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In line with an govt with the Dubai-based DAMAC Properties, the true property growth “firm has already succeeded in concluding actual property offers price $50 million through cryptocurrencies because the starting of this yr.” The chief, nonetheless, says his firm is going through challenges convincing the older technology decision-makers to purchase into the metaverse, non-fungible tokens, and cryptocurrencies.
Utilizing a Trusted Middleman
The Dubai-based actual property developer, DAMAC Properties, has because the starting of the yr accomplished cryptocurrency offers price $50 million, the corporate’s chief working officer (COO) Ali Sajwani has mentioned.
In his remarks throughout an interview, the COO mentioned by accepting both bitcoin or ethereum as cost, DAMAC has proven the extent to which his firm will go to ensure that it to “profit from probably the most superior know-how options.”
When requested concerning the cost mechanism that was used to conclude the true property offers, the COO mentioned a trusted middleman had been chosen to facilitate the transactions. He mentioned:
The cost course of is made by way of a trusted monetary middleman accepted by the Abu Dhabi World Market, the ‘Heaven’ firm, the place the shopper pays the worth of the property in bitcoin or ethereum, as they’re among the many most traded digital currencies when it comes to security and belief, after which the monetary middleman transfers the quantity to our digital pockets in dirhams or {dollars}.
Sajwani added that his firm’s use of a trusted monetary middleman means DAMAC Properties is ready to eradicate the worth fluctuation danger. A distinct report has recognized the regulated middleman utilized by DAMAC Properties as Havyn digital asset trade.
Impediments to Accessing the Metaverse
In the meantime, in the identical interview, the COO spoke of the challenges or impediments that his firm faces relating to accessing the metaverse. In line with Sajwani, one of many hurdles going through proponents of rising applied sciences embody “convincing the outdated technology of decision-makers to take fast and proactive steps to take a position on this new and unfamiliar world.”
Additionally, because the metaverse, NFTs, and cryptocurrencies are nonetheless pretty new, potential customers have to develop into acquainted with these first. In line with the COO, this implies decision-makers should do an in-depth survey or analysis earlier than they’ll begin investing.
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