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A Non-Fungible Token (NFT) is essentially a digital asset that is verifiable on blockchain technology. The road towards digitalizing the economy for the GCC countries crosses path with the development of DeFi (decentralized finance) which is an emerging financial technology based on the blockchain. While the other parts of the world grow on skepticism around private digital assets, all eyes are turning to the GCC region for blockchain and digital asset innovation. The report captures the recent trends and developing scope of NFTs, with special emphasis on the GCC region.
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