Dubai: The largest NFT and Web 3.0 community in the Middle East, Arts DAO, has collaborated with Ledger, the world’s leading source of digital storage for cryptocurrencies, to offer hard wallet solutions to UAE Arts DAO members.
In order to develop secure solutions for blockchain applications, eight specialists with complementary backgrounds in embedded security, cryptocurrency, and entrepreneurship founded Ledger in 2014. More than 800 people work for Ledger SAS and its affiliates in Paris, Vierzon, New York, Zurich, and Singapore.
It is the leading secure gateway for digital assets. Originally founded in France, Ledger has sold more than 5 million devices to international customers in 200 different countries and is responsible for securing 20 percent of all crypto assets stored globally as of today.
100 Ledger NFTs, the first Ledger NFTs ever released, were part of a limited-edition collection created by Arts DAO to honor this groundbreaking partnership. Additionally, Arts DAO provided community members with branded ledgers, allowing NFT owners to claim a physical Ledger hard wallet.
“Ledgers are a so-called ‘cold storage’ solution, People are always looking for safer places to store their cryptocurrency, and thanks to decentralized finance, anyone with a cold storage wallet may basically act as their own bank. This is crucial considering recent market volatility in the cryptocurrency space as well as future-defining events like the FTX collapse.” remarked Mr. Danosch Zahedi, Co-Founder of Arts DAO.
Dubai launched a proposal in 2016 to have a fully digital government by 2021. Dubai established the Global Blockchain Council as part of that endeavour. Banks, IT companies, and government organizations make up the objective of integrating technology into all aspects of the city administration. Today, blockchain is used to underpin every aspect of life, including security, transportation, and health.
The UAEs’ zero-corporate tax policies have long been favoured by cryptocurrency entrepreneurs. They have also benefited from the fact that any revenue earned in the city, whether in the emirate or elsewhere, is tax-free for its inhabitants. Cryptocurrency traders are exempt from paying taxes on any profits they make since blockchain bullions are treated like any other type of property.