At the heart of this initiative is a community-driven competition model that transforms traditional mining into a more engaging and rewarding experience. Unlike conventional mining structures that offer fragmented payouts, the model will reward participants based on each newly mined Bitcoin block, bringing back the excitement and fairness of early Bitcoin mining.

Rami Alsridi, Founder and CEO, Mining Grid said, “Our goal is to bring back the original vision of Bitcoin—a decentralized system where individuals can actively participate and benefit fairly. Our model ensures that individual miners have a real chance to win meaningful rewards, making mining more engaging and financially rewarding.”

This model provides an accessible and cost-effective entry point for individuals looking to participate in Bitcoin mining. By restoring fairness and decentralization to mining rewards, it fosters a global network where participants compete and collaborate, enhancing engagement while promoting sustainability and inclusivity.

Solaiman Al-Rifai, Founder and Board Member, Mining Grid said, “With over 50,000 app users, the demand for fair and competitive Bitcoin mining solutions is clear. This launch builds on the success of Mining Race and further strengthens our commitment to innovation and accessibility in the mining space.”

With Bitcoin’s mining difficulty reaching record highs and institutional players dominating the landscape, Cores Racing represents a transformative step in making mining more inclusive, rewarding, and competitive. Mining Grid continues to drive innovation as the industry evolves, ensuring that Bitcoin’s core principles of decentralisation and fairness remain at the forefront.

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Sigma Capital Fund I will focus on early-stage venture investments in transformative areas such as DeFi, Blockchain infrastructure, Real-world asset tokenization, Gaming and the Metaverse. In addition, and as part of the Fund, Sigma Capital will actively manage a portfolio of liquid tokens, seizing market opportunities to generate consistent returns.

Sigma Capital will also leverage high-yield DeFi strategies to optimize the Fund’s portfolio performance and will invest in high growth crypto venture funds that broaden the Fund’s exposure to emerging Web3 innovations.

Vineet Budki, a recognized leader in the Web3 space, will lead Sigma Capital as CEO & Managing Partner and will be the Fund’s lead Portfolio Manager. As the former CEO and Managing Partner at Cypher Capital, another leading Web3-native early-stage venture asset manager based in the UAE, Vineet spearheaded over 300+ investments in leading ventures across DeFi, gaming, and infrastructure, including Mysten Labs, Sei Network, Casper Labs, Web3Auth, Manta Network, Mocaverse, Peak Network and MyPetHooligan.

The Sigma Capital Investment Team has years of investment experience in the Blockchain space and has already invested or partnered with multiple reputed Blockchain players such as Polygon Technology, Morningstar Ventures, Blockchain Founders Fund, Woodstock Fund and many others.

Vineet Budki, said: “We envision a digital economy that is more open, inclusive, and innovative. The UAE’s dynamic economy and forward-thinking regulatory environment provide the perfect backdrop for Web3’s next wave of innovation. Sigma Capital Fund I will empower startups with capital, equip them with access to Sigma Capital’s extensive network and investment expertise, and will enable them to thrive in the rapidly evolving Web3 landscape”.

Sandeep Naliwal, Founder of Polygon Technology, one of the leading players in the Blockchain space, commented on the Fund announcement – “Vineet’s track record, as a visionary leader in Web3, speaks for itself. His deep understanding of market dynamics and foresight in nurturing high-impact projects has been pivotal in advancing the Web3 ecosystem. The launch of Sigma Capital’s $100 million fund is a testament to Vineet’s expertise and to the UAE’s emergence as a global hub for Blockchain innovation. I have no doubt this Fund will catalyze the next wave of groundbreaking startups and solidify the region’s role in the decentralized economy.”

Sigma Capital plans to deploy the Fund’s investments across 100 early-stage projects, 25 liquid tokens, and 10 fund-of-funds allocations over the next three years. The Firm’s strategic edge lies in its proven expertise and global reach, leveraging its network to provide access to key exchanges, market makers, launchpads and opinion leaders.

Sigma Capital will also collaborate with Web3 hubs across 10 global cities, providing the Fund’s portfolio companies with deep market insights and comprehensive support to enable success in a competitive market. By combining a diversified portfolio with deep market access, Sigma Capital will drive sustainable growth in both the Global and GCC Web3 ecosystem.

Sigma Capital’s presence in Dubai, Singapore and the Cayman Islands ensures access to global opportunities while maintaining a strong compliance framework.

Sigma Capital’s $100 million fund launch underscores the UAE’s growing importance as a global epicenter for Web3 & Blockchain innovation and institutional capital flows. The Firm’s commitment to empowering startups aligns well with the UAE’s strategic vision to lead the decentralized economy, paving the way for the region to become a hub for transformative technologies in financial innovation.

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This year’s event highlights included a series of keynote addresses and panel discussions featuring distinguished speakers. Fastex CEO Vakhtang Abrahamyan shared insights into the company’s latest advancements within its Web3 ecosystem, including the launch of its PoSA (Proof of Stake and Activity) consensus mechanism, which is set to redefine scalability and security for blockchain networks.

Vakhtang Abrahamyan said: “Our journey with Harmony Meetup VI is a testament to the power of collaboration and innovation in the Web3 space. This event reflected our commitment to fostering a vibrant ecosystem where thought leaders, innovators, and industry stakeholders came together to address blockchain technology’s most pressing challenges and opportunities. By facilitating meaningful conversations and showcasing groundbreaking advancements, we aimed to create a platform that drives progress and empowers communities to harness the full potential of decentralised systems. Harmony Meetup VI was a pivotal step in shaping the future of blockchain in the MENA region and establishing a global benchmark for innovation and collaboration in Web3.”

Among the many panel discussions that took place was ‘Unlocking Blockchain’s Potential: Strategic Leadership in Custody, Regulation, and Innovation,’ moderated by CoinDesk writer and podcast host Jeff Wilser. The panel included prominent experts, such as Gerry Afentakis, Head of European and MENA Sales at Zodia Custody; Tim Chen, Partner at Novo Capital; Karl Tlais, Founder of iAdvisory; Igor Arkhypenko, CTO of Dubai Blockchain Centre; and Vakhtang Abrahamyan, Fastex CEO. This discussion addressed critical topics, including blockchain’s role in fostering secure custody solutions, navigating evolving regulatory landscapes, and the intersection of innovation and compliance. Emerging digital identity, gaming, and art NFTs trends also took centre stage, emphasising the vast opportunities within the decentralised ecosystem.

Additionally, Harmony Meetup VI showcased the latest developments in the Bahamut blockchain’s financial ecosystem. These initiatives reflect Fastex’s dedication to empowering users and businesses with cutting-edge tools for navigating the decentralised world.

Fastex has solidified its reputation as a leader in Web3 innovation with recent milestones, including regulatory approval from Dubai’s Virtual Assets Regulatory Authority (VARA) and the launch of a new office in Dubai World Trade Centre’s One Central. These developments underscore the company’s commitment to advancing the digital economy while reinforcing the UAE’s role as a global hub for blockchain and digital assets.

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This collaboration will integrate blockchain-powered solutions through Fils’ use of the Layer-1 blockchain, ensuring transparency, traceability, and trust in every transaction, creating a seamless way for customers to measure and offset the carbon footprint of their digital asset purchases, supporting regional institutions and fintechs in meeting sustainability goals while navigating the growing demand for digital assets, and to lead in sustainability by aligning with global ESG goals.

The importance of this initiative is also underscored by the UAE’s rapidly growing digital assets market, which is projected to generate $453 million in revenue by the end of 2024, with further growth expected to surpass $616 million by 2028.

Nameer Khan, Founder and CEO of Fils, commented: “Our partnership with Fuze represents a milestone for both fintech and sustainability in the region. By embedding climate action directly into the digital assets ecosystem and leveraging the power of our blockchain technology, we’re providing the most comprehensive and first-of-its-kind solution that not only meets but exceeds global ESG expectations. This partnership underlines the growing importance of aligning financial innovation with environmental responsibility. Together, we are building the rails for a future where every transaction contributes to a greener planet, demonstrating how fintech can lead the charge in achieving net-zero goals.”

Mohammed Ali Yusuf (Mo Ali Yusuf), Co-Founder and CEO of Fuze, shared: “Our partnership with Fils underscores Fuze’s commitment to innovation and responsibility. As digital assets become a mainstay for financial institutions, embedding sustainability in these transactions is essential for long-term growth and environmental stewardship. Together with Fils, we’re setting a new standard for green finance in the region.”

Strategic Impact
This partnership includes the following initiatives:

• Carbon Footprint Insights: Providing real-time data on the environmental impact of digital asset transactions, empowering customers to make informed decisions.
• Offsetting Mechanisms: Enabling customers to offset the carbon footprint of their transactions seamlessly, fostering climate-positive actions.
• Ecosystem Support: Helping banks and fintechs across the region adopt sustainable practices, aligning with global ESG (Environmental, Social, Governance) standards.

The collaboration between Fuze and Fils reflects a shared vision for responsible innovation. By integrating sustainability into digital assets, the partnership supports businesses in achieving both financial and environmental goals, paving the way for a greener economy.

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Greengage will bring its expertise and insights from its pioneering work on blockchain and ESG alignment to collaborate with fellow signatories to advance energy-efficient and renewable-focused initiatives. The company will focus on increasing transparency in digital assets to ensure verifiable sustainable practices, fostering trust, and supporting ESG compliance and sustainable regulation and policy. 

Sean Kiernan, CEO of Greengage, commented, “We are proud to join the Abu Dhabi Sustainable Finance Declaration, alongside esteemed signatories like our partners at Zumo. Our commitment to long-term client relationships aligns seamlessly with sustainable business practices, reflecting Greengage’s brand mission to promote ‘green’ growth and environmental responsibility, with a clear focus on sustainability as our core ‘gage’ for collateral.” 

Leveraging blockchain technology, the Hub71-based startup aims to drive efficiencies in carbon markets and offer SME clients access to carbon credit opportunities for meeting Scope 3 targets while supporting initiatives that make the industry, particularly bitcoin mining, more energy-efficient through advanced technology and investments in clean energy cryptocurrencies. Greengage is also dedicated to increasing transparency to ensure that sustainable practices in digital assets are real and verifiable, which will help build trust and ensure ESG compliance. To date, Greengage supports the Blue Carbon Gold project, which tokenizes blue carbon initiatives that capture carbon in coastal ecosystems, such as UAE mangroves, which are high impact assets. 

The Abu Dhabi Sustainable Finance Declaration, is a voluntary, membership-based initiative launched by Abu Dhabi Global Market (ADGM) and endorsed by the Ministry of Climate Change and Environment, the Central Bank, and the Securities and Commodities Authority. Over 135 organisations, including Greengage, have signed the declaration, committing to integrate ESG considerations into their business models, products, and investments. 

Although non-binding, the declaration connects members with ESG stakeholders in Abu Dhabi and supports the creation of a vibrant sustainable finance hub for capital formation, raising, and deployment.

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The Mining Race is a global program designed to empower the community to actively participate in the primary mining market, contributing to the decentralised blockchain network. This innovative platform offers access to mining opportunities and fosters awareness and education about Bitcoin (BTC) and cryptocurrency adoption. The Mining Race awarded the highest achievers within its community, celebrating innovation, success, and teamwork. Additionally, Mining Grid’s newly launched showroom in Dubai will serve as a hub for crypto enthusiasts to explore the latest technologies – providing hands-on demonstrations of advanced mining equipment.

At the event, which welcomed guests from over 50 countries, Mining Grid emphasised the growing prominence of crypto and blockchain technology globally. Crypto, especially BTC, has seen increasing adoption as a trusted financial system, with experts projecting that up to 25% of global money supply transactions could transition to digital form in the near future. Blockchain’s transformative power lies in its ability to eliminate traditional intermediaries, decentralising financial transactions and allowing individuals and businesses to verify and process transactions independently.

The UAE continues to be a major player in the blockchain and crypto space, positioning itself as a key hub for technological innovation. With Dubai’s strategic vision and progressive regulatory environment, the country has become an attractive destination for blockchain-based businesses and investments.

Solaiman Al-Rifai, Founder and Board Member, Mining Grid said, “Mining Grid’s initiatives, such as the Mining Race and the new showroom, are aligned with the growing movement toward widespread Bitcoin adoption and the blockchain’s potential to reshape industries. As more businesses and individuals embrace the power of decentralisation, the future of finance is poised for a digital transformation.”

Rami Alsridi, Founder and CEO, Mining Grid said, “Bitcoin has grown from just a few cents to a market cap of $1.3 trillion, connecting communities worldwide. Through the Mining Race, we aim to unite the crypto community and build a stronger, decentralised future.”

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Unique to the ICP, the SNS model allows protocols to become fully decentralized by turning into Decentralized Autonomous Organizations (DAOs). On a high level, an SNS DAO governs a decentralized application (dapp), deciding on the code of that dapp and how it is evolved.

On the Internet Computer this can also include the dapp’s data and frontend. Each SNS community can also choose its own unique tokenomics and governance rules by parameters that can be set for each SNS DAO. This way developers can hand over the control of their protocols to their communities, allowing users to freely propose and vote on all changes made to a dapp.

To initiate this process of decentralization, community members need to commit ICP tokens to projects’ SNS proposals via so-called decentralization swaps. This way users committed over 6.5M ICP — or nearly $80M — to dapps in the ICP ecosystem in 2023, enabling these projects to become fully community-governed.

Among these dApps are decentralized messenger OpenChat, Neopets’ spiritual successor Dragginz, blockchain-native search engine Kinic, “Web3 TikTok” Hot ot Not, the first ICP memecoin Ghost, decentralized “verification as a service” platform Modclub, fully on-chain gaming-focused BOOM DAO, innovative social app Catalyze, and others.

Notably, the report also showed tremendous growth in gaming activity, free from the high gas fees and limited scalability of traditional platforms. For example, Dragginz, launched by the creators of Neopets, has already grown to a community-driven market cap of over $8 million by offering an immersive world where every aspect of the gameplay is built directly on the blockchain.

“The success of the SNS framework has been a big win for decentralized governance worldwide, and through its innovative tech stack and multiple network integrations, the ICP is unlocking access to a seamless, trustless multichain future for Web3,” noted Lomesh Dutta, Vice President of Growth at DFINITY.

Additionally, DFINITY distributed $6.25 million in ecosystem grants to 239 projects spanning 41 countries in 2023. This Developer Grants Program aims to catalyze the growth of the Internet Computer ecosystem and make the ecosystem accessible and approachable to more developers around the world by providing support to promising teams.

Among the grantees were protocols such as new multi-chain DeFi solution IC Lighthouse, self-custodial identity provider and key management protocol NFID, data processing layer Chainsight, decentralized data oracle provider Orally, decentralized multi-chain and multi-owner wallet B3Pay, groundbreaking hybrid spot orderbook decentralized exchange Helix Markets, retail Bitcoin mining-focused platform Loka Mining, and many others.

The IC network usage also increased by 121% over the past year broadly across most subnets, suggesting a constant ecosystem-wide growth.

A full copy of the Internet Computer’s State of the Network report is available here:

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Outer Edge, historically based in LA and now expanding to the Middle East, is known for hosting memorable events and presenting invaluable networking opportunities for founders, builders, and venture capitalists in emerging technologies.

 The Saudi Arabia tech revolution has already made major strides in developing various industries as the country builds a solid ecosystem for digital entrepreneurship. Saudi Arabia is focusing on enhancing its technology sector in line with the Saudi Vision 2030 plan, as businesses continue to invest in new tech such as AI, blockchain, VR, AR, and the Internet of Things.

Outer Edge Riyadh, a partnership between Edge of Company and Animoca Brands, presented by King Abdulaziz City for Science and Technology (KACST), comes at a pivotal moment during the growth of the blockchain sphere. The partnership aims to bring together industry leaders, experts, creatives and more to Riyadh’s innovation district, The Garage, a technology hub for local and international startups. KACST’s strategic partnership with Animoca Brands includes plans for the development of a physical Web3 hub in Riyadh to enhance research and development efforts within the fields of Web3, blockchain, gaming, AI, as well as providing bespoke educational programs.

Mohammad Hadhrawi, general manager of the Gaming and Immersive Technologies Institute at KACST, notes: “At KACST’s Gaming and Immersive Technologies Institute, we are dedicated to advancing the frontiers of R&D in gaming and immersive technologies. Our efforts are aligned with the national vision and strategies, aiming to foster an innovative ecosystem that nurtures creativity, technological advancement, and economic diversification. By spearheading projects that leverage web3, AI, and immersive experiences, we aim to impact the global technology landscape and equip our nation with the skills and opportunities to excel in these fields. Our commitment is to deliver tangible outcomes that contribute to the Kingdom’s position as a leader in the economies of the future (a key priority area for the kingdom), ensuring a sustainable and prosperous future for all.”

Joshua Kriger, Outer Edge co-founder and co-host of Edge of NFT and Edge of AI podcasts, said: “When we started Outer Edge LA, the intent was always to catalyze innovation globally.  We are thrilled to take the concept of co-creation, connection and community abroad to the Kingdom of Saudi Arabia and unite regional and global leaders in Web3, AI, and gaming. Our unique format cultivates long-term collaboration opportunities at the intersection of culture, entertainment, and technology.”

Taking place on 23 April at The Garage in the center of the city, Outer Edge Riyadh will bring together industry leaders, creatives, visionaries, entrepreneurs, and investors for an experience that threads together education and entertainment, to explore beyond the implications of decentralised Web3 and AI technology on society. Topics will include smart cities, gaming, esports, art, culture and more.

Notable speakers at Outer Edge Riyadh will include Yat Siu, co-founder and executive chairman ofAnimoca Brands; Calvin Zhou, co-founder of Shrapnel, a venture backed UGC; Salwa Radwi, founder of ‘Nuqtah’, the first Saudi NFT Marketplace; Vatom founder and CEO Eric Pulier; Amanda Cassat, founder and CEO of Serotonin; Cole Damon, CEO of AG Esports Global; Yasser N Al Obaidan, chairman of Jawraa; and Sebastien Borget, co-founder and COO of The Sandbox.

Yat Siu, the co-founder, and executive chairman of Animoca Brands, commented: “Through our partnership with Outer Edge Riyadh we are honoured to help support the MENA region’s progress toward fully harnessing the power of Web3 and blockchain. Global leaders at Outer Edge Riyadh will gather to engage in spirited discussions, forge valuable partnerships, create new opportunities, and mobilize on a variety of topics ranging from revolutionizing smart cities to redefining finance and entertainment.”

Audience members at Outer Edge Riyadh will be able to stay ahead of the curve and experience first-hand the gateway to the future in a fully immersive and exclusive experience shaping tomorrow’s innovations in decentralized technology. The event is expecting attendance from some of the Kingdom’s industry leaders, government officials from across MENA, influential investors, and many others.

Interested individuals can find more information and apply to participate in this exclusive invite-only event athttps://www.outeredge.live/riyadh.

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Blockchain Life 2024, the 12th international forum on web3, cryptocurrencies and mining, will be held at Festival Arena, Dubai’s premier event space located in the iconic Dubai Festival City. The arena has been expanded to over 7,200 sq meters. It promises to be a premier venue to access and reap the benefits of the recent Bull run dominating the crypto industry.

The increased space will accommodate over 8000 attendees from over 120 countries and over 150 booths from various web3, blockchain, and Crypto leaders. The event will also feature over 160 speakers set to present insight into trends and expected industry shifts into the upcoming bull run and beyond. Attendees, representing diverse stakeholders, encompass 67% investors/funders, 34% crypto traders, 31% entrepreneurs, 30% developers, 29% miners, 26% service providers, and 24% startups. Delegates from 120 countries will attend the event, including the UAE, Russia, USA, Germany, UK, India, China, Canada, and France.

Attendees can also look forward to Blockchain Life Week, which will take place from April 13 to 21, 2024. The week-long event will help attendees gear up for the upcoming Bull Run with exciting side networking parties and events.

Mohammad Alblooshi (CEO of DIFC Innovation Hub), Dr. Sameer Al Ansari (CEO of RAK Digital Assets Oasis), Amin Siala (Senior Growth Consultant at Google), Yat Siu (Co-Founder and Executive Chairman of Animoca Brands), Vineet Budki (CEO & Managing Partner at Cypher Capital), Rajat Sakhuja (Blockchain and Digital Assets Manager at Mastercard), Matthias Sheikh Mende (Co-Founder of Dubai Blockchain Center) and Dmitry Fedotov (Head of DLT Foundations at Abu Dhabi Global Markets (ADGM) are among the confirmed speakers.

Additional details on Blockchain Life 2024: https://blockchain-life.com/asia/en/

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Held at the prestigious JW Marriot Hotel, Marina, the event emerges as the focal point for innovators to play a central role in establishing Dubai as the blockchain capital of the MENA region. With the implementation of key initiatives such as the Dubai Blockchain Strategy, Dubai Metaverse Strategy, the launch of the Dubai Blockchain Platform and Virtual Assets Regulatory Authority (VARA), Dubai is becoming the hotspot for blockchain and web3 innovations.

#WBSDubai is set to deliver compelling keynote speeches, illuminating use-case studies presentations by top blockchain visionaries and experts, and thought-provoking panel discussions covering pivotal topics that are currently shape the blockchain landscape. Some of the topics that will be discussed at the event include:

• 2024 Blockchain Ecosystem Market Analysis
• Exploring DeFi Trends: From Hype to Reality
• The rise of AI-Blockchain integration and more.

Some of the top speakers at event are:

• Pascal Gauthier, CEO & Chairman, Ledger
• Bertrand Levy, VP Global Licensing, SANDBOX
• David Siemer, CEO, Wave Digital Assets
• Rifad Mahasneh, GM MENA @ OKX
• Talal Tabbaa, CEO, CoinMENA
• Dmitry Fedotov, Head of DLT Protocol, ADGM
• Richard Muirhead, Co-Founder & Managing, Fabric Ventures
• George Gvazava, Chief Crypto Officer, Bank of Georgia.

Reflecting on past events, speakers like Sandeep Naliwal (Co-Founder, Polygon), Charles Hoskinson (CEO & Founder, Input Output Global), and Frederik Gregaard (CEO, Cardano Foundation) have significantly shaped #WBS into a premier industry platform.

Sharing their thoughts, Frederik Gregaard, CEO, Cardano Foundation, said,” The World Blockchain Summit, Dubai, was a truly dynamic and diverse event that left a positive impression, making me inclined to attend again.”

Sandeep Nailwal, Co-Founder, Polygon Labs, expressed, “The experience was good. It’s good to meet the community, builders with new ideas. That’s my purpose of coming to these events.”

The summit will unite over 2,000 decision-makers in the web3 space and showcase the regional finale of the Startup World Cup, orchestrated by the globally acclaimed U.S.-based venture capital firm, Pegasus Ventures. This unique event also provides the winner with the exceptional opportunity to present at the global finals hosted in San Francisco, with a chance to secure a substantial US$1 million in funding.

“Dubai stands as a global innovation and technology hub, at the forefront of adopting essential blockchain solutions that will drive global economy forward. The World Blockchain Summit is the perfect platform for top blockchain authorities and experts to share their insights and groundbreaking innovations, reshaping the very essence of the blockchain landscape,” notes Sharath Kumar, Director- Business Unit, Trescon.

Registration for the World Blockchain Summit Dubai is officially open! Seize the chance to secure your early bird tickets today and prepare to immerse yourself in one of the most thrilling blockchain and crypto events of the year. Don’t miss out!

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