DUBAI—Web3 launchpad and advisory company Enjinstarter MENA announced today that it has been granted initial approval by Dubai’s Virtual Assets Regulatory Authority (VARA), while it undertakes the in-depth process of applying for a licence, in accordance with VARA requirements.With the Middle East and North Africa considered to be a booming Web3 market, Enjinstarter is seeking a foothold in the region as it aims to be the premier launchpad and incubator for Web3 metaverse, gaming, and entertainment experiences. Along with operating out of Dubai, the metaverse capital of the world, Enjinstarter has ambitious plans to be the go-to provider for Web3 adoption in the region, including the addition of more portfolio projects focusing on impact and sustainability initiatives that complement the UAE’s commitment to climate action.“This is an important step for Enjinstarter. Getting initial approval and continuing with our licence application makes clear our commitment to achieving the highest standards of accountability and transparency in the Web3 space. We are committed to  conforming to VARA’s high standards and know this will only accelerate our growth in the Middle East and beyond,” said Prakash Somosundram, co-founder and CEO of Enjinstarter.VARA, established in March 2022 under the Dubai Virtual Asset Regulation Law, is the first regulator of its kind to oversee virtual assets and aims to create an advanced legal framework to protect investors and set international standards for the virtual assets industry, and to enable responsible business growth in and from the Emirate.“Dubai has been laser-focused on establishing itself as a global hub for Web3. It continues to provide much-needed leadership in terms of regulation and innovation, especially with initiatives such as VARA’s own foray into The Sandbox. We are looking forward to getting started here and contributing to Dubai’s growing Web3 ecosystem,” added Vasseh Ahmed,Enjinstarter MENA’s managing director.Since inception in Dubai three months ago, Enjinstarter MENA has signed key partnerships with MENA-focused blockchain ecosystems, Crypto Oasis and Masary Capital, hosted a sustainability and climate impact roundtable with streaming platform myco, and appointed Vasseh as its managing director.

Dubai: In a remarkable display of collaborative success, myco (previously known as MContent), the innovative web3 video streaming platform, and Xapads, the leading advertising technology company won big at Digixx 2023 Awards. Their joint campaign won gold awards in both the Insight & Research and Mobile & Apps Marketing categories, showcasing the exceptional creativity, innovation, and impact that resulted from their partnership.myco and Xapads embarked on a mission to position myco as a cutting-edge app for web3 video streaming and to give content creators the power to earn from their creations. By leveraging strategic in-app placements through Xapads, the campaign soared, achieving heightened brand awareness, expanded reach, improved user retention rates, and higher quality user acquisitions for myco.  Tariq Jaser, Head of Marketing at myco, commented on the victory, saying, "We are incredibly proud of our collaboration with Xapads and the success we've achieved together at the Digixx 2023 Awards. This recognition reflects our commitment to innovation, creativity, and the potential of web3 technology to transform the video streaming landscape”.With this seamless collaboration and effective planning and execution, the campaign successfully reached over 2.8 million users and boosted the signup rate by an impressive 33%.Expressing his excitement, Gagan Uppal, Country Head-MENA, said “Our excitement is boundless upon receiving these awards, and we extend our gratitude to the Digixx 2023 Awards for acknowledging our dedication and efforts. Our collaboration with MyCo has played a crucial role in this success, and we recognize their invaluable contribution”. 

Dubai:  Singapore and Saudi Arabia-based AI avatar company BuzzAR has announced its partnership with Cypher Capital, a leading venture capital firm in the Middle East, to create disruptive AI+LBS Web3 location-based game projects. The partnership will allow the companies to leverage proprietary generative AI technologies on its Metaport, a portal that turns human faces to avatars in real-time, to create a decentralized social graph. With leading retail holdings, hospitality partners, and tourism government collaborations in Singapore and Saudi Arabia, BuzzAR is poised to reshape the gaming landscape.On the announcement, Founder of BuzzAR, Bell Beh, commented: "We are delighted to be partnering with Cypher Capital to propel BuzzAR’s LBS Metaverse project, Project ‘DSpace’. Our goal is to provide an integrated Metaverse solution tailored to the unique needs and aspirations of these countries, and we believe that our collaboration with Cypher Capital is the perfect opportunity to do so."She added, “In support of Saudi Arabia's national tourism strategy and other regional strategic plans, Project DSpace will provide an immersive and culturally diverse Metaverse solution that is expected to bring merchants and users together in a revolutionary new way.”Bill Qian, Chairman of Cypher Capital Group: the lead investor on ‘DSpace’ said: “We are thrilled to support this ground-breaking joint initiative by BuzzAR and some of our gaming portfolios. As the lead investor in this project, we believe that 'DSpace' has the potential to revolutionize the gaming industry and pave the way for new opportunities in the AI+LBS Web3 Metaverse. I am more confident than ever before that our commitment to creating an immersive and culturally diverse Metaverse will not only bolster tourism and economic growth in the Middle East but also foster global connectivity and collaboration. We stand at the forefront of this exciting new era, and I eagerly anticipate the transformative impact Dspace will have on our world."

Abu Dhabi : Digital assets infrastructure company Zero Two has launched operations in Abu Dhabi to cater to the rapidly increasing interest in Web3 technology and its ecosystem. With a unique, fully integrated offering in end-to-end digital assets infrastructure solutions, Zero Two aims to become a trusted partner to companies seeking to capitalise on the broad innovative scope and transformative potential the technology offers. The company’s services include developing power infrastructure, sourcing and testing latest generation technologies, building and operating data centres, and providing digital assets management services.Zero Two was created to develop, operate and invest in best-in-class technologies accelerating and supporting the digital asset and Web3 ecosystem in the region, which comprises concepts such as decentralisation and token-based economics.Zero Two will play an integral role in facilitating the continued stability of the power grid of Abu Dhabi while contributing towards the UAE’s Net Zero commitments and transition towards a sustainable, decarbonised economy as the nation prepares to host COP28. By utilising excess power in low demand seasons to operate its state-of-the-art data centres located in Abu Dhabi further supporting the resiliency of the local power grid.With an inaugural client roster encompassing energy and utilities sector leaders, Zero Two, which is part of ADQ, purchased the largest order to date of Clean Energy Certificates (CECs), which are rolled out collaboratively by the Department of Energy (DoE) and Emirates Water and Electricity Company (EWEC). By offsetting CO2 emissions, the purchase grants Zero Two to attest the sources of its clean energy usage and empowers them in achieving their sustainability goals.Ahmed Al Hameli, Chief Executive Officer at Zero Two, said: “Digital assets hold vast potential that is only beginning to be explored and leveraged. Zero Two enters the market with a robust and broad business model catering to rapidly emerging demand and a demonstrated commitment to meeting the highest standards of security and compliance. We are confident that our offering that utilizes excess power from the local power grid, which is the first of its kind in the UAE and the wider region, will not only meet the needs of our clients but also exceed their expectations with regards to the various benefits that can be derived from deploying distributed ledger technologies.”Zero Two name comprises of two notions, the significance numerals 0 and 2 in Web3 technology.

Abu Dhabi – Zero Two, Abu Dhabi’s leading digital assets infrastructure company, has launched its operations to cater to the rapidly increasing interest in Web3 technology and its ecosystem. With a unique, fully integrated offering in end-to-end digital assets infrastructure solutions, Zero Two aims to become a trusted partner to companies seeking to capitalize on the broad innovative scope and transformative potential the technology offers. The company’s services range from developing power infrastructure to sourcing and testing latest generation technologies, to building and operating data centres, and providing digital assets management services.As the digital economy continues to mature, digital assets have the potential to increase visibility, transparency, coordination, and information sharing across company boundaries through various applications, thus promising to address structural challenges and enhance operational efficiency. Zero Two was created to develop, operate and invest in best-in-class technologies accelerating and supporting the digital asset and Web3 ecosystem in the region, which comprises concepts such as decentralization and token-based economics.Zero Two is set to play an integral role in facilitating the continued stability of the power grid of Abu Dhabi while contributing towards the UAE’s Net Zero commitments and transition towards a sustainable and decarbonized economy. By utilising excess power in low demand seasons to operate its state-of-the-art data centres located in Abu Dhabi further supporting the resiliency of the local power grid.Commenting on the start of the company’s operations, Ahmed Al Hameli, Chief Executive Officer at Zero Two, said: “Digital assets hold vast potential that is only beginning to be explored and leveraged. Zero Two enters the market with a robust and broad business model catering to rapidly emerging demand and a demonstrated commitment to meeting the highest standards of security and compliance. We are confident that our offering that utilizes excess power from the local power grid, which is the first of its kind in the UAE and the wider region, will not only meet the needs of our clients but also exceed their expectations with regards to the various benefits that can be derived from deploying distributed ledger technologies.”