Ali Sajwani… Multimillion Investment in Metaverse
Non-fungible tokens (NFTs) did not only succeed in attracting artists and collectors but also billionaires and businessmen. One of the most prominent businessmen, who entered the NFTs world and achieved a good reputation, is Ali Sajwani of the United Arab of Emirates (UAE).
In this article, we will review Sajwani’s story with NFTs;
Who Is Ali Sajwani?
Ali Hussain Sajwani, 28, is the Chief Executive Officer of D-Labs and General Manager of Operations at DAMAC Properties. Born in 1995, Sajwani completed his bachelor’s degree in economics from Northeastern University in the United States.
Despite being in his 20s, Sajwani is one of the most influential characters in the Gulf region, not only in the UAE. He was selected by Arabian Business Magazine as one of the 100 most inspiring leaders in the Middle East.
Sajwani has a rich career. Inherited an entrepreneurial mindset from his father, Hussain Sajwani, the founder of DAMAC, Ali, from an early age, was keen on exploring new horizons, focusing on strategic business investments, particularly in the areas of technology, sustainability, and startups.
He established private projects like a transportation company, which he exited in 2020 after achieving revenues that hit 200%. He established a facility management company with 1,500 employees in the field of the luxury hospitality industry. His last private project was a short-term rental company, which is considered one of the most desirable sectors in Dubai.
Sajwani sits on the board of the family office for investments and is a founding board member of Emirates Angels Investors Association. In addition, he is the chief executive officer of D-Labs and the general manager of operations at DAMAC Properties.
Sajwani’s Story with NFTs
Sajwani was keen on entering the web3 world very early. He saw that the metaverse and NFTs worlds were developing very quickly. He entered this field from a different perspective, thinking that NFTs are a golden opportunity for Emirati companies, who look to regain control of their brands and grow their online communities.
He believes that along with the development of the web3 world, it was important for brands to strengthen their online presence not only through traditional websites but also through joining the metaverse and interacting with a new generation of consumers.
$100-Million-Investment In Metaverse
In light of his positive vision toward the virtual worlds and their role in developing Emirati companies, DAMAC announced investing $100 million in the metaverse in April this year.
DAMAC’s move comes within a framework of its keenness to achieve its goal to be a leading digital brand globally. In this regard, Sajwani believes that this step would help his company to enhance its digital presence and meet its digital asset needs, from virtual homes and real estate to digital wearables to digital jewelry.
He sees the metaverse as a tremendous addition to businesses, companies, and employees by bolstering collaboration and communication in a 3D environment, increasing customer engagement, and promoting customer loyalty, which will surely eventually lead to increased revenues.
Selling Real Estate With Cryptocurrencies
In light of Sajwani’s belief of what is digital, DAMAC announced accepting cryptocurrencies as a means of payment for purchasing real estate. He revealed that DAMAC achieved real estate via cryptocurrencies worth $50 million, AED183.5 million, since the beginning of 2022.
DAMAC is inking real estate deals worth $40 million every month through digital real estate 3D platforms via metaverse, targeting to increase this number to $150 million in 2023.
This vision comes in light of the popularity of real estate in virtual worlds, so Sajwani believes that his company’s entry into the metaverse would contribute to enhancing its sales and luring more international investors.
Sajwani always advises companies and projects to invest in this promising space. On more than one occasion, he asserted the importance of entering the NFTs world, which represents an unprecedented opportunity for companies to create stronger loyalty to their brands among the communities in the metaverse.
You can follow Ali Sajwani on his official accounts on social media through these links:
Get emerging technology updates delivered straight to your inbox
We'll email you 1-3 times per week-and never share your information
Whether you want to learn about NFT, Blockchain, Web3.0, Metaverse, or any other emerging technologies, we have the vital resources that will enlighten and help you make an informed decision.