Dubai real estate firm now accepts BTC and ETH

 

we are glad to fete the value this technology brings to our guests,” said DAMAC Properties’ general director of operations Ali SajwaniMulti-billion bone Dubai- grounded real estate inventor DAMAC Parcels has started accepting Bitcoin (BTC) and Ether (ETH) payments for its luxury residences.

DAMAC Properties was innovated by various billionaire Hussain Sajwani in 2002, and the establishment has conducted business throughout the middle east, Canada, and the United Kingdom. It also owns high-end fashion and jewelry brands Roberto Cavalli andDe-Grisgono.

Sajwani is known for extravagant marketing tactics similar to giving away free Lamborghinis to property buyers. He also teamed up with Donald Trump in 2013 to launch multiple Trump-ingrained golf courses in Dubai.

The establishment, valued at roughly$2.1 billion, maybe looking at crypto as a way to attract some attention after a couple of underwhelming times. DAMAC reportedly posted net earnings of$ 816 million in 2021 but overall saw a net loss of$144.6 million amid a time agonized by the global epidemic. The time prior, the establishment’s losses also tallied$ 176 million.

According to a Wednesday advertisement, alongside accepting payments in BTC and ETH, the establishment will also grease the conversion to edict for the dealer if demanded. DAMAC’s general director of operations Ali Sajwani noted that the establishment is paying particular focus to evolve technology similar to crypto It's pivotal for global businesses like ours to stay at the top of elaboration. Offering yet another transactional mode is instigative, and we're glad to fete the value this technology brings to our guests.

DAMAC also stressed that Dubai is “ getting a crypto mecca” thanks to the government’s crypto-friendly regulations and virtual asset licenses, with top exchanges similar as By bit, Binance, and FTX Europe each lately setting up shop there. Kraken also attained a license before this week,the establishment noted that it's keen on “ fueling” Dubai’s intentions by rolling out further crypto enterprises.

Sajwani also noted in February that the company holds ambitious plans to launch its NFT- backed Metaverse platform So, while utmost use the term Metaverse approximately we suppose it's much further and we've come up with a result where we bridge the physical and digital means to allow forcross-utilization.

We've formulated a result to integrate the different platforms under DAMAC, whether real estate, fashion, or jewelry bringing all onto the metaverse.