December 22, 2022

First Physical NFT Shop Opens in Dubai

ftNFT Shop

ftNFT Shop

Today, Dubai witnesses the opening of the first physical NFT shop at the Mall of the Emirates. 

Operated by the international tech giant SoftConstruct and part of the Fastex Web3 ecosystem, ftNFT will let its visitors browse, purchase and sell NFTs in person and create 3D avatars for themselves through a professional 3D NFT scanner.

On the opening day, ftNFT visitors can meet NFT artists and exhibitors, who will give more information about their artworks. Amrita Sethi, the first NFT artist in the UAE, is expected to attend the opening. The shop will display the NFT collection of AKNEYE and Chiko & Roko. 

SoftConstruct intends to open the second physical NFT shop at Dubai Mall, saying that its shops come within a framework to be a gateway to digital art, music, and other ways of creating, utilizing, and monetizing NFTs, according to ftnft website.

According to the Armenian company, ftNFT aims to collaborate with artists, creators, brands, interested partners, and peers who want to showcase their artwork in form of NFTs, opening the door for artists to create their pieces of art to show them at its shops in addition to bringing NFT and crypto enthusiasts to a physical platform making them interact with each other. 

It also pointed out that the NFT shops target educating people on digital collectibles rather than selling them by offering face-to-face support for customers from professionals. 

There are eight brands under SoftConstruct that offer IT solutions to various industries, with over 300 partners and over 16 offices worldwide. It has its unique NFT marketplace, ftNFT, operating under the Fastex ecosystem that also includes Fastex Exchange, FastexVerse, Fastex Pay, Fastex Chain, FastToken and FirstTicket.

It is obvious that the UAE, especially Dubai, attracts IT companies to showcase their latest innovations in the Web3 world and its products in light of the country’s keenness to ease the crypto regulation. In addition, reports said that the UAE is one of the fastest-growing destinations for Web3 projects, thanks to the initiatives taken by its government.

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