UAE’s DAMAC Properties Promises Metaverse and NFT Innovation

The UAE’s real estate champion — DAMAC Properties is dabbling in NFTs.
DAMAC’s Managing Director says a metaverse project will arrive in March.
He is a firm believer in both technologies and aims to reach a new horizon with DAMAC.

The power and potential of NFTs continue to astound the crypto industry and the whole world in general. Presently, the UAE’s property developer — DAMAC, announces its plan to launch a Metaverse project in March. A post on Twitter highlights the exciting announcement.

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In detail, the firm’s Managing Director — Ali Sajwani, says the project is slated to begin soon. Specifically, when the project launches, it will be a first for the London Stock Exchange-listed property developer.

In particular, the real estate property developers are very eager to make their reveal. To highlight, Sajwani says the firm is planning a foray into the metaverse. In fact, this development came just a few weeks after he ran an online poll which said real estate will be the first sector to adopt NFTs.

More so, Sajwani is already a massive NFT believer. Indeed, the Managing Director of DAMAC reveals his ownership of a plot in the Sandbox metaverse. No doubt, DAMAC is setting itself as an innovative leader with its current interest in NFTs and the metaverse.

To quote, Sajwani mentions a snippet on why DAMAC is taking this step into 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.

Accordingly, Sajwani says DAMAC already has a solution set in place to integrate the company’s many platforms. This includes real estate, jewelry, fashion, and more. Certainly, it seems that DAMAC will have something exciting to reveal very soon.