The Middle East already has over a thousand blockchain organizations, while Dubai has become a global crypto hub. One-third of UAE residents currently own cryptocurrencies, with the country’s central bank planning to launch its digital currency. Amidst these developments, the Abu Dhabi Investment Office (ADIO) has decided to scale up investments in the blockchain-based Web3 ecosystem.

In collaboration with Access Abu Dhabi, ADIO has announced that all women in the city will get free crypto and NFT domains. These will be provided when they register on a platform called Unstoppable Domains, which has partnered with ADIO and Access Abu Dhabi. The aim is to increase women’s participation, who constitute only 7% of the city’s cryptocurrency and 12% of blockchain users.

Crypto domains work as a register of addresses for virtual assets with domain ownership stored on a blockchain. Unstoppable Domains make them decipherable, making it easier and more secure for users to trade crypto and NFTs.

The initiative will promote minority and women-owned businesses in the country, where half of the small ventures are already run by women. The idea is to start inclusion into Web3 early in the region by uplifting women in the digital space.