Abu Dhabi launches Hub71+ Digital Assets to accelerate growth of Web3 startups

Abu Dhabi’s tech ecosystem Hub71 announced 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 decentralised 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 programmes, 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) and its research and innovation center FABRIC have joined Hub71 as the anchor partner of Hub71+ Digital Assets.

Ahmad Ali Alwan, Deputy CEO of Hub71, said: “Hub71+ Digital Assets signifies that Abu Dhabi is open to disruptive businesses driving forward change and transformation on a global level. Decentralisation is the future of a blockchain-based internet, and Web3 startups will play an immense role in accelerating this transition. Teaming up with ADGM, FAB and its research and innovation center, FABRIC, alongside the world’s leading Web3 companies and enablers under one roof will provide founders with an opportunity to fundraise, develop and commercialise innovations safely while operating within the largest regulated jurisdiction of virtual assets in the MENA region.”