Abu Dhabi women to get free crypto, NFT and blockchain domains

01/02

02/02

Published: Thu 2 Jun 2022, 6:51 PM

Updated: Fri 17 Jun 2022, 6:55 PM

By
Sandhya D'Mello

Access Abu Dhabi and the Abu Dhabi Investment Office (Adio) have partnered with Web3 identity platform and NFT domain name provider Unstoppable Domains to provide free crypto domains to all women residing in the UAE capital. The giveaway aims to provide opportunities for more women to learn about and ultimately participate in Web3, a space where only 5 per cent to 7 per cent of all cryptocurrency users are women and just 12 per cent work in blockchain.

The initiative was announced during a delegation visit to Abu Dhabi by the ‘Women of Web3’, a powerhouse group of disruptive female tech entrepreneurs from the United States exploring the emirate as a gateway for global expansion. The ‘Women of Web3’ delegation is hosted by Access Abu Dhabi, a Maven Global Access programme powered by Adio. The programme seeks to empower minority and women-owned businesses in a high-growth country where 50 per cent of the small to medium-sized enterprises are already women-owned.

Abdulla Abdul Aziz Al Shamsi, acting-director general of Adio, said: “Abu Dhabi is ensuring the future of Web3 is built around a powerful infrastructure that appeals to all members of the community. By supporting initiatives that invite and uplift women, we can champion diversity early in the Web3 era. The partnership with Unstoppable Domains to provide free crypto domains to all women in Abu Dhabi and embodies the emirate’s promise of inclusion, while creating opportunities for private sector participation in a fast-growing space.”

As Abu Dhabi ramps up efforts to become the Middle East’s crypto hub, the emirate is ensuring the necessary tools and resources are available to encourage active participation in the Web3 space from women across all communities. One pillar of blockchain technology, which has been instrumental in fueling its popularity is its potential to offer access that transcends geographical and financial limitations that excluded groups in the past.

The initiative stands to become a life-changing opportunity for women of Abu Dhabi to capitalise on Web3 opportunities. It provides them with a decentralised web address and digital identity that gives them complete control of their data and content within a space that they fully own, as opposed to Web2 domains, which are leased for fixed periods through third-party brokers.

Sandy Carter, SVP of Unstoppable Domains and Founder of Unstoppable Women of Web3, said: “It’s great to see Abu Dhabi leading the mission to bring Web3 opportunities to women in the Middle East. It has been an honour to be a part of the ‘Women of Web3’ delegation, and I am grateful to Access Abu Dhabi and Adio for providing such an immersive look into Abu Dhabi’s business and technology ecosystem.” She continued, “Providing free crypto, NFT and blockchain domains to all women in Abu Dhabi is a power move that ensures women will be included in increasing numbers within the fabric of the Web3 movement for generations to come. The immense support that we’ve received from Adio and Maven Global Access proves that Abu Dhabi doesn’t just believe in a more inclusive and decentralised future, but is actively building it.”

The ‘Women of Web3’ delegation hosted by Access Abu Dhabi recently concluded with the delegates exploring business expansion opportunities in Abu Dhabi. From 24-26 May, a curated group of US female entrepreneurs in Web3 technologies met with business leaders and key business enablers across the emirate’s ecosystem.

Sarah Omolewu, managing partner of Maven Global Access and founder of Access Abu Dhabi, said: “In a market of expats from more than 200 countries, this initiative could potentially impact the lives of generations of women around the world.” She added, “This is the legacy-building impact I envisioned for the Access Abu Dhabi programme. While the financial gap between male and female founders still exists, the game is changing, and more women recognise the value of emerging technologies in growing and funding their businesses. I’m honored and humbled to have received the support of the Abu Dhabi Investment Office and Unstoppable Domains to make this moment possible.”

Ola Lind, CSO Nasdaq Listed FTFT, chief executive officer & director FTFT Capital, said: “The initiative of the Abu Dhabi government granting free domains to women in that Emirate is commendable. A rise in the number of women users and investors will result in the emergence of a completely untapped market. In behavioral finance studies, women are frequently less risk-averse than males. More women trading cryptocurrency debunks the notion that cryptocurrency investors are risk-seeking individuals. As more women invest in cryptocurrency, the industry’s standing improves. Their rising participation contributes to the argument that cryptocurrencies can coexist with traditional investments.”

Echoing similar sentiment, Marata Carroz Tapsoba, senior advisor, Global Acquisitions, Idoneus, said: “The move by the Abu Dhabi authorities to free cryptocurrency domains for women is timely and welcome. I believe that this initiative will not only encourage greater participation by women but also strengthen and add more credibility to the industry. Additionally, more women in business will have wider access to capital, which will subsequently boost their enterprises. This move will also further cement the UAE’s position as a leading blockchain and cryptocurrency hub.”

— sandhya@khaleejtimes.com