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As the metaverse loses its appeal to some global tech leaders, MetaMinds Group CEO Sandra Helou argues that failures in metaverse initiatives resulted from the lack of proper business models.
Saudi Arabia’s forthcoming regional development project, NEOM, has partnered with Animoca Brands to push Web3 in the region and a potential $50 million investment deal.
Ras Al Khaimah, known for its rich cultural sites, is turning to the virtual assets sector to diversify its economy away from traditional avenues such as tourism.
After two years of experiments, JPMorgan and the Bahraini bank will offer U.S. dollar payment settlement in several countries, with plans to expand to euro service as well.
The kingdom is currently diversifying its economy away from oil and turning to new opportunities, such as gaming and Web3.
The U.S. Department of Commerce denied blocking AI chip sales to the Middle East and remained silent about whether the requirements were only imposed on specific countries.
The mining facility comes as part of a plan to accelerate the digitalization of Oman’s economy, which is mainly dependent on oil exports.
M2 platform will launch later in 2023, allowing UAE-based retail and institutional clients to buy, sell and custody virtual assets.
Although the proposed virtual asset regulatory framework in Oman covers FATF-defined assets, the issuance of privacy coins might get banned.
The announcement followed crypto exchange Binance receiving similar permission from the Abu Dhabi regulator in November 2022.