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Nov 9, 2022 15:12
UAE authorities support 1,500 Web3 startup developers
Already, there are over 1,450 active Web3 projects in the United Arab Emirates, employing nearly seven thousand people, according to the Henbbo Foundation.
Conditionally, these Web3 projects can be divided into two categories, blockchain-based and native blockchain-based projects. Native blockchain projects are those based solely on native decentralized technology.
Now there are 950 organizations, or 65%, working on it in the UAE, where 35%, or 500 organizations, fall under the traditional blockchain-based project category. Our experts note that the Dubai Multi Commodity Center (DMCC) has registered over 460 local companies, representing more than 50% of all in-house blockchain development organizations in Dubai.
The UAE Ministry of Economy recently announced that it was opening an office in the metaverse. The government's strategy implies the creation of over 40 thousand virtual jobs by 2030.
Such trends allow Henbbo Foundation to make far-reaching plans for the company's development in this region and beyond.
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