The post UAE Web3 Ecosystem Is Home To Almost 1.5k Active Organisations appeared first on Coinpedia Fintech News
The United Arab Emirates (UAE) has become one of the fastest-growing locations for Web3 projects.
A recent study report issued by the Crypto Oasis Ecosystem emphasized the UAE’s dominance in the Web3 economy, identifying over 1,450 active Web3 firms with approximately 7,000 employees.
The analysis classified Web3-based projects into two types: native blockchain and non-native blockchain projects. At the moment, there are 950 companies (65%) exclusively based on native decentralized technology, i.e., native blockchain projects, whereas 35%, or 500 businesses, fall into the non-native category.
According to the report, the Dubai Multi Commodities Centre (DMCC) has registered over 460 native businesses, accounting for more than half of all native Blockchain firms in Dubai.
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