UAE Property Developer DAMAC to Launch Metaverse Project in March Says Managing Director

One of the United Arab Emirates (UAE)’s starring existent property spot developers, DAMAC Properties, is readying to motorboat a task successful the metaverse soon, the company’s managing manager (MD) has said.

DAMAC Looking Into NFTs and Metaverse

According to Ali Sajwani, the managing manager of the existent property spot developer DAMAC Properties, his institution is readying to commencement a task successful the metaverse sometime successful March. The project, if launched, volition beryllium a archetypal for the London Stock Exchange-listed spot developer.

Sajwani’s confirmation of the company’s planned foray into the metaverse came a fewer weeks aft an online canvass helium conducted suggested existent property is apt to beryllium the archetypal assemblage to follow non-fungible tokens (NFTs). In addition, the revelation came soon aft Sajwani himself was said to person purchased a crippled successful The Sandbox metaverse.

In remarks pursuing an announcement made during NFT postulation Crypto Bear Watch Club (CBWC)’s inquire maine thing (AMA) session, Sajwani is quoted by Unlock Media explaining the rationale down DAMAC’s decision. He said:

At DAMAC we are looking into antithetic ways to see NFTs and the metaverse. As you cognize DAMAC is not lone a multi-billion dollar spot developer but besides holds brands specified arsenic Roberto Cavalli (purchased successful 2019). So, portion astir usage the word Metaverse loosely we deliberation it is overmuch much and we person travel up with a solution wherever we span the carnal and integer assets to let for cross-utilization.

He added that DAMAC has already created a solution that volition integrate the existent property developer’s antithetic platforms which scope from existent property to manner and jewelry. The objective, according to Sajwani, is to bring these into the metaverse.

Besides driving DAMAC’s metaverse initiative, the Unlock Media study said Sajwani had purchased 10 percent of the CBWC’s token supply. The study said the managing manager had been intrigued by CBWC’s creation and had “started to enactment with them to adhd inferior to the NFTs and assistance physique the roadmap.”

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