Over 1,450 organisations operate across UAE’s Web3 space – report

Over 1,450 organisations operate across UAE’s Web3 space – report

More than 1,450 active Web3 organisations were operating in the UAE at the end Q3 2022, a new report has revealed. The released by UAE-based Crypto Oasis in partnership with Roland Berger, identified that more than 7,000 individuals are working in the Web3 industry. The report focused on market development and emerging technologies such as crypto, blockchain, metaverse and Web3. The organisations that were active in the blockchain space are broken down into native and non-native entities, according to their dependency on the technology. Native ones which only exist because of the technology accounted for 65 per cent of the total number, while non-native organisations made up the remaining 35 per cent. Meanwhile, Dubai Multi Commodities Centre(DMCC) has registered more than 460 native organisations, comprising over 50 per cent of all native blockchain organisations in Dubai. Out of the 7,000 plus individuals working in the Web3 industry, approximately 77 per cent work in blockchain native organisations, while 23 per cent work in non-native companies. “We strongly believe in the transition towards a crypto economy and see this reflected in the top C-Level executive agendas. The UAE is accelerating its global position as a crypto and Web3 hub, also thanks to