Read our latest Saudi NFT news to understand the NFT market mood, trends, stories, developments, and updates in Saudi Arabia.

Saudi NFT News

A recent report showed that there is a high level of awareness across the Gulf countries about NFTs, metaverse, and cryptocurrencies, especially among younger and high-income males.



Chalhoub Group released a new report titled ‘GCC State of the Metaverse and its Potential for Luxury Retail’ in which it surveyed 1,600 consumers from Gulf countries to measure the actual adoption and future behavior towards metaverse, NFTs, and crypto, <a href="https://www.itp.net/emergent-tech/high-metaverse-awareness-in-the-gcc-presents-huge-opportunities-for-retail-sector-report" target="_blank" rel="noreferrer noopener">according to ITP Website</a>.



The report indicated a high level of awareness among residents in the UAE, Saudi Arabia, and Oman about crypto, NFTs, and metaverse, with a percentage of 77%, 49%, and 46%, respectively.



Chalhoup surveyed luxury consumers in the Gulf countries, showing that 89% would like to see products in the metaverse and 71% have already engaged with a branded virtual experience. Regarding the adoption rates, 48% of the surveyed said they have already invested in crypto, while 23% confirmed that they had engaged with NFTs and actively used metaverse platforms.



<figure class="wp-block-image size-full"><img decoding="async" loading="lazy" width="824" height="1024" src="https://adminblog.upyo.io/wp-content/uploads/2022/12/GCC-State-of-the-Metaverse-data-3-824x1024-1.jpg" alt="" class="wp-image-3065" srcset="https://3.111.63.208/wp-content/uploads/2022/12/GCC-State-of-the-Metaverse-data-3-824x1024-1.jpg 824w, https://3.111.63.208/wp-content/uploads/2022/12/GCC-State-of-the-Metaverse-data-3-824x1024-1-241x300.jpg 241w, https://3.111.63.208/wp-content/uploads/2022/12/GCC-State-of-the-Metaverse-data-3-824x1024-1-768x954.jpg 768w" sizes="(max-width: 824px) 100vw, 824px" /></figure>



Regarding NFTs, 23% of Gulf countries&#8217; luxury shoppers already own NFTs, while 57% are interested in purchasing NFTs. According to the report, 83% said they would consider NFTs if they could be redeemed for a physical product. The report found that the reason for purchasing NFTs is for investment purposes, with virtual art and sport being the most purchased types.



As for the metaverse, the report asserted that the Gulf countries have the right foundations to render their metaverse-based initiatives successful, driven by tech-savvy youth and enabled by a favorable regulatory environment. The high disposable income in the Gulf countries and regional firms&#8217; desire to experience the metaverse are factors that contribute to the metaverse development in the region.



In addition, their governments are prioritizing incorporating the metaverse into national strategies. Despite the optimistic figures, the report detected some concerns from the users. It reported that 34% of the users are afraid of crypto volatility, while 28% have a lack of trust in NFTs, in addition, 42% have a lack of understanding of the metaverse.



In this regard, Head of Corporate Innovation at Chalhoub Group Nick Vinckier said: &#8220;The GCC is known for its young and tech-savvy consumers who are very knowledgeable about the metaverse while being luxury enthusiasts. For us at Chalhoub Group, we recognize that leveraging the power of Web3 enables us to reinvent the entire customer journey, whether it’s building awareness, increasing brand engagement, enhancing conversion, nurturing loyalty, or launching new business models.&#8221;

Metaverse

Report Reveals High Level of Awareness in Gulf Countries about NFTs, Metaverse, Crypto

In response to Saudi Arabia&#8217;s surprising victory over Argentina, one of the best football teams in the world, 2-1 in the World Cup in Qatar on Tuesday, the sales of Saudi-themed NFTs, called &#8220;The Saudis&#8221; hiked 387%, <a href="https://www.coindesk.com/markets/2022/11/22/saudi-arabias-nft-collection-soars-after-unexpected-soccer-win-against-argentina/" target="_blank" rel="noreferrer noopener">according to Coin Desk</a>.&nbsp;



While Association Fan Token (ARG) plummeted by 32% as it recorded $5.49 for each token, compared to $8.4 days ago, in light of the Argentinian national team was likely expected to win the game on Tuesday<a href="https://coinmarketcap.com/currencies/argentinefootballassociationfantoken/" target="_blank" rel="noreferrer noopener">, according to data from CoinMarketCap</a>.&nbsp;



It is worth mentioning that the Argentine Football Association (AFA), the governing body of football in Argentina, collaborated in May 2021 with Chiliz ($CHZ), a pioneering blockchain fintech provider for sports &amp; entertainment in launching the $ARG Fan Token on Socios.com, a multi-sport fan engagement and rewards app.&nbsp;



The non-fungible tokens became popular among crypto users during the World Cup. Argentina was the world&#8217;s first national team to mint fan tokens to interact with their global fan base.



Since the beginning of the World Cup in Qatar, the prices of national teams-linked NFTs went down. The&nbsp;<a target="_blank" href="https://coinmarketcap.com/currencies/spain-national-fan-token/" rel="noreferrer noopener">Spain National Fan Token</a>&nbsp;plunged to $0.36 at the time of writing. While the&nbsp;<a target="_blank" href="https://coinmarketcap.com/currencies/brazil-national-football-team-fan-token/" rel="noreferrer noopener">Brazil National Football Team Fan Token</a>, created in partnership with Bitci, fell by about 10% to $0.709 at the time of publication.&nbsp;



NFTs, known as non-fungible tokens, refer to cryptographic tokens that have a unique capability or element, making them distinct from other NFTs. These digital tokens are permanently associated with a piece and encoded with the creator’s sign. It attests to the piece’s possession and legitimacy.



In simple terms, NFT is a form of digital asset that showcases real-world artifacts such as music, art, precious gems such as diamonds, in-game stuff, and many more. They are often encrypted with similar software as any other cryptos and are purchased and sold online with cryptocurrency.



However, remember that no NFT is the same, and it’s not similar to any other with respect to value or property. Every NFT is allotted a digital hash differentiating it from other NFTs. This distinct trait enables an NFT to be used as proof of provenance. NFTs come with essential features such as rarity, indivisibility, and uniqueness.&nbsp;

The Saudis

Saudi-Themed NFTs Go Up 387% Following Victory over Argentina

The Arab Gulf region is witnessing a new wave of art, called the non-fungible tokens (NFTs). A large number of artists in the gulf region, especially in the UAE and Saudi Arabia started to join digital art and among those who joined the world of digital assets was Ahaad Alamoudi.&nbsp;



Who Is Ahaad Alamoudi?&nbsp;



Alamoudi, a Saudi artist, was born in 1991 in Jeddah. Her life was between Saudi Arabia and the United Kingdom. She received a bachelor&#8217;s degree in visual communication from Dar Al-Hekma University in 2014 and a master&#8217;s degree in print from the Royal College of Art in London in 2017.



Her Artistic Career



Alamoudi inherited her love of art from her mother. Her artworks are mainly based on photography, video, and print. Through her artworks, Alamoudi tries to modernize the historic image of Saudi Arabia through her research on Saudi reforming ethnography. Her artworks were displayed at several exhibitions around the world.&nbsp;



How Did Alamoudi Enter The NFT World?&nbsp;



When the NFTs appeared, Alamoudi thought at the beginning that she won&#8217;t be a part of this industry. Later, she realized the importance of this field for the future of art and getting familiar with it.&nbsp;



She saw that the NFTs put the artist in the first place. They make him the sole controller of his work and provide the element of transparency that art needs.



<figure class="wp-block-image size-full is-resized"><img decoding="async" loading="lazy" src="https://adminblog.upyo.io/wp-content/uploads/2022/11/Ahaad-Alamoudi-Artwork.jpg" alt="" class="wp-image-2680" width="698" height="382" srcset="https://3.111.63.208/wp-content/uploads/2022/11/Ahaad-Alamoudi-Artwork.jpg 1000w, https://3.111.63.208/wp-content/uploads/2022/11/Ahaad-Alamoudi-Artwork-300x164.jpg 300w, https://3.111.63.208/wp-content/uploads/2022/11/Ahaad-Alamoudi-Artwork-768x421.jpg 768w" sizes="(max-width: 698px) 100vw, 698px" /></figure>



Her Participation in Bawa Exhibition



Alamoudi takes part in Bawa, a contemporary art gallery online for Khaleeji artists. At this gallery, she presents footages and images for herself as NFTs.&nbsp;



Movement is the main element in these digital collectibles as an indication of the radical conditions and the transformation that the Gulf region and Saudi Arabia, in particular, have witnessed during the past few years.&nbsp;



<figure class="wp-block-image size-large is-resized"><img decoding="async" loading="lazy" src="https://adminblog.upyo.io/wp-content/uploads/2022/11/Thumbnail-1-1024x695.png" alt="" class="wp-image-2681" width="694" height="471" srcset="https://3.111.63.208/wp-content/uploads/2022/11/Thumbnail-1-1024x695.png 1024w, https://3.111.63.208/wp-content/uploads/2022/11/Thumbnail-1-300x204.png 300w, https://3.111.63.208/wp-content/uploads/2022/11/Thumbnail-1-768x521.png 768w, https://3.111.63.208/wp-content/uploads/2022/11/Thumbnail-1.png 1200w" sizes="(max-width: 694px) 100vw, 694px" /></figure>



Alamoudi&#8217;s Most Significant NFTs&nbsp;



As we mentioned, Alamoudi offers several of her artworks as NFTs. The most remarkable of which are a 10-second video titled &#8220;The Mirage&#8221; and another 18-second video called &#8220;Fly Right into the Future.&#8221;&nbsp;



Alamoudi looks forward to offering more artworks as NFTs in the coming period to be a part of this promising industry.&nbsp;



You can follow Alamoudi&#8217;s official accounts on social media via these links:&nbsp;



<ul class="is-layout-flex wp-block-social-links"><li class="wp-social-link wp-social-link-linkedin wp-block-social-link"><a href="https://www.linkedin.com/in/ahaad-alamoudi-93a618183/?originalSubdomain=sa" class="wp-block-social-link-anchor"><svg width="24" height="24" viewBox="0 0 24 24" version="1.1" xmlns="http://www.w3.org/2000/svg" aria-hidden="true" focusable="false"><path d="M19.7,3H4.3C3.582,3,3,3.582,3,4.3v15.4C3,20.418,3.582,21,4.3,21h15.4c0.718,0,1.3-0.582,1.3-1.3V4.3 C21,3.582,20.418,3,19.7,3z M8.339,18.338H5.667v-8.59h2.672V18.338z M7.004,8.574c-0.857,0-1.549-0.694-1.549-1.548 c0-0.855,0.691-1.548,1.549-1.548c0.854,0,1.547,0.694,1.547,1.548C8.551,7.881,7.858,8.574,7.004,8.574z M18.339,18.338h-2.669 v-4.177c0-0.996-0.017-2.278-1.387-2.278c-1.389,0-1.601,1.086-1.601,2.206v4.249h-2.667v-8.59h2.559v1.174h0.037 c0.356-0.675,1.227-1.387,2.526-1.387c2.703,0,3.203,1.779,3.203,4.092V18.338z"></path></svg>LinkedIn</a></li>

<li class="wp-social-link wp-social-link-twitter wp-block-social-link"><a href="https://twitter.com/AhaadAlamoudi?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor" class="wp-block-social-link-anchor"><svg width="24" height="24" viewBox="0 0 24 24" version="1.1" xmlns="http://www.w3.org/2000/svg" aria-hidden="true" focusable="false"><path d="M22.23,5.924c-0.736,0.326-1.527,0.547-2.357,0.646c0.847-0.508,1.498-1.312,1.804-2.27 c-0.793,0.47-1.671,0.812-2.606,0.996C18.324,4.498,17.257,4,16.077,4c-2.266,0-4.103,1.837-4.103,4.103 c0,0.322,0.036,0.635,0.106,0.935C8.67,8.867,5.647,7.234,3.623,4.751C3.27,5.357,3.067,6.062,3.067,6.814 c0,1.424,0.724,2.679,1.825,3.415c-0.673-0.021-1.305-0.206-1.859-0.513c0,0.017,0,0.034,0,0.052c0,1.988,1.414,3.647,3.292,4.023 c-0.344,0.094-0.707,0.144-1.081,0.144c-0.264,0-0.521-0.026-0.772-0.074c0.522,1.63,2.038,2.816,3.833,2.85 c-1.404,1.1-3.174,1.756-5.096,1.756c-0.331,0-0.658-0.019-0.979-0.057c1.816,1.164,3.973,1.843,6.29,1.843 c7.547,0,11.675-6.252,11.675-11.675c0-0.178-0.004-0.355-0.012-0.531C20.985,7.47,21.68,6.747,22.23,5.924z"></path></svg>Twitter</a></li>

<li class="wp-social-link wp-social-link-instagram wp-block-social-link"><a href="https://www.instagram.com/ahaadalamoudi/?hl=en" class="wp-block-social-link-anchor"><svg width="24" height="24" viewBox="0 0 24 24" version="1.1" xmlns="http://www.w3.org/2000/svg" aria-hidden="true" focusable="false"><path d="M12,4.622c2.403,0,2.688,0.009,3.637,0.052c0.877,0.04,1.354,0.187,1.671,0.31c0.42,0.163,0.72,0.358,1.035,0.673 c0.315,0.315,0.51,0.615,0.673,1.035c0.123,0.317,0.27,0.794,0.31,1.671c0.043,0.949,0.052,1.234,0.052,3.637 s-0.009,2.688-0.052,3.637c-0.04,0.877-0.187,1.354-0.31,1.671c-0.163,0.42-0.358,0.72-0.673,1.035 c-0.315,0.315-0.615,0.51-1.035,0.673c-0.317,0.123-0.794,0.27-1.671,0.31c-0.949,0.043-1.233,0.052-3.637,0.052 s-2.688-0.009-3.637-0.052c-0.877-0.04-1.354-0.187-1.671-0.31c-0.42-0.163-0.72-0.358-1.035-0.673 c-0.315-0.315-0.51-0.615-0.673-1.035c-0.123-0.317-0.27-0.794-0.31-1.671C4.631,14.688,4.622,14.403,4.622,12 s0.009-2.688,0.052-3.637c0.04-0.877,0.187-1.354,0.31-1.671c0.163-0.42,0.358-0.72,0.673-1.035 c0.315-0.315,0.615-0.51,1.035-0.673c0.317-0.123,0.794-0.27,1.671-0.31C9.312,4.631,9.597,4.622,12,4.622 M12,3 C9.556,3,9.249,3.01,8.289,3.054C7.331,3.098,6.677,3.25,6.105,3.472C5.513,3.702,5.011,4.01,4.511,4.511 c-0.5,0.5-0.808,1.002-1.038,1.594C3.25,6.677,3.098,7.331,3.054,8.289C3.01,9.249,3,9.556,3,12c0,2.444,0.01,2.751,0.054,3.711 c0.044,0.958,0.196,1.612,0.418,2.185c0.23,0.592,0.538,1.094,1.038,1.594c0.5,0.5,1.002,0.808,1.594,1.038 c0.572,0.222,1.227,0.375,2.185,0.418C9.249,20.99,9.556,21,12,21s2.751-0.01,3.711-0.054c0.958-0.044,1.612-0.196,2.185-0.418 c0.592-0.23,1.094-0.538,1.594-1.038c0.5-0.5,0.808-1.002,1.038-1.594c0.222-0.572,0.375-1.227,0.418-2.185 C20.99,14.751,21,14.444,21,12s-0.01-2.751-0.054-3.711c-0.044-0.958-0.196-1.612-0.418-2.185c-0.23-0.592-0.538-1.094-1.038-1.594 c-0.5-0.5-1.002-0.808-1.594-1.038c-0.572-0.222-1.227-0.375-2.185-0.418C14.751,3.01,14.444,3,12,3L12,3z M12,7.378 c-2.552,0-4.622,2.069-4.622,4.622S9.448,16.622,12,16.622s4.622-2.069,4.622-4.622S14.552,7.378,12,7.378z M12,15 c-1.657,0-3-1.343-3-3s1.343-3,3-3s3,1.343,3,3S13.657,15,12,15z M16.804,6.116c-0.596,0-1.08,0.484-1.08,1.08 s0.484,1.08,1.08,1.08c0.596,0,1.08-0.484,1.08-1.08S17.401,6.116,16.804,6.116z"></path></svg>Instagram</a></li></ul>

Ahaad Alamoudi

Web3

Ahaad Alamoudi… Saudi Artist Documents Radical Change in Her Country

Over the past months, the non-fungible tokens (NFTs) succeeded in attracting leading figures in the Arab world. One of these figures is Salwa Radwi of Saudi Arabia.&nbsp;



Who Is Salwa Radwi?&nbsp;



Radwi, 26, is one of the most famous entrepreneurs in Saudi Arabia in the field of NFTs. She was the youngest Saudi artist whose photographs are displayed in the British Museum. She participated in this museum in 2012 when she was sixteen years old.



How Did She Enter NFT World?&nbsp;



Unlike most of the famous figures in the NFT world, who entered it for their interest in cryptocurrencies, blockchain, and Web 3.0, Radwi joined the NFT world for her interest in art and innovation and her belief in the creative economy.&nbsp;



She realized the importance of empowering talents and content creators along with maintaining the intellectual property rights of their work, especially since Saudi Arabia became prominent in the content industry.



She did not find any way to achieve this except for the NFT as a perfect way to maintain the innovators&#8217; rights and find new markets for their works far away from the exploitation of mediators.&nbsp;



Establishment of Nuqtah Platform&nbsp;



Radwi founded Nuqtah platform for NFTs in mid-2021 to bridge the gap between the innovative community and the world&#8217;s cutting-edge technology.&nbsp;



<figure class="wp-block-image size-full is-resized"><img decoding="async" loading="lazy" src="https://adminblog.upyo.io/wp-content/uploads/2022/10/Nuqtah.jpg" alt="" class="wp-image-2060" width="690" height="362" srcset="https://3.111.63.208/wp-content/uploads/2022/10/Nuqtah.jpg 1024w, https://3.111.63.208/wp-content/uploads/2022/10/Nuqtah-300x158.jpg 300w, https://3.111.63.208/wp-content/uploads/2022/10/Nuqtah-768x404.jpg 768w" sizes="(max-width: 690px) 100vw, 690px" /></figure>



Nuqtah gives the opportunity for local artists to turn their artworks into NFTs and market them along with maintaining their intellectual property rights.&nbsp;



Radwi&#8217;s Goals in NFT World



Radwi says her main goal in establishing Nuqtah is to return the favor to the creative community. She believes that the artists and their artworks had been exploited by the mediators before the emergence of the NFTs.&nbsp;



Hence, she realized the necessity of protecting the artists and their artworks through the NFTs to validate artworks and market them to a new audience in addition to preserving traditional art forever.&nbsp;



You can follow Radwi&#8217;s official accounts on social media via these links:&nbsp;



<ul class="is-layout-flex wp-block-social-links"><li class="wp-social-link wp-social-link-twitter wp-block-social-link"><a href="https://mobile.twitter.com/ali_salwa" class="wp-block-social-link-anchor"><svg width="24" height="24" viewBox="0 0 24 24" version="1.1" xmlns="http://www.w3.org/2000/svg" aria-hidden="true" focusable="false"><path d="M22.23,5.924c-0.736,0.326-1.527,0.547-2.357,0.646c0.847-0.508,1.498-1.312,1.804-2.27 c-0.793,0.47-1.671,0.812-2.606,0.996C18.324,4.498,17.257,4,16.077,4c-2.266,0-4.103,1.837-4.103,4.103 c0,0.322,0.036,0.635,0.106,0.935C8.67,8.867,5.647,7.234,3.623,4.751C3.27,5.357,3.067,6.062,3.067,6.814 c0,1.424,0.724,2.679,1.825,3.415c-0.673-0.021-1.305-0.206-1.859-0.513c0,0.017,0,0.034,0,0.052c0,1.988,1.414,3.647,3.292,4.023 c-0.344,0.094-0.707,0.144-1.081,0.144c-0.264,0-0.521-0.026-0.772-0.074c0.522,1.63,2.038,2.816,3.833,2.85 c-1.404,1.1-3.174,1.756-5.096,1.756c-0.331,0-0.658-0.019-0.979-0.057c1.816,1.164,3.973,1.843,6.29,1.843 c7.547,0,11.675-6.252,11.675-11.675c0-0.178-0.004-0.355-0.012-0.531C20.985,7.47,21.68,6.747,22.23,5.924z"></path></svg>Twitter</a></li>

<li class="wp-social-link wp-social-link-linkedin wp-block-social-link"><a href="https://www.linkedin.com/in/salwaradwi/?originalSubdomain=sa" class="wp-block-social-link-anchor"><svg width="24" height="24" viewBox="0 0 24 24" version="1.1" xmlns="http://www.w3.org/2000/svg" aria-hidden="true" focusable="false"><path d="M19.7,3H4.3C3.582,3,3,3.582,3,4.3v15.4C3,20.418,3.582,21,4.3,21h15.4c0.718,0,1.3-0.582,1.3-1.3V4.3 C21,3.582,20.418,3,19.7,3z M8.339,18.338H5.667v-8.59h2.672V18.338z M7.004,8.574c-0.857,0-1.549-0.694-1.549-1.548 c0-0.855,0.691-1.548,1.549-1.548c0.854,0,1.547,0.694,1.547,1.548C8.551,7.881,7.858,8.574,7.004,8.574z M18.339,18.338h-2.669 v-4.177c0-0.996-0.017-2.278-1.387-2.278c-1.389,0-1.601,1.086-1.601,2.206v4.249h-2.667v-8.59h2.559v1.174h0.037 c0.356-0.675,1.227-1.387,2.526-1.387c2.703,0,3.203,1.779,3.203,4.092V18.338z"></path></svg>LinkedIn</a></li></ul>

Saudi NFT News

Latest Saudi NFT News