Gulf Business enters non-fungible token space, launches GB Crypto NFT

Motivate Media Group, the region’s leading media house, and Gulf Business, UAE’s leading business publication, have announced the launch of the Gulf Business Crypto (GB Crypto) magazine. The magazine was launched at Gitex Global, the region’s largest technology event, on October 10.

The Gulf Business Crypto magazine published in association with Crypto Oasis, one of the fastest-growing blockchain ecosystems in the region, focuses on the key trends and factors dominating the current Web3 landscape. It also focuses on technologies such as blockchain and metaverse, which are becoming mainstream.

Gulf Business has also for the first time entered the non-fungible token (NFT) space by making the GB Crypto magazine available in the form of an NFT.

Manish Chopra, publisher of Gulf Business, said: “Gulf Business has always prided itself on being a pioneer in the media-tech space. The “Gulf Business Magazine NFT” is a one-of-a-kind innovation that propels the entire traditional print industry into the Web3 space. This NFT signifies that the merger of traditional mediums like print with Web3 can redefine how the medium communicates with the end users. The Web3 space is changing how we view, value, and consume media and we are excited to be at the heart of this change. We are thrilled to announce that the NFT will be unveiled at GITEX, where we will be giving out whopping 10,000 tokens. Do visit the Gulf Business stall, we look forward to seeing you.”

In order to achieve this initiative, Gulf Business has partnered with Virtua, a prominent NFT platform.

“Recent years have seen the use of NFTs become more popular as it becomes clearer that the technology can be applied to a number of different industries, including sports, entertainment, media and the financial sector. We are extremely proud and grateful to have been able to launch the Gulf Business’ first ever NFT in association with Virtua,” commented Andrew Wingrove, group director, Motivate Media Group.

Jawad Ashraf, founder and CEO of Virtua, said: “It has been an amazing journey with Gulf Business to make a fully interactive NFT magazine. We believe this is the best showcase to celebrate Gitex and the UAE. What better place to highlight the way publishing of the future can happen on the blockchain?”