DUBAI, United Arab Emirates – Tuesday, June 11, 2024 – Dubai’s Roads and Transport Authority (RTA) has partnered with SmartCrowd Holding Ltd., the parent company of SmartCrowd Ltd., to launch a groundbreaking blockchain-powered investment platform.1
This innovative initiative aims to attract investments through non-fungible tokens (NFTs) for real estate and public facilities planned by the RTA.
The platform will leverage blockchain technology to offer fractional ownership of these properties. Investors will be able to purchase NFTs representing shares in rest areas, including retail stores and service centers, allowing them to benefit from continuous investment returns.
This strategic partnership signifies Dubai’s continued commitment to technological advancements and its vision to be a global hub for innovation.
The collaboration between the RTA and SmartCrowd is expected to have a significant impact on Dubai’s economy by attracting new investment opportunities.
The partnership is expected to bring significant economic benefits to Dubai. By offering fractional ownership through NFTs, the platform unlocks new funding channels for the RTA, potentially expediting public facility development timelines.
This wider access to investment attracts a broader range of local and international participants to Dubai’s real estate market. Furthermore, SmartCrowd, a DFSA-licensed platform, prioritizes secure and transparent transactions.
Blockchain technology underpins the platform, offering a tamper-proof record of ownership for NFT investments, mitigating fraud risks. Additionally, investors benefit from clear and readily available information on their NFT holdings and potential returns.
The launch date for the NFT investment platform has not yet been announced.
- NFT Investment Platform: https://smartcrowd.ae/blog/news-press/invest-in-a-better-dubai-smartcrowd-partners-with-dubais-rta/[↩]
