Wednesday 25 May 2022 – 18:39
ABU DHABI, 25 May 2020 (WAM) – e & has announced the launch of its first set of non-fungal signs “NFTs”. Thus, e & is the first technology investment group to launch these tokens in the Middle East.
The first batch of digital tokens will be distributed to a selected group of people, while e & will in turn announce the details of the other groups according to its plans regarding the technology of non-fungible tokens.
The first set of digital tokens reflects e &’s commitment to improving technical capabilities, as the volume of transactions executed by the company’s blockchain arm crossed the AED 10 billion barrier last year. It also expresses its vision to bring about positive change in all its operations by innovating and activating the best solutions, utilizing advanced technologies and maintaining the advanced communication infrastructure.
In this context, Hatem Dowidar, CEO of e & .. said: “The digital transformation we are undertaking on all fronts drives us to advance our pursuit of innovation. The concept of metaverse offers us many ways to test digital domains on ways that were unthinkable a few years ago.As a pivotal point in our efforts to leverage blockchain technologies, we are proud to be the industry pioneer in the Middle East in launching these tokens, enabling us and our customers to set about the limitless possibilities that lie ahead in this metaverse space. ”
He explained that the design of the non-fungal symbols in the UAE confirmed the group’s efforts to support the development of new products, technologies and solutions in the country.
He added, “This is a unique opportunity to celebrate our tireless efforts to provide the future of technology. We live in the era of the revival of communication, where we must take advantage of all the opportunities that our leadership position has the field of digital communication in a highly interconnected world. ”
Irreplaceable tokens are digital assets that contain distinctive numbers stored on the blockchain, enhancing their privacy and ownership. With the speed and efficiency of 5G networks offering uninterrupted communication capabilities, the innovative ways in which they can be used in the non-swingable tokens market are limitless. A network that supports these tokens should be characterized by a very fast communication speed of data transfer in milliseconds, with advanced cyber security protocols to protect assets worth hundreds of millions of dollars, and continuous and seamless network access regardless of data volume.
Non-swingable tokens have attracted the attention of many in recent years as they are digital assets spanning multiple sectors; From art to music, games and multimedia and are regularly purchased online. The value of the market for non-swing tokens in 2021 was $ 41 billion, roughly equal to the total value of the worldwide visual arts market. Due to their specific domains and unique concepts, NFTs have unique identifiers, unlike open issues of other cryptocurrencies, which enhance the protection of intellectual property through blockchain technology.
This launch is the latest success e & has seen in its transformation into a global technology and investment group earlier this year. e & has played an active role in the development of the telecommunications infrastructure in the UAE since the group was established 46 years ago. Collaborating with its transformation into a technology conglomerate that meets the aspirations of digitization in the UAE, e & was eager to combine its scalable technical skills and its inherent expertise in the telecommunications sector, enriching customers’ lifestyles and value for the business has increased. sector.
Etisalat Group launched its new brand, e &, on 23 February 2022, which aims, through its strategy, to accelerate growth through a flexible business model representing the group’s key business sectors. The telecommunications sector comes on top of these sectors, to preserve the group’s legacy and excellence in providing superior telecommunications services in the UAE and internationally. In order to focus on the technological investment of customers, in a way that enhances their experiences and their lifestyle, “e & life” comes to make the digital world of the next generation of digital services consistent and responsive to the daily life requirements of customers , including entertainment, retail, mobility services and financial technology. To enhance technology investment for governments, businesses and enterprises, e & enterprise focuses on maximizing the value that e & brings to businesses and governments through robust cyber security, cloud computing, Internet of Things and AI solutions, as well as the service of mega projects. Through “e & investment”, “e &” will focus on investment opportunities and acquisitions to enhance its global presence and the returns provided to shareholders.
WAM / Ahmed Al Nuaimi / Abdel Nasser Moneim