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Real life NFT marketplace is a hit at Art Dubai – Business 2 Community

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Real NFT Marketplace Art DubaiReal NFT Marketplace Art Dubai
The 15th annual Art Dubai fair included the debut of ‘Art Dubai Digital’, a real-life marketplace for non-fungible tokens and digital art.
The biggest art fair in the United Arab Emirates, World Art Dubai took place from March 16 – 19th and by hosting its inaugural NFT exhibition platform this year it saw record attendance and sales across the event.
30,000 visitors attended Art Dubai 2022, with many tourists flying into the UAE to see the over 120 artistic presentations across 104 galleries and other platforms representing 44 countries.
Most NFTs are bought and sold at online NFT marketplaces like Opensea or occasionally at physical auction houses like Sotheby’s or Christie’s.
Real-life NFT exhibitions in terms of a gallery the public can walk around and view digital art and NFTs represented in physical form are relatively rare, and increasingly in popular demand.
Dubai-based Arabic news channel Al Arabiya interviewed Pablo del Val, artistic director at Art Dubai:
The response from audiences and collectors to the debut edition of Art Dubai Digital has been truly incredible. Art Dubai prides itself on being a fair of innovation and forward-thinking, and there was a real freshness and energy to the 2022 edition across the whole program. This was without doubt one of the most successful editions of Art Dubai, in terms of both visitors and sales reported, reflecting Dubai’s position as an engine of global growth.
Cryptocurrency exchange Bybit was involved in setting up the physical NFT marketplace for Art Dubai and helping it be a success.
Head of communications at Bybit exchange Igneus Terrenus also spoke to Al Arabiya:
The new section dedicated to digital art gave a voice to emerging artists and market participants, many of whom are first-timers at an international art fair.
The mainstreaming of NFTs gives artists another way to reach their audience and get recognized and rewarded for their creations.
It offers verifiable ownership validated on the blockchain – a way for NFT holders to truly own a piece of culture they feel a connection to and back an artist without navigating the complexity of the conventional art trading market.
This is a new supply chain that goes on to contribute to world-building in the metaverse. We see NFT solutions to be part of the infrastructure layer of Web 3.
Many crypto traders, NFT investors and other digital nomads have made a home in Dubai as it currently has a zero percent personal income tax.
Several crypto platforms have launched dedicated NFT marketplaces – Bybit has one and we reviewed Crypto.com’s marketplace – and recently an NFT patron program was announced by eToro.


Cryptoassets are a highly volatile unregulated investment product.
  This article was written for Business 2 Community by Matt Williams.
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NFT

FASB Excludes NFTs, Some Stablecoins From Crypto Accounting Project – The Wall Street Journal

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Michael Saylor can't stop: MicroStrategy now holds 130,000 Bitcoin – Cointelegraph

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MicroStrategy bought an additional 301 BTC for $6 million at an average price of $19,851, the company’s executive chairman announced on Twitter.
MicroStrategy now owns 0.62% of all the Bitcoin (BTC) that will ever be mined. The company’s executive chairman, Michael Saylor, announced that the company bought another 301 BTC for roughly $6 million at an average price of $19,851 per BTC. 
In sum, the company is one of the planet’s largest holders of the asset, owning 130,000 BTC. Apparently, Saylor likes round numbers, buying 301 BTC to reach the 130,000 milestone. 
MicroStrategy has purchased an additional 301 bitcoins for ~$6.0 million at an average price of ~$19,851 per #bitcoin. As of 9/19/22 @MicroStrategy holds ~130,000 bitcoins acquired for ~$3.98 billion at an average price of ~$30,639 per bitcoin.https://t.co/5kYW98ij4I
Due to plunging price action, the company’s investment is down substantially in U.S. dollar terms. MicroStrategy’s entry price is roughly $30,639 per BTC, and the Securities and Exchange Commission filing states that the firm has bought 130,000 BTC at an aggregate purchase price of approximately $3.98 billion.
If MicroStrategy started stacking sats (buying Bitcoin) at today’s prices, it would have spent $2.48 billion on 130,000 BTC. Saylor is currently at a paper loss of over a billion dollars.
According to the SEC filing, the company made the purchase with “excess cash.” Saylor recently stepped down as CEO of the company to focus on buying more Bitcoin, while Washington, DC has taken aim at the billionaire in a tax evasion lawsuit.
Bitcoin enthusiasts were quick to commend Saylor’s buy. Referred to as the “Chad” or “Gigachad,” Saylor’s conviction and commitment to buying Bitcoin despite the investment being underwater has garnered both a devout following and numerous critics.
Related: Bitcoin better than physical property for regular folks, says Michael Saylor
Other large wallet addresses include that of crypto exchange Bitfinex, which holds 170,000 BTC, and a Binance reserve wallet that holds 125,000 BTC. Binance is the world’s largest crypto exchange and has several wallets holding six figures of Bitcoin. Regarding individuals, Saylor has stated that he holds Bitcoin, and FTX CEO Sam Bankman-Fried and Binance CEO Changpeng Zhao are also “hodlers” — a meme that became popular jargon for holding crypto.

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NFT Collections Will Be Regulated Like Cryptocurrencies Under EU’s MiCA Law, Official Says – CoinDesk

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