The UAE is looking to get more citizens to experiment with Web3 projects now that Abu Dhabi, Bahrain, and Dubai are emerging as crypto hubs. Women in Abu Dhabi will now be getting an option to pick crypto domain names for free, in order to get them to experiment with the Web3 space. The Abu Dhabi Investment Office (ADIO) has teamed-up with Access Abu Dhabi and have roped in domain provider named Unstoppable Domains to facilitate the execution of this initiative.
“By supporting initiatives that invite and uplift women, we can champion diversity early in the Web3 era,” a report by Waya Media quoted Abdulla Abdul Aziz Al Shamsi, the acting director-general of ADIO as saying.
The announcement of this initiative was made recently when a delegation of ‘Women of Web3‘ visited Abu Dhabi. Formed with female tech entrepreneurs from the US, this group was hosted by Access Abu Dhabi, a Maven Global Access program powered by the ADIO.
“Providing free crypto, NFT, and blockchain domains to all women in Abu Dhabi is a power move that ensures women will be included in increasing numbers within the fabric of the Web3 movement for generations to come,” Sandy Carter, senior vice president of Unstoppable Domains said in a statement.
Interested female entrepreneurs can grab their free Web3 domains by visiting the page of Unstoppable Domains.
In recent months, Dubai’s Virtual Assets Regulatory Authority (VARA) disclosed plans of creating a virtual headquarters in The Sandbox metaverse.
Overall, the crypto culture seems to be on an expansion in parts of the United Arab Emirates (UAE).
In March, UAE Prime Minister Sheikh Mohammed bin Rashid Al Maktoum signed a new law for virtual assets while establishing an independent body to oversee the governance of the crypto space.
Dubai-based real estate developer Damac Properties has also opened payments in the form of cryptocurrencies.
Crypto companies like Binance, Bybit, and Crypto.Com have also begun to set up shop in Dubai.
Authorities in the UAE are also establishing rules for investor protection, anti-money laundering provisions, combating terror financing, ensuring compliance, and allowing cross border deal.