Business

Masar signs $82m land deal

Agreements signed with Abdulmohsin Al Rossais & Sons Group.

Borouge okays $656m dividend

The company said dividend reflects its resilience

DEWA posts record H1 profit

Revenue reaches record $4.04 billion.

Tabreed H1 revenue $308m

Blurb: Profit reaches $52 million in H1

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

UAE’s NFT market witnesses rapid growth

By TRENDS Desk
June 27, 2022 11:05 am
  • Many NFT investors are making Dubai their new home every day because of its zero percent personal income tax regime, amongst other big favourable factors.
  • Several crypto platforms have recently launched dedicated NFT marketplaces. TRENDS tries to find out which sectors have been covered by NFTs in the UAE.

The non-fungible token  (NFT) market in the UAE has been growing rapidly. The sale of NFTs, which play an important part in Web 3.0 and MetaVerse, is up by over 700 percent this year.

Many NFT investors are making Dubai their new home every day because of its zero percent personal income tax regime, amongst other big favourable factors. Several crypto platforms have recently launched dedicated NFT marketplaces.

In March this year, the annual Art Dubai fair saw the debut of ‘Art Dubai Digital’, a real-life marketplace for non-fungible tokens and digital art.

TRENDS tries to find out the sectors covered by NFTs in the UAE.

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