zhao has started a new project that has nothing to do with crypto but includes gaming, education, blockchain and NFTs (Non Fungible Tokens) as soul bound tokens. The project called Giggle Academy aims to offer high quality education that is free to all.

As CZ notes on X, “Building a high-quality and sticky education platform that is entirely free and accessible to all is the most impactful thing I could do for the next chapter of my life.”

The platform will include gamification to make learning addictive. It will include high quality content from the best teachers and game developers in the world.

NFTs will be uses for badges, points, scores, rankings and more. Levels and badges will be issued as Soul Bound Tokens. SBT are blockchain based tokens that cannot be transferred to others. Potential employers can easily verify them on the blockchain, with the students’ permission.

As per the concept paper while current schools tend to encourage kids to be “average”. Ie, you are good at math, but weak in English, so you should spend more time on English than Math. Giggle Academy leans towards the opposite. Students who are good at Math will be nudged to focus more on math, and less on other subjects.

In the concept paper it notes,” We feel this is the most effective way for them to be the strongest at what they do best, and make themselves most valuable to the world.”

There will be no degrees but giggle points, levels and badges.  A Giggle level or badge system will be developed to identify how far a student has progressed on a certain subject. For example, Science Level 391 Purple Badge could mean Grade 3, 91% completion, at top 20 percentile.

CZ does not want to make revenues from Giggle Academy.

He adds, “ I chose this project because my area of expertise is building (teams to build) software platforms. We (together with a team) can reach hundreds of millions of people. This is scalable, and thus high impact. In addition, education is fundamental to everything in our world. Give a man a fish vs teach a man to fish. This is the most impactful thing that I could come up with for the next chapter of my life.”

This comes in parallel with an interesting development happening in the blockchain ecosystem. The new terminology, Decentralized Science (DeSci) is a movement aiming to build public infrastructure for scientific research using Web3 technologies.

DeSci allows for more funding sources, censorship-free collaboration, and open access to research data. By leveraging blockchain technology, DeSci has the potential to make science more decentralized, transparent, and accessible.

Essentially, DeSci aims to broaden access to scientific data, promote more transparent peer review processes, and incentivize international collaboration among researchers. By leveraging blockchain technology, DeSci can ensure the integrity and immutability of scientific records while eliminating barriers to entry.

DeSci can revolutionize the allocation of research funds through mechanisms such as quadratic donations and decentralized autonomous organizations (DAOs). This promotes a fairer distribution of resources.

DeSci may increase accessibility by leveraging blockchain-based research repositories. This can ensure that scientific data and publications are stored transparently on a decentralized ledger, making them more accessible. Smart contracts can govern access to data, typically ensuring its fair and secure distribution.

DeSci can introduce incentives for reproducibility, such as token rewards and reputation systems. Smart contracts can facilitate transparent and verifiable peer review processes, incentivizing researchers to make reproducible scientific work. This typically improves the reliability of scientific findings.

But most importantly just like CZ’s project, DeSci platforms can promote open access to scientific data and publications, democratizing access to knowledge. TradSci publishing models tend to involve subscription fees and access barriers, often limiting the distribution of research findings.

Layer1 Blockchain MANTRA applies for license in UAE

Layer1 Blockchain MANTRA applies for license in UAE

Layer 1 blockchain, MANTRA has announced that it has applied for a license in both the UAE and HongKong as it aims towards making real world asset tokenization mainstream.

MANTRA’s layer1 blockchain, known as MANTRA Chain, is designed to facilitate the issuance and trading of tokenized RWAs. MANTRA is on a mission to onboard financial organizations and other commercial enterprises that seek to tap into the many benefits tokenized RWAs have to offer.

As per the press release, by obtaining its first financial licenses in the UAE, MANTRA aims to position itself at the forefront of the rapidly evolving RWA sector throughout the Middle East and Asia.  MANTRA’s 2024 goal is to tokenize a diverse portfolio of assets including real estate, private market funds, private equity, art, and treasuries.

MANTRA CEO John Patrick Mullin stated, “Our vision is to spearhead the tokenization of Real-World Assets and set a global standard for security, compliance, and innovation. This will create a sustainable ecosystem for developers and institutions. By securing our foothold in strategic, crypto-friendly markets like Asia and the UAE, we’re not just navigating the future but actively building it. MANTRA will bridge the longstanding divide between traditional financial systems and the blockchain space, democratizing access to wealth and opportunity on a scale never seen before.”

In recent weeks, MANTRA has made headway in decentralizing its network, securing worldwide validator support. The imminent launch of the final MANTRA testnet, known as Hongbai, symbolizes a synergistic blend of Hong Kong and Dubai influences. Its deployment will be a pivotal step towards MANTRA Chain becoming the first RWA layer 1 on Cosmos.

The UAE is set to witness the launch of a large scale real estate blockchain tokenization project called Desert Pearl. Dubai based tokenization consultancy company, DDX, which is involved in both real estate and gold tokenization projects announced Desert Pearl.

Qatar shrimp farm to raise $285 million using security token offering

Qatar shrimp farm to raise $285 million using security token offering

Stobox Blockchain tokenization solution provider has announced that it will be working with Qatar based ICM Capital to raise $285 million for the biggest aqua marine shrimp farm using a security token offering (STO).

The project will introduce security token offerings for aquaculture industry utilizing Stobox’s expertise in tokenization and blockchain technology. Stobox offers Securities issuance, management, and trading on a blockchain.

Jason Jones Head of Global STO Sales Consulting & Client Project Management at Stobox, states, “Stobox will be handling the legal, technology and consulting requirements for the project.”

ICM Capital aims to raise $285 million for the development of the Shrimp Farm Project. This capital has been earmarked for scaling operations, enhancing sustainability practices, and ensuring the farm’s competitiveness on the global stage.

ICM Capital with headquarters in the UK, opened an office in Qatar as part of the firm’s expansion into the Middle East and North Africa (MENA). The multi-regulated broker gained authorization from the Qatar Financial Centre to establish a physical presence in the state.

As per Stobox announcement, through this tokenization effort, ICM Capital is not only seeking financial investment but also inviting global stakeholders to be a part of a sustainable and profitable future in aquaculture. Tokenization brings efficiency to the traditionally complex issuance of securities by leveraging blockchain technology, offering a more streamlined and technologically advanced approach to the entire process.

This comes as Qatar has moved full force into the digital assets field announcing its digital assets lab as well as upcoming digital assets regulatory framework. QFC has mentioned on several occasions that they are interested in seeing security token offerings, tokenization of real estate and more.

Blockchain real estate tokenization blossoms with Desert Pearl in UAE

Blockchain real estate tokenization blossoms with Desert Pearl in UAE

The UAE is set to witness the launch of a large scale real estate blockchain tokenization project called Desert Pearl. Dubai based tokenization consultancy company, DDX, which is involved in both real estate and gold tokenization projects announced Desert Pearl.

As per their website, “This amazing blockchain tokenization project will be the first large scale tokenization project.” The project vision is to create an eco-tourist attraction that combines Dubai’s history and heritage with the natural beauty of the desert.

The DDX Global team and its partners will build a desert resort city with hotels, apartments, shops, entertainment and business venues. Current plans are to build 1000 hotel rooms, 1200 apartments, a shopping mall and conference center, alongside an amazing pearl shaped building for tourism and entertainment (40 storeys high), as well as a Museum and Heritage center.

The project will be tokenized using Blockchain technology. Land tokens will be collaboratively minted by DDX Launchpad partners. DDX Global and its partners will carry out the development over the next 5 years.

Chris Santilhano, Chief Operating Officer of DDX Global  stated, “Our aim as a tokenization consultancy is to leverage blockchain technology for tokenizing real-world assets, we are committed to creating exceptional value for our investors. In addition to the opportunity for long-term value, our strategic approach of digitizing real estate assets will help strengthen liquidity and enhanced international investment in Dubai’s property sector. Our goal is to create a blue-print for responsible real estate tokenization. The integration and interaction of different tokens and their use cases contribute to the DDX Global ecosystem. We are bridging two core markets – the luxury property sector in Dubai with the growth in fintech enterprises driven by Web3 innovation.”

Designed by Zhuzh, a Dubai-based international luxury, bespoke architectural design company, Desert Pearl will feature two luxury hotels, luxury apartments, a high-end commercial cluster and a luxury retail precinct in addition to a boulevard and private marina. The luxury boutique hotel with 88 keys will also house an arena, an Arabic astronomy museum, planetarium, Concord’s Gallery, and hanging gardens.

The first residential building in Desert Pearl is the Qamar Residences, featuring the Pearl Collection of homes at 400 square meters, the Oasis Collection at 650 square meters and the Sky Penthouse, a triplex, will be a record breaking 5,000 square metres. All the items in the apartments will be customized. All these assets can be tokenized, delivering more value for investors. More details of the project will be announced shortly.

‘Desert Pearl’ resort in Dubai will combine sustainability and high-end tokenization.

UAE Fuze to tokenize gold with UK’s Minted Connect

UAE Fuze to tokenize gold with UK’s Minted Connect

In a recent press release, UAE based Fuze, digital assets infrastructure provider, has partnered with UK based Minted Connect; an FCA licensed and regulated API services platform to tokenize precious metals such as gold. Both entities will explore the tokenization of Real World Assets (RWA).

Minted Connect offers a cutting-edge API service that empowers businesses to seamlessly offer their customers access to buying, selling, transferring, and tokenizing 100% asset-backed precious metals.

Fuze is a VC-backed startup specializing in digital asset infrastructure, providing businesses in the MENA region with embedded experiences for their customers, facilitating access to innovative crypto and digital asset products through a regulatory-compliant infrastructure.

Fuze has already established partnerships with leading global and regional banks, fintech firms, financial institutions, and super apps.

The Middle East currently holds a substantial portion of the world’s above-ground gold reserves, with a staggering 1,174 tonnes securely held within the region. This represents not just wealth, but also a historical testament to the region’s deep-rooted affinity for precious metals.

Minted Connect and Fuze want to digitize of 1% of this gold, opening up unprecedented opportunities for individuals to easily save and invest in precious metals, making it accessible to all in a fractionized and digitized form.

Together, Minted Connect and Fuze are poised to transform the tokenization of Real World Assets, leveraging Minted Connect’s expertise in asset-backed precious metals and Fuze’s robust digital asset infrastructure.

This strategic partnership represents a pivotal moment for enabling businesses to tap into the value of real world assets through tokenization, providing new avenues for investment and financial inclusion.

“We’re thrilled to partner with Fuze,” said Shahid Munir, Co-Founder of Minted Connect. “This collaboration truly showcases our commitment to providing innovative and secure solutions for businesses seeking to offer asset-backed precious metals transactions to their customers. The path forward in this collaboration will be exciting for both entities, and will deliver a tangible impact on the industry.”

Commenting on the partnership, Mohammed Ali Yusuf (Mo Ali Yusuf), Co-Founder and CEO of Fuze said; “We are excited to sign this agreement with Minted Connect, who have already made significant innovations in the way people can trade precious metals. Integration with digital assets infrastructure is a game changer for businesses who want to roll out asset-backed, tokenized products to their customers in a secure and compliant manner.”

Others including Aurus believe that Precious metal owners can generate earnings on their gold and make it work for them just by holding it in tokenized form. UAE based Aurus Technologies, offered family offices the opportunity to tokenize real world assets through its sustainable tokenization as a service solution (TAAS) platform.

In 2022 UAE became the home for gold-backed token providers.

UAE Web3 blockchain gaming project, Exverse raises $3 million

UAE Web3 blockchain gaming project, Exverse raises $3 million

Exverse, a UAE Web3 blockchain gaming project, incubated by launchpads that include KuCoin Labs, Seedify, Epic Games, and ChainGPT, has raised $3 million in a private round led by Cogitent Ventures, Cointelligence, and Moonrock Capital.

It also had additional support from industry leaders such as KuCoin Labs, Epic Games, Seedify, and ChainGPT. The funding will power preparations for the game’s testnet and token launch, forge additional strategic partnerships, and expand its marketing efforts in the APAC region.

Before closing its private seed round, Exverse forged strategic partnerships with a wide range of entities to ensure the startup has a full arsenal of tools to develop the strongest possible game, alongside a robust business model and marketing strategy. Seedify and KuCoin Labs provided guidance and mentorship via their incubation programs—with ChainGPT preparing Exverse for its upcoming launch —and Maven Capital advising the startup on its go-to-market strategy.

Spanning three planets, the Exverse ecosystem offers gamers an immersive experience and advanced gameplay by focusing heavily on competitive and intuitive mechanics, a fluid physics engine, and dynamic visuals. Exverse’s three planets—Social, Quest, and Battle—cater to different playing styles while remaining interconnected within a single timeline, where users compete in cycles known as seasons, lasting eight weeks.

The blockchain game is designed to foster community by allowing players to engage in social events and even develop user-generated worlds within an ever-expanding universe.

Built using Epic’s Unreal Engine 5, Exverse utilizes blockchain technology to strike the balance between enjoyable, realistic, and immersive real-time gameplay. The game prioritizes skill over pay-2-win mechanics, enabling players to earn rewards by staking tokens before a season’s kickoff, with top performers receiving a share of profits from in-game NFTs such as cosmetics and skins.

Ahead of its upcoming alpha launch with a 5,000-player tournament set for March, Exverse has already surpassed 65,000 verified signups. The deathmatch-style tournament occurring on the game’s Battle Planet precedes Exverse’s token launch and gives early wait listers an exclusive chance to test their skills.

“We see ourselves as pioneers in the gaming industry because we’ve built an AAA-quality, classic first-person shooter with Web3 elements,” says Fei Ooi Hoong, CEO of Exverse. “Our hybrid approach is the result of our understanding that for NFT or blockchain games to succeed post-bull market, they need to appeal to gamers in the same way as beloved titles like ‘Call of Duty,’ ‘Halo,’ and ‘Counter-Strike’ have. We decided to focus our efforts first on developing a fun and visually captivating game, and only then strategically working in the token mechanics in a way that rewards skill—all before conducting an IDO.”

“We are excited to be invested in such a promising gaming project like that of Exverse, who gracefully blends the best of Web2 with Web3,” says Sayantan Mitra, partner at Cogitent Ventures. “They boast a strong and visionary leadership along with a talented group of developers, and we are excited to see their project advance over the next several months.”

“It’s been a great pleasure working closely with the Exverse team during their incubation period with us,” says Esport Manager at Seedify. “They had a great vision, talented leadership, and an impressive team of developers that allowed them to get the most out of our incubator. Seedify continues working closely with Exverse to prepare the team for their testnet launch as well as providing a wide array of support, guidance, and infrastructure.”

UAE virtual asset regulator to regulate tokenization, TradeFi and DeFi in 2024

UAE virtual asset regulator to regulate tokenization, TradeFi and DeFi in 2024

Dubai’s virtual asset regulator (VARA) has not only entered the social media scene but has announced its plans for 2024 which will include enhancements to its regulatory infrastructure with introduction of real world use cases for tokenized fractionalized market participation using Blockchain as well as TradeFi, DeFi regulations while it has phased out its MVP licensing program.

As per Mathew White, CEO of Dubai’s VARA, “The industry can expect to see enhancements to the regulatory infrastructure for trading, devising innovative market structures for seamless transactions, and activating real-world use cases for secure, tokenized and fractionalized market participation using trustless blockchain networks.”

Dubai’s virtual asset regulator also discussed its achievements in 2023. VARA, announced that in 2023 it awarded 19 regulated VASP licenses, of which 11 are already operational. In addition 72 initial approvals have been issued to new entrants and have commenced licensing process.

The regulator also stated that it had issued 133 application acknowledgement notices which is a reflection of its proactive and responsive approach.

A total of 116 Proprietary Trading NOCs have been issued, with an additional 37 assessed and ready to be issued while 94 non-VA activity confirmation notices were also issued.

Matthew White, CEO of VARA, commented: “As we open 2024, VARA is poised to accelerate its comprehensive focus on bolstering the infrastructure, broadening the spread and deepening the resilience of our VA ecosystem. Our commitment remains ensuring a secure and innovative environment for service providers and consumers alike. To this end, the industry can expect to see enhancements to the regulatory infrastructure for trading, devising innovative market structures for seamless transactions, and activating real-world use cases for secure, tokenized and fractionalized market participation using trustless blockchain networks.

He adds, “This endeavor involves close collaboration with market participants, particularly the mix of TradFi and native crypto with regulatory peers, underpinned by best practice protocols including those prescribed by FATF. Our goalpost remains unchanged; we started this journey 22 months ago and in this short space of time have built a strong foundation that we are in a position to accelerate from. 2024 will be the year to further Dubai’s position as the global leader in the new economy underpinned by a regulated VA ecosystem, contributing substantially to the GDP.”

When it comes to decentralized Finance, White in the press release, states, “As the lines between traditional finance and decentralized finance blur, VARA recognizes the importance of progressive technology and the need to fast-track maturity in investor and consumer protection, along with managing cross-border risks. We continue to foster awareness, education, and a collective recognition of our evolving digital landscape, leveraging marketing as a vehicle to enhance the impact of our policy-making and regulatory efforts.”

In addition the virtual asset regulator also notes that its Minimum Viable Product [MVP] Licensing program is being phased out as it has served the purpose for which it was initiated in a period where the full market regulations had not been formally launched.

All this will be done in alignment with international regulatory standards, especially FATF. VARA will collaborate with traditional finance regulators, such as the Central Bank of UAE (CBUAE) and the Emirates Securities and Commodities Authority (SCA), syncing efforts for FATF-compliant security in cross-border asset flows.

DIFC prepares digital asset inheritance plans for family offices and HNWIs

DIFC prepares digital asset inheritance plans for family offices and HNWIs

In an interesting move towards including digital assets into the wealth management value chain, DIFC Innovation Hub, global Swiss wealth management Julius Baer and Euroclear a financial infrastructure market firm, have come together to explore how family offices and HNWI ( High Net Worth Individuals) can best use technology to expand their digital asset portfolios as well as apply multi generation inheritance.

As per a press release, DIFC’s Innovation Hub experts will work closely with Julius Baer’s global innovation team and Euroclear’s innovation Centre of excellence for a three-month sprint that will result in a white paper detailing a future-oriented solution for succession planning relating tokenization applied to multi-generational inheritance. The analysis and subsequent findings will serve as a blueprint for other geographies looking to turn similar challenges into opportunities. 

It is estimated that AED 3.67trn (USD 1trn) in assets will be transferred to the next generation in the Middle East over the coming decade. However, only 24 per cent of High-Net-Worth Individuals have a full estate plan in place. Fast adoption of various digital asset classes by individuals and businesses also poses potential complexities to a seamless execution of estate plans currently in place. The DIFC Innovation Hub, Julius Baer and Euroclear collaboration will help bring tangible solutions to this global challenge.

Mohammad Alblooshi, Chief Executive Officer, DIFC Innovation Hub, commented, “The region is witnessing a trend of generational wealth being deployed across a variety of digital asset classes to diversify and future-proof their portfolios. By bringing together global leading entities across wealth management, financial services providers, tech disruptors and regulators, this newly launched innovation project will help transform one of the largest, underserved markets in the region and open doors to a more inclusive and tech enabled future for family businesses and the wealth management industry.”

Alireza Valizadeh, CEO, Julius Baer (Middle East) Ltd, added, “Generational wealth transfer is gaining momentum in the UAE, and we, as Julius Baer, are in a unique position to advise our clients having had our origins as a family business. On the occasion of Julius Baer’s 20-year anniversary in Dubai, I am hoping that this innovation project will showcase how we can work together to stay relevant to our future clients and provide a vision highlighting the evolution of the private banking industry especially with the onset of digital assets.”

Philippe Laurensy, Head of Group Strategy, Product Management and Innovation at Euroclear, noted, “As a trusted financial market infrastructure we have a strong commitment to collaborate with the market providing innovative solutions to our clients. We are extremely pleased to be working with DIFC Innovation Hub and Julius Baer on what we see as a transformative journey to address market gaps and create efficiencies by harnessing the power of tokenization. By validating and unlocking the benefits of smart contracts we have the potential to redefine the narrative of wealth management, creating solutions that could span generations.”

The DIFC Innovation Hub has been attracting as well more and more Blockchain, digital assets, Web3 companies from around the globe and locally.

UAE InvoiceMate tokenizes real world asset on XDC blockchain

UAE InvoiceMate tokenizes real world asset on XDC blockchain

UAE based InvoiceMate, a blockchain enabled invoice financing platform, has tokenized a real world asset, an invoice, using the XDC blockchain in its recent pilot. The project used TradeFinex’S open source smart contract standards.

InvoiceMate showcased the potential of obtaining liquidity by tokenizing a Real World Asset (RWA). Acting as the loan originator, InvoiceMate secured funds for client H & H International LLC through the tokenization of essential documentation including the invoice. This streamlined process resulted in a cash flow of $FXD 100,000 (FXD) for a 60-day period. $FXD is a fully decentralized stablecoin soft pegged to US Dollars and over collateralized with the $XDC token using the Fathom Protocol and primarily focused on for RWA DeFi use cases. The success underscores blockchain-powered financing’s efficiency and innovation in traditional finance.

This pilot transaction is an important milestone in the partnership between TradeFinex and InvoiceMate.

Said Muhammad Salman Anjum, CEO of InvoiceMate, “This successful transaction represents the first step in our collaboration with TradeFinex using XDC Network. We are actively exploring the XDC Network as the blockchain protocol for future pilots within our invoice financing platform.”

“Deploying smart contracts powered by the XDC protocol allows us to address the MSMEs funding gap in trade finance. We look forward to scaling up Private Credit deal flow with like-minded partners and establishing standards within the RWA space using Powerful Smart contract Standards created by Tradefinex.” commented Chen Shanlong, Marketing and Partnerships Lead of XDC Network and TradeFinex.

Mahesh Kumar, CEO of Eclipton added, “Eclipton’s core value is to bring more use cases to the blockchain and crypto industry, offering access to a wide range of financial instruments, including stocks, crypto, bank accounts, and cards, all in one place. The collaboration with XDC and InvoiceMate further strengthens Eclipton’s commitment to expanding blockchain applications and fostering financial inclusion through innovative solutions.”

In November 2023, Muhammad Bin Rashid Innovation Fund (MBRIF) selected Blockchain powered working capital financing solutions startup, InvoiceMate to be part of its accelerator program.