‘Supercharge the metaverse’: Bybit talks Art Dubai Digital debut, GCC market for NFTs

‘Supercharge the metaverse’: Bybit talks Art Dubai Digital debut, GCC market for NFTs

Art Dubai 2022 featured the debut of Art Dubai Digital, a section dedicated to digital art, crypto and NFTs (non-fungible token), a branch of art which has seen an exponential rise in interest over the past couple of years. In an interview with Al Arabiya English, an expert attributed this rise in interest to prolonged time of immobility experienced during the pandemic.

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“Several factors contributed to the rise of NFTs. The world is opening up as we speak, but creators and galleries were enduring over two years of immobility amidst lock downs and travel restrictions, and they had to find a creative outlet that worked for them,” Igneus Terrenus, Head of Communications at Bybit, told Al Arabiya English. “The mainstreaming of NFT solutions and platforms offered a way for them to reach their audience and get recognized and rewarded for their creations.”

Bybit, a world-renowned cryptocurrency exchange and trading platform, was the lead partner for Art Dubai’s inaugural Digital section this year. Art Dubai Digital featured 17 galleries that represented a broad geographic base, including digitally native platforms and collectives, traditional gallery models, and presentations by some new up-and-coming