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Decentraland Just Hosted The UAE’s First Metaverse Wedding

After the online ceremony, the couple held a metaverse afterparty where they interacted with those who joined and partied for hours.

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decentraland just hosted the uae's first metaverse wedding

When two people from different parts of the world decide to get married, they face many difficult challenges, and one of them is figuring out the logistics of getting their family and friends to attend the ceremony.

After all, plane tickets are not cheap, and not everyone is healthy enough to travel thousands of miles. Florian Ughetto and Liz Nunez, the owners of Easy Wedding Georgia, have come up with a truly cutting-edge solution: they decided to get married in the metaverse.

More specifically, the couple walked down the aisle in their own private Decentraland plot on May 19, accompanied by close family, friends, and select guests.

“We dreamt of flying in our family and friends from France and Paraguay to Dubai to attend our wedding. However, Covid and legal hurdles played spoilsport. That is when we decided to take things to the metaverse,” said Florian Ughetto.

During the wedding, their avatars were dressed in a black and brown suit and a white dress, both of which were purchased on OpenSea, the world’s largest NFT marketplace. As they exchanged their vows and said, “I do,” their guests were enjoying the ceremony from the comfort of their own homes using laptops and smartphones.

After the online ceremony, the couple held a metaverse afterparty where they interacted with those who joined and partied for hours.

Also Read: A Beginner’s Guide To Getting Started With NFTs

The biggest challenge Florian Ughetto and Liz Nunez faced when organizing the metaverse wedding was ensuring that everyone had a stable connection to the internet. To be extra safe, they had recorded backups of their vows at hand, but, fortunately, they were not needed.

The fact that people are already getting married in the metaverse even though the new iteration of the internet is still in its infancy goes to show just how huge its potential is, and it will be interesting to see what its impact on our lives will be a few years from now.

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Binance Receives Virtual Assets License To Operate In Dubai

As its user base nears 200 million, CEO Richard Teng believes crypto adoption will soar over the next half of the decade.

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binance receives virtual assets license to operate in dubai

Global crypto exchange Binance has been granted a full operational license in Dubai, in a move that’s expected to accelerate digital asset adoption and strengthen the UAE’s regulatory landscape.

The virtual asset service provider license (VASP) was granted by the Dubai Virtual Assets Regulatory Authority (VARA) and will allow Binance to extend its current range of services to retail investors, the company announced yesterday.

The move by Dubai authorities will be critical to Binance’s strategy of growing its user base globally. The crypto exchange expects to pass the 200 million user mark “quite shortly”, according to Richard Teng, the company’s CEO.

Once that milestone is achieved, Binance will have around twice as many users as rival platform Coinbase. Meanwhile, Crypto.com, another popular exchange with 80 million users, received a Dubai VASP license last week.

“We’re seeing much greater institutional adoption and institutional money coming into this space [along with] much greater regulatory clarity and a lot more jurisdictions approving [digital asset] products that bring in new investor classes,” Binance’s Richard Tang explained, adding: “As of now, we stand at about 5% crypto adoption globally, but that will become much faster moving forward”.

Also Read: Microsoft Invests $1.5 Billion In Abu Dhabi AI Tech Firm G42

Dubai and the UAE are extremely supportive of technologies like digital assets, and have already launched initiatives to boost adoption. The UAE has ambitious plans to become a world leader in the crypto economy of the future, with Dubai in particular being noteworthy for passing a new law to regulate virtual assets to support investors and exchanges.

“Global crypto regulation is currently showing diverging signs. Some developed countries have long suffered from crypto-related frauds and illegal exchanges. On the other hand, emerging nations like the UAE and Singapore have enacted crypto laws at faced pace,” said Vijay Valecha, chief investment officer of Dubai-based Century Financial.

As the UAE gears up to become one of the fastest-growing crypto capitals worldwide, investors and talent are flocking to places like Dubai. During 2023, the Emirates as a whole realized $204 million in capital gains from cryptocurrency investments, according to blockchain data analysts Chainalysis.

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