{"id":17375,"date":"2022-06-03T15:25:01","date_gmt":"2022-06-03T15:25:01","guid":{"rendered":"https:\/\/www.meretailnews.com\/?p=17375"},"modified":"2022-06-06T09:58:48","modified_gmt":"2022-06-06T09:58:48","slug":"web-3-0-integration-is-majid-al-futtaims-newest-venture","status":"publish","type":"post","link":"https:\/\/www.meretailnews.com\/2022\/06\/03\/web-3-0-integration-is-majid-al-futtaims-newest-venture\/","title":{"rendered":"Web 3.0 integration is Majid Al Futtaim\u2019s newest venture"},"content":{"rendered":"


\nShopping centre operator Majid Al Futtaim has partnered with Binance, a blockchain environment with an infrastructure for cryptocurrency trading. <\/span>\u00a0<\/span><\/p>\n

The partnership allows Majid Al Futtaim to capitalise on growing Web 3.0 technologies, and harness and integrate them into their retail avenues.\u00a0<\/span>\u00a0<\/span><\/p>\n

\u201cThe exponential rate of technology development today is matched only by consumers\u2019 voracious appetite for exceptional customer experiences in both the physical and digital world,\u201d said Alain Bejjani, CEO of Majid Al Futtaim.\u00a0<\/span>\u00a0<\/span><\/p>\n

\u201cWe are delighted to be partnering with global Web3 leader, Binance, on the new frontiers of customer engagement and experience and look forward to working in tandem to evolve the third generation of web technology, develop strong capabilities and deliver innovation and world-class omnichannel experiences to our customers.\u201d<\/span>\u00a0<\/span><\/p>\n

Web 3.0 is the latest Internet service powered by blockchain technology and artificial intelligence, allowing users to operate using cryptocurrencies, NFTs and other versions of decentralised finance. <\/span>\u00a0<\/span><\/p>\n

Binance will provide a digital wallet infrastructure for Majid Al Futtaim customers to hold virtual assets from multiple platforms.\u00a0<\/span>\u00a0<\/span><\/p>\n

Various retail products of Majid Al Futtaim will be available on Binance\u2019s marketplace as NFTs.\u00a0<\/span>\u00a0<\/span><\/p>\n

The partnership also entails the integration of Binance Pay, Binance\u2019s contactless, borderless, user-to-user payment scheme where consumers and merchants use cryptocurrency without paying additional costs, into Majid Al Futtaim\u2019s Web 3.0 presence.\u00a0<\/span>\u00a0<\/span><\/p>\n

Web 3.0 users can use Binance Pay to purchase virtual assets from Majid Al Futtaim\u2019s outlets.\u00a0<\/span>\u00a0<\/span><\/p>\n

\u201cMajid Al Futtaim is one of the most prestigious businesses in the Middle East and has millions of customers every year,\u201d said Changpeng Zhao, CEO and co-founder of Binance.\u00a0<\/span>\u00a0<\/span><\/p>\n

\u201cIntegrating Web3 technologies will give its customers access to innovative new ways to engage with its brands and provide new ways to play.\u00a0<\/span>\u00a0<\/span><\/p>\n

\u201cThrough partnerships like these, we will see the innovative use-cases that come to define the next digital era emerge, and Majid Al Futtaim is positioned to become a trailblazer in bridging the gap between physical and Web3 experiences.\u201d<\/span>\u00a0<\/span><\/p>\n

In April, Binance\u2019s market value was placed at $92.5 billion by <\/span>Forbes<\/span><\/i>.\u00a0<\/span>\u00a0<\/span><\/p>\n

This year, NFT marketplaces have seen $37 billion traded, a significant increase from last year\u2019s total exchange value of $40 billion, per reports by blockchain data platform Chainalysis.\u00a0<\/span>\u00a0<\/span><\/p>\n

Marketplaces operating in the Middle East recorded spiked activity in the middle of last year, but have since stabilised and now account for 5 per cent of global Web 3.0 traffic.<\/span>\u00a0<\/span>\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Shopping centre operator partners with blockchain, cryptocurrencies and NFT environment.<\/p>\n","protected":false},"author":39,"featured_media":17276,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[4127,3944],"_links":{"self":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts\/17375"}],"collection":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/comments?post=17375"}],"version-history":[{"count":3,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts\/17375\/revisions"}],"predecessor-version":[{"id":17400,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts\/17375\/revisions\/17400"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/media\/17276"}],"wp:attachment":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/media?parent=17375"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/categories?post=17375"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/tags?post=17375"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}