in Blockchain Game, Cryptocurrencies, Metaverse

UAE Web3 ecosystem houses almost 1.5K active organizations: Report

by Repost Admin October 10, 2022, 10:50 am 1.8k Views

A new report shows that 65% of the 1,450 Web3 organizations are based on native blockchain technology, while 35% of the organizations are based on non-native technology.

United Arab Emirates (UAE) has emerged as one of the fastest-growing destinations for Web3 projects, thanks to the initiatives taken by its government.

A recent research report published by the Web3 platform Crypto Oasis Ecosystem highlighted the dominance of UAE in the Web3 economy as it identified more than 1,450 active Web3 organizations with nearly 7,000 individuals.

The report divided Web3-based projects into