In response to an govt with the Dubai-based DAMAC Properties, the actual property improvement “firm has already succeeded in concluding actual property offers value $50 million by way of cryptocurrencies for the reason that starting of this yr.” The manager, nonetheless, says his firm is dealing with 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 value $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 fee, DAMAC has proven the extent to which his firm will go to ensure that it to “profit from probably the most superior expertise options.”
When requested in regards to the fee mechanism that was used to conclude the actual property offers, the COO mentioned a trusted middleman had been chosen to facilitate the transactions. He mentioned:
The fee course of is made via a trusted monetary middleman permitted by the Abu Dhabi International 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 by way of 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 remove the worth fluctuation threat. A distinct report has recognized the regulated middleman utilized by DAMAC Properties as Havyn digital asset change.
Impediments to Accessing the Metaverse
In the meantime, in the identical interview, the COO spoke of the challenges or impediments that his firm faces in relation to accessing the metaverse. In response to Sajwani, one of many hurdles dealing with proponents of rising applied sciences embody “convincing the outdated era of decision-makers to take fast and proactive steps to take a position on this new and unfamiliar world.”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 should do an in-depth survey or analysis earlier than they’ll begin investing.
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