Sajwani is known for using expensive marketing strategies like handing out free Lamborghinis to property buyers. In 2013, he partnered with Donald Trump to open multiple Trump-branded golf courses in Dubai.
After a couple of disappointing years, the $2.1 billion corporations may be considering crypto as a method to garner some attention. In 2021, DAMAC reportedly had net revenues of $816 million, but a net loss of $144.6 million as a result of the global pandemic. The company had also lost $176 million the year before.
Will launch more crypto ventures
According to a statement released on Wednesday, the company would take $BTC and $ETH payments as well as enable the seller’s conversion to fiat currency if necessary.
DAMAC further stated that Dubai is “becoming a crypto hub” as a result of the government’s crypto-friendly policies and virtual asset licenses, citing leading exchanges like Bybit, Binance, and FTX Europe as examples. Kraken was also granted a license this week.
The company stated that it is eager to “fuel” Dubai’s goals by launching more crypto ventures.
In February, Sajwani mentioned that the corporation had big intentions to develop its own NFT-backed Metaverse platform.
“While most people use the term Metaverse in a general sense, we think it to be much more, and we’ve created a framework that allows physical and digital assets to be used in tandem.”
“We’ve come up with a solution to incorporate the different platforms under DAMAC into the metaverse, whether it’s real estate, fashion, or jewelry,” he stated.
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