• Hub71, Abu Dhabi’s technology ecosystem, has launched a new initiative called Hub71+ Digital Assets.
• The $2 billion fund will provide Web3 and blockchain startups in the region with access to programs and potential partners.
• This initiative aims to accelerate the growth of the Web3 industry in the Middle East and promote startup growth globally.
Abu Dhabi’s Hub71 Launches Initiative to Fund Web3 Startups
Hub71, Abu Dhabi’s tech ecosystem, has launched a new initiative called Hub71+ Digital Assets. The initiative is aimed at accelerating the growth of the Web3 and blockchain technology industry in the region by providing start-ups access to programs and potential partners. The fund of over $2 billion will be used to finance startups and support businesses relocating to Abu Dhabi.
Partnerships With Corporate & Government Bodies
The Hub71+ Digital Assets ecosystem includes several corporate, government, and investment partners that will help startups succeed in the industry. The anchor partner for this initiative is FABRIC – the research and development hub of First Abu Dhabi Bank. Additionally, other partners such as crypto exchanges and service providers are also involved in order to make it easier for businesses to discover, trade, and manage digital assets.
Impact on Growth & Development of Web3 Industry
With its private and government partnerships, this initiative has the potential to significantly impact the growth and development of Web3 and blockchain technology industries both locally in Abu Dhabi as well as globally. By providing resources such as funding opportunities plus access to potential partners like FABRIC or cryptocurrency exchanges/service providers, start-ups have an increased chance of succeeding in their endeavors within this space.
Fight Out (FGHT) – Newest Move For Project Rating Certification
In addition to this new web3 funding opportunity from Hub 71+, Fight Out (FGHT) – among other projects – is taking additional steps towards project rating certification by partnering with CertiK for auditing services as well as CoinSniper for KYC verification services during its early stage presale period which is currently live now .
Overall, through initiatives such as Hub 71+ Digital Assets , Abu Dhabi not only aims to provide these startups with necessary resources but also encourages others across its region—and beyond—to join similar efforts or create their own initiatives that could potentially revolutionize how businesses operate within our ever-evolving digital world!