UAE property developer DAMAC to launch Metaverse project in March

He also acquired 10% of CryptoBear Watch Club (CBWC) tokens and became an active supporter and advisor of this project

02.03.2022 - 12:05

333

1 min

What’s new? One of the leading real estate developers in the United Arab Emirates (UAE), DAMAC Properties, plans to launch a project in the metaverse soon. According to Ali Sajwani, managing director of real estate developer DAMAC Properties, this will happen in March.

Information on the Unlock Media website

What does Sajwani say? He conducted an online survey, which showed that real estate is likely to be the first sector to use NFTs. Sajwani himself has acquired a plot in The Sandbox metaverse. He added:

“At DAMAC we are looking into different ways to include NFTs and the metaverse. So, while most use the term metaverse loosely we think it is much more and we have come up with a solution where we bridge the physical and digital assets to allow for cross-utilization.”

What is Sajwani’s attitude to NFTs? Apart from DAMAC’s participation in the Metaverse, he has also acquired 10% of CryptoBear Watch Club (CBWC) tokens and has become an active supporter and advisor of this project. Sajwani stated:

“I am a real estate developer running one the largest real estate property developers in the world yet when I saw Crypto Bear Watch Club art, I was intrigued so I started to work with them to add utility to the NFTs and help build the roadmap.”

Author: