Projects building metaverses and blockchain-based Web3 applications will be able to access various development support programs and initiatives. Also, Web3 project managers will be able to enlist the support of various partners, both public and private.
The main partner of the initiative was the research and innovation center FABRIC from First Abu Dhabi Bank. Digital asset exchanges and service providers for trading and storing cryptocurrencies will also join the initiative.
Hub71+Digital Assets will enable crypto companies to expand their presence in Abu Dhabi, the Middle East and global markets. One of the goals of the program was the development of Web3 startups to the status of “unicorns”, that is, to a capitalization of over $1 billion.
Hub71 Deputy CEO Ahmad Ali Alwan said the new initiative shows Abu Dhabi's willingness to host “disruptive business that drives change and transformation on a global scale.”
Recall that in November last year, the authorities of the emirate licensed the Binance cryptocurrency exchange.