Sign inSubscribe

Search Site

VideosInforgraphics
Sign inSubscribe
Trends banner

Business

BYD Q3 profit down 33%

This was a 33% year-on-year decrease.

Alphabet posts first $100 bn quarter

The growth was powered by cloud division buoyed by AI

Nvidia to take stake in Nokia

Nvidia share price soars 20%.

Nestle to cut 16,000 jobs

The company's shares shoot up 8%.

Multiply Group buys stake in ISEM

Multiply Group will hold 60.8% of ISEM.

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.

[adinserter block="5"]

Most Read

UAE’s working mothers get extended maternity leave

The Gulf country is setting a new benchmark for supporting working mothers by doubling the mandated maternity leave to 120 days, Kathryn Martin VFS Global tell TRENDS.

Getting vaccinated is ‘the most patriotic thing’ to do

The Fourth of July is a sacred day in our country. A day of history, of hope, remembrance and resolve with promise and possibilities. Before me stands monuments of the…

Saudi Arabia to generate $150 billion in investments from its new transport policy

The government would provide thirty-five percent of the investments The rest of it, sixty-five percent, will come from the private sector Saudi Arabia expects to generate $150 billion from investments…

GCC healthcare: Transforming the region and impacting the world

PwC forecasts that AI could contribute US$320 billion to Middle Eastern economies by 2030, with healthcare predicted to see some of the largest gains relative to its current size

New-Age Growth Comes Home to the GCC

The region, fueled by ambition and massive investment, is rapidly advancing in technology and infrastructure, aiming to secure a leading role in the 4IR.

[adinserter block="4"]