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South Korean gaming giant Neowiz Holdings has announced its ambitions to create a blockchain A business in the United Arab Emirates, South Korean news site Newsis reported. Through this endeavor, they aim to expand their services internationally.
Additionally, Neowiz Holdings CEO Oh Seung-Heon will travel to Abu Dhabi as part of a Korea-UAE economic delegation to explore potential collaborations with government agencies and businesses within the blockchain industry.
To further expand their global business, Neowiz Holdings and NEOPIN (a blockchain open platform developed by its subsidiary Neofly) are now actively looking for potential partners in the UAE.
Neofly CEO Oh Seung-Heon has been committed to entering the international market with the Middle East as the gateway. The report suggests that this effort helps kick-start today’s economic mission and, hopefully, build successful partnerships.
Neofly proudly released its own digital asset, Neopin (NPT), which can be traded on domestic and foreign exchanges, connecting games, metaverses, services, non-fungible tokens (NFTs) and other decentralized finance (decentralized finance)product. This ever-expanding ecosystem offers limitless opportunities to users around the world.
Additionally, Neofly recently established a subsidiary in Abu Dhabi, UAE to capitalize on the global blockchain industry. An official of the company said that they “have been looking forward to entering the international blockchain market with an eye towards operating from a base in the United Arab Emirates.” Meanwhile, consultations with relevant organizations in the region are underway. Expect to see tangible results soon.
Last July, UAE declaration An ambitious shift from an oil-based economy to a knowledge-based economy. To achieve this, they launched Metaverse as their national priority and invested heavily in it last September – such as opening and managing the headquarters of their Ministry of Economy.
Metaverse industries are closely related to blockchain technology. The Middle East region is committed to creating a digital innovation sector by supporting a “blockchain-friendly” environment.
Abu Dhabi, the capital of the United Arab Emirates, has stepped up to revitalize blockchain technology globally. With the introduction of digital asset regulations in 2018, the Abu Dhabi market has now become a hotspot for global IT companies looking to expand their presence in the Middle East. The move has been met with unanimous approval from investors and business owners, all eager to take advantage of this emerging opportunity.
A leading expert in the field has declared that the Middle East region is an emerging focus for global IT companies — second only to Singapore — due to its potential for virtual assets and blockchain technology. No wonder it arouses so much curiosity!
In recent years, numerous leading virtual asset exchanges and companies such as Binance and Crypto.com, which has entered the UAE. Blockchain game developer WeMade also recently announced that it has established a blockchain company in Abu Dhabi, which shows how much these companies attach importance to entering this market.
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