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The Commercial Bank of Dubai (CBD) is internet hosting a nonfungible token (NFT) artwork exhibition at its digital lab in Dubai Worldwide Monetary Centre in partnership with UAE-based NFT artist Amrita Sethi that shares the story of how the financial institution has advanced within the final half-century, Gulf Information reported Monday (Dec. 27). 
The story walks by the historical past of the Deira Clock Tower and the way it ties into the financial institution’s headquarters with a deal with how the financial institution will stay a frontrunner for innovation throughout the area, in response to the report. 
Exhibition guests can scan the QR code embedded within the art work to set off the augmented actuality function that lets them get pleasure from and “see sound” by Sehti’s artwork. Every limited-edition piece comes with a digital twin NFT. 
“We are delighted to celebrate the UAE’s historic Golden Jubilee by hosting a unique NFT art exhibition that speaks about the country’s remarkable rise and achievements in just half a century,” stated CBD CEO Bernd van Linder. 
“Further, I am proud to be able to showcase CBD’s parallel growth over this same period. The UAE has taken great strides in becoming a global technology and innovation hub. CBD has supported, and will continue to support, the UAE on this journey,” he stated.

Industrial Financial institution of Dubai is “proud to be able to provide a platform to showcase one of the UAE’s finest artists at our Digital Lab and to provide art lovers, technology enthusiasts and the wider community a one-of-a-kind chance to experience the NFT technology,” he added. 
Associated: Retailers Pin Hopes on NFTs as Impulse Play 
PYMNTS reported that almost all NFT purchases over the primary 10 months of 2021 had been for lower than $10,000, and cryptocurrency holders spent greater than $27 billion on Ethereum contracts tied to NFTs. Nonetheless, NFT purchases ranging between $10,000 and $100,000 make up 20% of NFT transactions, and that share is anticipated to proceed to climb. 
To sharpen that time, customers paid $65 million for NFTs at Sotheby’s and $100 million at Christie’s this 12 months.

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