Dubai’s rapid growth in the blockchain industry was on full display at the Token2049 conference, where Fastex showcased its innovative Web3 services. The conference, held in April 2024, brought together over 4,000 companies and industry leaders to discuss the future of Web3 in the crypto ecosystem.
Fastex, a fast-growing Web3 ecosystem built on the Bahamut blockchain, stood out at Token2049 with its comprehensive range of products and applications. These include the Fastex Exchange, Fastex Wallet, Fastex Card, Fastexverse, and ftNFT platforms. Fastex also showcased specialized services like white-label centralized exchanges, white-label NFT marketplaces, and Fan Token Development Services tailored for the iGaming industry.
One of Fastex’s key innovations in the metaverse space is the Fastexverse, a dedicated virtual world where users can create their own metaverse spaces and launch virtual businesses. They can showcase products, display artworks, and host events using various tools and integrations. This accessibility allows users to easily buy and sell NFTs within the metaverse, as well as access other Fastex products such as the Fastex Exchange and FastexPay.
In addition to its virtual world initiatives, Fastex is also working on creating virtual replicas of real-world cities within the metaverse through its Cerebrum Virtual City project. This platform enables businesses to establish virtual versions of their physical offices or stores, interact with customers and partners in new ways, and provide round-the-clock customer support using avatar employees and AI.
During Token2049, Fastex also highlighted the Bahamut Chain, a blockchain network based in the United Arab Emirates that utilizes the proof-of-stake-and-activity (PoSA) consensus mechanism. This mechanism enhances the security and efficiency of the Fastex ecosystem, making it ideal for Web3 businesses and users. The Bahamut Chain supports a wide range of applications, from DeFi platforms to NFT marketplaces, and incentivizes active participation from network validators.
A standout feature of Fastex’s Web3 efforts is the ftNFT experience centers, physical locations in Dubai, Venice, and Yerevan where visitors can physically engage with NFT galleries and create avatars using the in-store 3D scanner. These centers provide a unique “phygital” experience that merges the digital and physical worlds.
Aside from its participation in Token2049, Fastex is also hosting the ftNFT International Awards, which aims to showcase Dubai’s growing role as an innovation center for Web3 and NFTs.
Vardan Khachatryan, the chief legal officer at Fastex, expressed his belief that the company will become a leader in the industry, offering a wide range of services to meet the needs of users in the cryptocurrency and decentralized services space. He emphasized the importance of events like Token2049 in solidifying Dubai’s position as a global blockchain and Web3 innovation center, allowing companies like Fastex to showcase their technology to a global audience.
As the digital and physical worlds continue to converge, Fastex and other Web3-native ecosystems have the potential to shape the future of both realms.