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Mohamed Al Banna, CEO of Lead Ventures.
Mohamed Al Banna, CEO of Lead Ventures, said the UAE has developed into a gateway to global business and technology hubs for generations to come, which is evident every morning when you see new policies and reforms being rolled out to lay a solid foundation for future generations. .
Dubai-based Al Banna, in his thirties, is bullish on the emerging Web 3.0 trend, which forced him to venture into Cryptoarabs.art.
“My main goal in investing in Cryptoarabs.art is to educate the Arab world and expose them to Crypto Arabs. Lead
Ventures, which I founded, has an extensive global network and my goal is to enable Cryptoarab holders to access this network in Dubai and the world,” said Al Banna.
In addition to Ralf Glabischnig, founder of Crypto Oasis, Adi K Mishra, co-founder of Crypto Arabs and founder of Karma Innovations, funded the project and was instrumental in bringing fundamental utility to the project. Thanks to the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, Al Banna is very optimistic that the country and Dubai in particular are “the future of the future”. The UAE has witnessed the widespread launch of cryptocurrencies, non-fungible tokens (NFTs) and Metaverse.
NFT
Despite the apparent surge in the popularity of non-fungible tokens (NFTs) last year, new research from blockchain data platform Chainalysis shows that while activity is stabilizing, spending is expected to hit an all-time high in 2022. The report found that collectors sent more than $37 billion to the NFT market in 2022 as of May 1, putting them on track to surpass the $40 billion total sent in 2021.
As the popularity of NFTs continues to grow, so does the number of active NFT buyers and sellers. In Q1 2022, there were 950,000 unique addresses buying and selling NFTs, up from 627,000 in Q4 2021. Overall, the number of active NFT buyers and sellers has increased every quarter since Q2 2020. As of May 1, Q2 2022, 491,000 addresses have transacted With NFTs, the NFT market will continue its trend of quarterly growth in the number of participants.
The report goes on to analyze the monthly internet traffic share of the NFT market by geography, showing that while some regions are more active than others, no one region has accounted for more than 40% of all web traffic since the beginning of the year. 2021 shows that, like cryptocurrencies in general, NFTs already have a global audience.
In the Middle East, web traffic to the NFT market surged in mid-2021 and stabilized since then, accounting for about 5% of total global traffic. “Dubai NFTs are a natural progression towards a vision for the future. NFTs are off to a good start, but there is still some way to go in terms of the right product-market fit. We envision Crypto Arabs working with Shaabiat Al Cartoon to be the right direction A step forward,” said Al Banna.
“It is important for NFTs to have basic utility to maintain primary, secondary and tertiary value in the market. Our NFT project, Crypto Arabs, educates community members about cryptocurrencies through their “Learn to Earn” program in the virtual world , Web 3.0, and Non-Fungible Tokens (NFTs), thereby revolutionizing the way the world does business.”
Sheikh Humaid bin Khalid Al Qasimi of Jordan and Princess Nejla bint Asem of Jordan became the first members of the Crypto Arabs community. The Royal Highnesses received artwork based on the final collection, which will be distributed in mint form in the near future.
“It is an honor to be a part of this highly regarded project in the education sector. It is important for people in the region to be educated and integrated into the future of finance. Crypto Arabs has a strong network of leaders in the Web 3 space. They will The knowledge passed on to the community is priceless,” said Sheikh Humaid bin Khalid Al Qasimi.
Crypto Arabs is a collection of 9,999 unique NFT artworks designed in collaboration with beloved Arabian cartoon creator Shaabiat Al Cartoon, which airs its 16th season in Ramadan 2022. For the first time in history, Arabic TV cartoons have been turned into NFT collections featuring 10 of the most popular characters. One of the most popular cartoon series in the Bay Area, this cartoon creation touches on current social and cultural issues, making it a perfect fit for today’s NFT community.
Individuals can become a part of the Crypto Arabs community by purchasing NFTs, which will not only provide them with collectible artwork recorded on the blockchain as unique NFTs, but also gain access to artefacts built around their 3 main pillars (education). A range of benefits, entertainment and charities.
Mohamed Al Banna, whose main vision for the project is to educate the community about cryptocurrencies and NFTs, said: “Web 3.0 is a new era and, as you can see, it can be tricky to navigate. So we’re bringing some of the brightest minds in the crypto world. to educate our community about blockchain and Web 3.0. The Crypto Arabs community is your gateway to exclusive real-world networking opportunities and enhanced business relationships.”
Members will benefit from monthly masterclasses and Q&As in the oasis established in the “Sandbox Metaverse” featuring leaders in the crypto community including Dr. Marwan al Zarouni, CEO of the Dubai Blockchain Center (DBC) and Saeed Al Darmaki, Founder and CEO of Sheesha Finance. These advisors will guide members on how to navigate the worlds of crypto, staking, Gamefi, NFT and DEFI. After each masterclass community member completes, they will be rewarded with partner tokens.
“Through the partnership with Crypto Oasis, this NFT collection will allow buyers to become part of an exclusive community where they will be awarded
Access key opinion leaders and events in the blockchain/NFT space. One of the key elements of the project is donating a portion of the proceeds from the sale of the collectibles to charity. Crypto Oasis and Crypto Arabs are committed to giving back to the community and making a difference,” said Ralf Glabischnig.
A portion of the proceeds from the collection will also be donated to the Rashid Center for People of Determination, reflecting the true spirit of Crypto Arabs. Adi K Mishra said: “Giving back to the community is an important part of our DNA. We have made significant investments through some of our other projects to support the local community. Our investment in Crypto Arabs is towards our belief in the UAE and the GCC Another step forward as the premier Web 3.0 destination of the future.” — sandhya@khaleejtimes.com
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