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Emirati blockchain platform creates 4400 unique NFTs depicting Arab characters with diverse traits
27 Dec, 2021 / 07:28 AM / OMNES Media LLC

Source: https://me.mashable.com/

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The collectible digital tokens are meant to embody regional culture and beliefs.

Among Middle Eastern economies, the UAE has been the quickest to embrace the rise of crypto following the blockchain boom thanks to its digital infrastructure and willingness to facilitate online transactions, which has even prompted organisations like a licensing authority in Dubai to accept payments in Bitcoins. Apart from cryptocurrencies, different assets including artworks, real estate and collectibles are also being registered on the blockchain, so that they can be traded online in the form of digital tokens.

Emirati entities have been placing bids worth millions for NFTs that let them own memes and viral videos, while digital galleries set up in the UAE are selling Islamic art as well as diamond collectibles to a wider consumer-base beyond borders in the virtual realm. Among these a new player called Abu Crypto has unveiled a massive pile of 4400 non-fungible tokens, which represent a set of Arab characters with their unique traits, that describe Middle East's culture and beliefs in the digital form.

Aiming to make crypto tokens mainstream in the region for facilitating online cashflow, the firm also offers 40 rare tokens, which are labelled a royal level NFTs and offer the rights to limited edition assets. These virtual tokens can represent diverse objects, including games, vinyl records or art, in addition to which sand, water, gold, diamonds, oil and royal collectibles can also be registered on the blockchain.

Focused on benefits for the locals in the Emirati capital Abu Dhabi, the organisation also facilitates in-person meetings between collectors and sellers, so that netizens can rest assured that they aren't investing in NFTs that may vanish from the internet without accountability. Abu Crypto also provides a platform that trains people for the process of minting digital tokens, and will eventually host exclusive parties in Dubai for those who hold NFTs being offered by the firm.

Participants will also gain access to opportunities for earning more via games among other perks.