Search Site

Trends banner

TomTom cuts 300 jobs

The firm said it was realigning its organization as it embraces AI.

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.

Equinor signs $27 bn gas deal

The 10-year contract was signed with Centrica.

ADNOC Drilling secures $1.15bn contract

The contract for two jack-up rigs begins in the second quarter.

MENA’s first NFT marketplace NIFTY Souq secures $1.5m investment 

NIFTY Souq co-founder Talal Afghani.
  •  Confirmed investors include Palm Ventures, Falak Investment Hub and Fitzy Fund alongside angel investors from the UAE, KSA and the US.
  • The seed-fund investment will be used on tech updates and the platform's expansion, says Talal Afghani, NIFTY Souq’s Co-founder.

The UAE-based NIFTY Souq, the MENA region’s first NFT marketplace which launched in 2021, has announced they’ve secured $1.5 million in seed investment.

 Confirmed investors include Palm Ventures, Falak Investment Hub and Fitzy Fund alongside angel investors from the UAE, KSA and the US.

The seed-fund investment will be used on tech updates and the platform’s expansion, says Talal Afghani, NIFTY Souq’s Co-founder.

In a statement, Afghani said. “We are thrilled with this investment which enables NIFTY Souq to further enhance and improve what is already the MENA region’s leading NFT Marketplace. This fund is a vote of confidence from our investors in our vision and gives us the resources to deliver on our roadmap.”

In 2021 the global NFT market was valued at $15.7 billion and is expected to reach $122.43 billion by 2028, with a CAGR of 34.10 percent.

NIFTY Souq uses the Ethereum and Polygon blockchains and smart contracts as their underlying technology, creating a secure and permanently-stored record on the Internet and blockchain network.