Dubai Blockchain Startup Market 2023
Dubai can safely be called the web3 capital of the Middle East.
It is also the second overall in the world’s biggest crypto hubs, according to a report by Recap.
We look at the reasons for this, and highlight some interesting fresh blockchain startups in the UAE’s largest city market.
Why is Dubai so web3?
There are some reasons for Dubai to become the most crypto-ready city in the Middle East region and, broader, in the world.
One of them is the UAE’s government progressive IT legislation and regulation of cryptocurrencies and blockchain technology, as well as its digital infrastructure.
For example, the UAE government developed Blockchain Strategy. It aims to capitalize on the blockchain technology to transform 50 per cent of government transactions into the blockchain platform by 2021.
Although this goal has not yet been achieved, the document was a major step in the adoption of blockchain at the governmental level.
Dubai is the center of economic life in the UAE, a major logistics and innovation hub with strong support of web3 startups. Therefore, it is not surprising that the blockchain industry is booming here.
It is home to 772 crypto-based companies and presents incredible business opportunities through an inviting business environment that attracts foreign investors to the area.
Let’s explore some of the interesting Dubai web3 startups in 2023.
Blockchain Startups in Dubai 2023
Area: GameFi
Agora is an all-in-one ecosystem for GameFi, allowing users of any web2 or web3 game to have user-friendly in-game access to GameFi.
Agora aims to bring together guilds, gamers and DeFi investors, allowing them all to participate in the most disruptive blockchain sector in a seamless and efficient way.
Area: Decentralized Digital Asset Exchange
LedgerFi aims to build the world’s first decentralized digital asset exchange, while also leading the way in web 3.0 communication protocols, enabling users to experience true digital transformation through a unified ecosystem of LedgerFi.
LedgerFi provides secure communication through email, chat and payment applications with a Web 3.0 communication service built on blockchain technology.
Area: DeFi Platform
Quint provides DeFi solutions to customers. It has a staking platform, NFT Marketplace and Swap.
Its goal is the mainstream adoption of DeFi protocols and cryptocurrencies. The Quint ecosystem is a rapidly evolving testbed for real-world utilities, perks, rewards and use cases for $Quint holders.
Area: Blockchain ecosystem
Nordek Blockchain (NRK) is a Dpos blockchain specifically designed for solutions, with a focus on payment, gaming and metaverse modules.
While it uses Solidity for a Turing complete development environment, its main focus is on providing easy-to-use features for fintech, gaming and metaverse projects.
Area: Blockchain Wallet
Salera is a wallet for storing cryptocurrencies and other digital assets. It is a one-stop shop for all crypto needs, with features and functionalities such as Launchpad and DeFi.
Launchpad lets users start their own project and participate in initial coin offerings. Users can also manage their NFTs with their portfolio on Salera.
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