UAE-based online gifting service Joi Gifts has announced that it has sold its first non-fungible token (NFT).
Joi said the NFT-gifting service was the first service of its kind in the Middle East, and all of the digital assets listed so far on its website are Valentine’s Day themed.
The first of the tokens to sell was an artwork called MetaHearts by Saudi Artist Noonie, with the new catalogue in partnership with NFT marketplace NIFTY Souq, which operates for Saudi Arabian and wider-based artists and collectors on Polygon, a layer two decentralised blockchain.
NFTs are digital contracts built on blockchain technology that allow users to purchase unique online digital items.
MetaHearts was sold on Joi Gifts for an undisclosed sum, but NFTs are currently listed starting from AED 350 ($95) on the site.
“With NFTs, we are increasing the range of our product offering to innovate and keep pace with evolving trends, something our customers appreciate so that we can provide them with more options to gift their loved ones. We are proud to be a pioneer in digital gifting in the region.” said Rami Kahale, CEO of Joi Gifts.
Recent high-profile examples of the digital assets sold elsewhere include a $69 million digital artwork from Beeple, while Twitter founder Jack Dorsey sold his first Tweet for more than $3 million.
(Writing by Imogen Lillywhite; editing by Daniel Luiz)
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