The fund will support early-stage venture investments in areas including DeFi, blockchain, real-world asset tokenisation, gaming and the metaverse
Web3
Latest in Web3
Saudi Arabia
Outlier Ventures announces inaugural Web3 accelerator programme in Saudi Arabia
It selected ten startups focusing on sectors including gaming, real world assets, payment solutions, AI, and digital identity in its first cohort
MENA
Fastex expands MENA presence with ftNFT Phygital Space and Web3 Meetups
The company said the launch of ftNFT phygital space is also aimed at supporting the UAE’s growing position as a global hub for digital assets
Artificial intelligence
Zero Gravity Labs secures $290mn to build world’s first decentralised AI operating system
As the world’s first decentralized AI operating system, dAIOS will operate at the intersection of web3 and artificial intelligence
Artificial intelligence
Metaverse, AI, VR: Did overhype kill Web3?
The future of Web3 lies not in replacing existing systems but in complementing them
crypto
Cointelegraph opens Dubai office at DMCC Crypto Centre
Dubai’s DNCC Crypto Centre welcomes Cointelegraph as new partner
Dubai
Dubai AI, Web3 festival concludes with launch of new initiatives
The two-day gathering attracted over 6,800 delegates from more than 100 countries, including government officials, heads of state, academics, and business leaders
Funding
UAE Web3 streaming platform myco raises $10m in Series A funding
The company’s live streaming division has secured major rights until 2025, including ICC and PSL Cricket Rights for Pakistan, all major cricketing rights for North America via Willow TV, and rights for the World Squash Federation and Egypt Squash Federation
Artificial intelligence
Dubai AI & Web3 Festival inks 6 partnerships with top global firms
The festival is slated to be held on September 11-12
Blockchain
US-based droppGroup teams up with Solana Superteam to drive web3 adoption in Saudi Arabia
This collaboration leverages dropp’s expertise in Web3 and AI solutions alongside Solana’s advanced blockchain platform, setting the stage for transformative growth and innovation across the region
blockchain technology
Dubai set to dominate global sports industry’s Web3 transition as football legends, major clubs back blockchain tech, NFTs
The Atleta Network is set to open 20 blockchain-powered football academies worldwide in 2024 following Dubai launch, even as major football legends and clubs like FC Barcelona, Liverpool, and La Liga are reportedly applying blockchain for sports NFTs, ticketing and fan engagement
Gaming
UAE to be global launch pad for groundbreaking new gaming business model – Web3 GaaS
The new gaming model, to be launched by Barcelona-based Games For A Living, is touted as an ethical and sustainable business model, and will also bring in an AI-based revolution in video games, leading to boost benefits to both users and developers
crypto
Phoenix Group expands into Web3 gaming with strategic investment
The partnership signifies a major collaboration between developments in blockchain and gaming
Blockchain
Bitget’s $10mn ‘Blockchain4Her’ project to promote gender diversity in web3
A recent study conducted by Bitget revealed that female-led blockchain startups secured only 6 percent of the total funding
Blockchain
Phoenix Group ventures into Web3 with strategic investment in Lyvely
This strategic partnership signifies a major collaboration between a Web3 leader and a pioneering consumer tech platform
Artificial intelligence
AI, Web3, Generative AI, Metaverse: 2023 was a big year for tech
Navigating the impact of 2023’s technology will be key for 2024 success
Blockchain
Zilliqa Group relaunches its UAE metaverse venture as MetaMinds following business restructure
MetaMinds is in the beta testing phase for several immersive world projects across various sectors