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Abu Dhabi Launches ‘Hub71 + Digital Assets’ To Accelerate Growth of Web3 Startups With More Than $2 Billion in Funding Available

Cointime Official

Hub71, Abu Dhabi’s global tech ecosystem, today announces the launch of Hub71+ Digital Assets, a dedicated Web3 specialist ecosystem, with more than $2 billion of capital committed to fund Web3 startups and blockchain technologies from the UAE’s capital.

Hub71+ is a specialist ecosystem dedicated to advancing specific technology sectors. The first Hub71+ to launch is ‘Hub71+ Digital Assets’ – focused on unleashing the disruptive potential of Web3 and the growth of digital assets.

Web3 describes the evolution of the internet into a decentralized online space increasingly built on innovations such as blockchain technology and metaverse applications. Web3 startups, from seed to unicorn stage, will benefit from the ability to scale globally through Hub71+ Digital Assets, unlocking access to a host of programs, initiatives, and its extensive range of Web3 focused corporate, government and investment partners in the UAE and global markets.

Hub71+ Digital Assets will be based at Hub71 in Abu Dhabi Global Market (ADGM) where Web3 startups can operate in a progressive regulatory environment, which offers world-class blockchain and virtual asset infrastructure.

First Abu Dhabi Bank (FAB), the UAE's largest bank and one of the world's largest and safest financial institutions, and its research and innovation center, FABRIC join Hub71 as the anchor partner of Hub71+ Digital Assets. FAB will identify leading Web3 startups, entrepreneurs, and breakthrough technologies to help the UAE’s largest bank reimagine financial services in the metaverse.

Hub71+ Digital Assets will contribute to supporting the UAE Digital Economy Strategy, which aims to double the contribution of the digital economy to non-oil GDP to more than 20 per cent within 10 years.

Web3 startups can apply now at https://hub71.com/plus/digitalassets to join Hub71+ Digital Assets, and benefit from Hub71’s range of incentives and value creation programs that support the growth of Web3 startups.

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