Animoca Brands Lands in Dubai, Launches Bid to Capture the Middle East’s Top Web3 Hub

▲ Dubai, VASP, Animoca Brands, Virtual Assets / ChatGPT-generated image

Animoca Brands has officially obtained a license from Dubai’s Virtual Assets Regulatory Authority, accelerating its global Web3 ecosystem expansion with the Middle East as a strategic hub.

According to cryptocurrency media outlet Cointelegraph on February 16 (local time), Animoca Brands secured a Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA). With this approval, Animoca Brands has established a legal foundation to provide professional virtual asset services within Dubai’s regulatory framework and has made clear its ambition to lead the blockchain gaming and metaverse industries in the Middle East.

The Middle East has recently emerged as a new Web3 hub, driven by government-led initiatives to foster digital assets. Leveraging Dubai’s advanced regulatory environment, Animoca Brands plans to introduce innovative services targeting both institutional investors and retail users. The company stated that the license acquisition marks not only an expansion of its operational scope but also a significant milestone in strengthening partnerships within the region and promoting digital asset ownership.

Animoca Brands co-founder and executive chairman Yat Siu emphasized that Dubai’s open regulatory approach provides an attractive environment for Web3 companies. He stated that through close cooperation with VARA, the company will contribute to establishing a transparent and secure virtual asset trading environment. In particular, the Middle East’s high proportion of young people and strong adoption of digital technologies are expected to serve as key drivers for the growth of blockchain-based gaming initiatives pursued by Animoca Brands.

The license is significant as it demonstrates Animoca Brands’ decision to pursue growth within established regulatory frameworks amid tightening global regulations. Dubai has presented clear guidelines to attract global virtual asset firms, and the addition of Animoca Brands is expected to enhance the professionalism of the regional ecosystem. Market experts believe that this move is likely to accelerate capital inflows into the Middle East and prompt a wave of related companies entering the region.

Animoca Brands plans to leverage its Dubai base to expand its influence into neighboring countries and drive the mainstream adoption of Web3, the next generation of the internet. Amid volatility in the virtual asset market, companies securing institutional stability are increasingly taking the lead. The success of Animoca Brands’ Middle East strategy is expected to be a key factor shaping the future balance of power in the global blockchain market.

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