The Alawad Fund, the first crypto fund in which the Royal Family of Dubai participated, was launched on March 26 (local time) in Dubai, attracting attention as a “Holy Land of Cryptocompanies.”
The fund was established as a joint venture between Dubai Royal Family Chairman Sheikh Alawad and CEO Jojo Jiang, and announced that it plans to invest heavily in promoting the crypto industry.
The first fund of the “Alawad Fund” is a total of 300 million dollars and will be operated with targets for quantum investment, virtual assets and blockchain-based start-up investments, cryptocurrency exchange investments and cultural content investments in cryptocurrencies with a focus on bitcoin mining. is expected.
MetaBitcoin (MBTC), which implements all Bitcoin ecosystems identically within the Metaverse ecosystem, was chosen as the first investment destination for the Alawad Fund.
At the fund-opening ceremony, Alawad Fund’s yo-yo said: “Bitcoin (BTC) is difficult to extract, there are many restrictions such as electricity bills and mines, and there are currently only 2 million mining volumes left. It has a high barrier to entry.” She said: “It is difficult to rise more than a dozen times in a short time from now, but on the other hand, Metabitcoin (MBTC) can be easily extracted by anyone, and Elon Musk said that Bitcoin causes environmental problems. It is also free of the question of being able to do that, she said.
She also stated, “Metabitcoin (MBTC) was chosen as the primary project of the Alawad Fund because of its low initial entry barrier and high evaluation of fairness that both project sites and users are beginning to extract fairly.”
MetaBitcoin (MBTC) was issued by Meta Satoshi Nakamoto, and has the same elements as Bitcoin, 21 million total supply, 4-year halving and mining compensation. can be purchased within.
MetaBitcoin started mining on May 3, and currently around 30,000 miners participate in mining. Also from 3 July, the upgraded miners from 500,000 to 2 million hash rates will be sold in three units.
Dubai, United Arab Emirates (UAE) has recently become known as a hub for virtual assets and blockchain-based startups. While the government attracts foreign talent through friendly policies at government level, many crypto companies like Binance flock to Dubai and appear as a “holy land for crypto companies”.
“Alawad Fund”, established with strong support from the Dubai royal family, is known in the blockchain by investing in promising projects with various key blockchain partners such as Binance, Bitmain, Huobi, Lbank, Bibox and Polygon. We aim to grow as a promising fund.
Dubai Royal Family Chairman Sheikh Alawad said at the Alawad Fund inauguration ceremony this day, “Dubai presents the friendliest business environment for blockchain companies. Alawad Fund was launched. Afterwards, he expressed hope that the slogan ‘Blockchain as the future of finance and Dubai as the future of blockchain companies »would become widely known around the world by actively investing and supporting promising projects together with various oil conglomerates.