Abu Dhabi’s tech startup Hub71 has launched a $2 billion fund to support Web3 and blockchain technology initiatives in the region.
Increasing adoption rates of cryptocurrencies have also mobilized country governments. The spread of different concepts such as web3, blockchain and metaverse has revealed the importance of developing technology. In this context, global names and countries that accelerated their work increased their investments in new technology. Most recently, Abu Dhabi has set up a $2 billion fund to support Web3 initiatives through its tech arm.
Huge Support from Abu Dhabi to Web3 Initiatives
Abu Dhabi is opening its doors to Web3 and blockchain initiatives through its tech arm Hub71.
According to the press release of the authorities, the ecosystem initiative initiated by Hub71 will also provide access to many areas.
The Hubs71+ Digital Assets ecosystem initiative opens the door to a wide variety of programs, potential hosting institutions, government and investment partners.
This $2 billion program will support businesses relocating to Abu Dhabi. The program will also foster startup growth in the Middle East and global markets. It is anticipated that the venture will be located at Hub71 in the Abu Dhabi Global Market financial district.
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