RIYADH: Dubai-based Non-Fungible Token platform UPYO has secured $1 million in a seed funding round led by angel investors.
The platform will use its acquired funding to launch a service providing the Arab region with a market to trade NFTs, according to MAGNiTT.
“The NFT market in Saudi Arabia and the MENA (Middle East and North Africa) region is still nascent. People are still discovering the NFT experience. So, we wanted to be their gateway to this amazing digital economy,” co-founder of UPYO, Ahmed Alsenan, said in a statement.
The company’s vision is to educate and empower the digital economy through their platform as well as spread awareness about the Metaverse.