In response to an government with the Dubai-based DAMAC Properties, the actual property growth “firm has already succeeded in concluding actual property offers price $50 million by way of cryptocurrencies for the reason that starting of this yr.” The chief, nevertheless, says his firm is going through challenges convincing the older era 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 for the reason that starting of the yr accomplished cryptocurrency offers price $50 million, the corporate’s chief working officer (COO) Ali Sajwani has stated.
In his remarks throughout an interview, the COO stated by accepting both bitcoin or ethereum as fee, DAMAC has proven the extent to which his firm will go to ensure that it to “profit from essentially the most superior expertise options.”
When requested in regards to the fee mechanism that was used to conclude the actual property offers, the COO stated a trusted middleman had been chosen to facilitate the transactions. He stated:
The fee course of is made by a trusted monetary middleman authorised by the Abu Dhabi International Market, the ‘Heaven’ firm, the place the client 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 unique report has recognized the regulated middleman utilized by DAMAC Properties as Havyn digital asset alternate.
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In response to Sajwani, one of many hurdles going through proponents of rising applied sciences embrace “convincing the outdated era of decision-makers to take fast and proactive steps to take a position on this new and unfamiliar world.”
Additionally, for the reason that metaverse, NFTs, and cryptocurrencies are nonetheless pretty new, potential customers have to change into acquainted with these first. In response to the COO, this implies decision-makers must do an in-depth survey or analysis earlier than they will begin investing.
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