The first Arab NFTs (Non-Fungible Tokens) platform UPYO has been launched on the first of June 2022. The American registered company is considered to be the largest NFTs marketplace in the MENA region. The (CEO) and CO-Founder is Ahmed Alsenan.
UPYO has announced the raise of a $1 million seed round led by angel investors from 2020 to start it’s journey to provide first Arab platform and the unique of its kind to trade NFTs (Non Fungible Tokens) in the Middle East.
UPYO’s vision is to create a safe, simple, and high-quality platform for trading NFTs in the Middle East in order to inspire the Arab artists to think, create and engage the NFTs marketplace and to feel free to share their magnificent work on top of that to be our user’s gateway to interact in the digital economy and contacting with millions of creators around the world.
The Arab’s platform is providing a free minting or what is known as Lazy Minting through which all our users can share their creative works for free without any gas fees as a part of our plan to support all the Arabs to launch, buy and sell NFTs from safe NFT Marketplace.
The (CEO) and CO-Founder Ahmed Alsenan said “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.”
The NFTs market is still ambiguous for a lot of Arab audiences besides getting fraud and deceived by unsecure and spam platforms that work in the dark shadows so that’s why we aim to light up the green light for all our audiences by providing them with a safe environment in which they feel convenient to share their work and also to protect the uniqueness and copyrights of their work.
And the SkyQuest Technology said, That the Global Non-Fungible Tokens (NFTs) Market was valued at USD 15.70 Billion in 2021, and it is expected to reach USD 122.43 Billion by 2028, with a CAGR of 34.10 % during the forecast period of 2022 – 2028.
UPYO vision is also to spread awareness about the Metaverse universe, because right now all the huge companies are investing their efforts and capital in the Metaverse universe which is considered to generate up to $5 trillion in value by 2030. The metaverse will be the new era of interactions between people and it’s really growing as fast as we can’t imagine, so we need to be updated with all new digital aspects to cope with this revolutionary progress to Involve as a critical player in creating a better future to the humankind.