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

The native blockchain projects are those which are solely based on the native decentralized technology and currently, there are 950 organizations (65%) working towards it while 35% or 500 organizations fall under the non-native category.

The Dubai government announced a metaverse strategy in July with an aim to turn it into one of the world’s top 10 metaverse economies.

The initiative promoted Dubai’s ambitions to support more than 40,000 virtual jobs by 2030.

UAE’s focus on Web3 technology has also made the country a hotspot for some of the leading global crypto platforms and companies.

Global crypto exchange Binance marked its presence among Middle Eastern investors by running various licensed operations in Abu Dhabi, Dubai and other regions.
Source: Cointelegraph
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