The UAE-based NFT platform UPYO has received $1M in a SEED round led by angel investors. The region will have a platform to trade NFTs courtesy of UPYO (Non Fungible Tokens).
Ahmed Alsenan co-founded UPYO, and their mission is to build a secure, user-friendly, and high-quality platform for trading NFTs in the Middle East in order to encourage Arab artists to think, create, and participate in the NFTs market as well as to feel free to share their magnificent work. Additionally, UPYO aims to serve as a user’s gateway for interacting in the digital economy and connecting with millions of creators worldwide.
The platform offers ‘Lazy Minting’, a free minting option that allows all users to launch, purchase, and sell NFTs from a secure NFT marketplace without having to pay any launch costs. Ahmed Alsenan, the (CEO) and CO-Founder, stated: “The NFT market in Saudi Arabia and the MENA region is still nascent. People are still discovering the NFT experience. So, we wanted to be their gateway to this amazing digital economy. Our company strives to nurture and promote Arab and MENA talents, giving them a platform to display their work and connect with millions of people globally.”
For many Arab audiences, the NFTs market is still unclear, and they frequently fall victim to fraudulent activity by unreliable platforms that operate in the shadows. UPYO is working to clear things up for their audiences by granting them access to a secure environment where they feel comfortable sharing their work while also safeguarding its originality and copyrights.
As all the major corporations are putting their resources and efforts into the Metaverse cosmos, which is predicted to produce up to $5Tn in value by 2030, UPYO’s vision also includes raising awareness about it. The company claims that the metaverse will usher in a new era of interpersonal interactions and that it is expanding at a rate beyond comprehension. As a result, they need to stay up to date on all new digital trends to keep up with this revolutionary development and play a vital role in ensuring that humanity has a better future.