September 30, 2022

Last Hopium NFT Project Brings Dubai A Step Closer to Becoming World’s Blockchain Capital

3 min read

The United Arab Emirates (UAE) is becoming one of the world’s most crypto-friendly regimes as it launches programs to assist regional crypto development and policy.

Even the Dubai World Trade Center (DWTC), a government-owned event and exposition website in Dubai, has declared that it would become a total zone and regulator of cryptocurrencies, operators, and exchanges.

Another project based out of Dubai, Last Hopium, is an NFT drop aimed to utilize blockchain innovation to bridge digital possession holder, to big hotels like Ritz, Hilton and Waldorf.

The plan is to keep up with Dubai’s continuous efforts to help crypto advancement. Both Dubai and the UAE try to benefit the local economy from blockchain technology, non-fungible tokens (NFTs), and cryptocurrencies.

This plan to embrace blockchain and crypto is not simply limited to improving federal government services. With over 100 million worldwide blockchain wallets containing over $400 billion in liquid properties, the UAE has long attempted to entice blockchain and crypto into its economy.

Binance Joining Hands with Dubai World Trade Center

Binance, the world’s biggest cryptocurrency trading platform, is amongst the first crypto exchanges to sign up with the Dubai World Trade Center Authority’s new crypto center (DWTCA).

The company has openly stated that it has signed a memorandum of comprehending with the DWTCA for the opening of an entire crypto zone in Dubai.

The crypto giant is set to help the DWTCA in explaining the goal of speeding up the establishment of a new commercial hub for worldwide virtual assets as part of its involvement in the effort. Its objective is to add to Dubai’s objective to produce a new global digital asset ecosystem to enable long-lasting financial growth through digital innovation.

Ultimately, Binance believes that joining hands with Dubai would benefit the international economy. With its high level of proficiency working with international authorities to assist develop virtual property policy, it aims to make UAE the crypto and blockchain paradise.

NFT Adoption Rising in the UAE

NFTs have taken the world by storm, and the pattern has now broadened into the UAE. According to a research study performed by Finder.com, the percentage of persons in the United Arab Emirates who hold non-fungible tokens (NFT) is more than double the international average. Furthermore, thousands of dollars are being put into developing NFTs to bring extensive approval.

Additionally, Dubai Culture exists its inaugural NFT art program, which will include 50 special pieces by famous UAE artists. The authority has partnered with Morrow Collective, an NFT curatorial platform, to stage a concrete exhibition of the art work at Al Safa Art and Design Library. The program, titled 50/50 (to celebrate the UAE’s 50th anniversary), will include the works by popular artists like Khalid Al Banna, Alia Al Gaoud, Dalal Ahmed, Marwan Shakarchi, and Gigi Gorlova.

Beyond that, a new task based out of the UAE called the “Last Hopium.” It will be an unique collection of 10,000 NFTs with real-world applications and features concentrated on rewarding the holders of the NFTs.

lasthopium

The owners of these Last Hopium NFTs will get unique deals and discounts on 5-star hotels worldwide. The advantages of NFTs are obvious, and the entry of large hotel name brands like the Ritz, Hilton, and Waldorf into the NFT landscape speaks a great deal about the strengthening crypto ecosystem in the UAE, which will send ripples throughout the rest of the world.

Leading the Way for Innovations

The UAE has set the standard for other countries regarding blockchain and crypto adoption and availability. Similarly, the desire to keep the UAE at the leading edge of global digital modification seems higher than ever. With federal government support, easy access to capital, and a population prepared to adapt to alter, the building and construction of numerous blockchain communities in the UAE has ended up being increasingly possible in the next few years.

The UAE is leading the way for other countries with its adoption of blockchain and crypto and this environment would prove to be favorable for ground-breaking digital development, which is only anticipated to grow in strength. As an outcome, it would be clear why the UAE will continue to lead the international race for favorable digital interruption.