Discover how the collaboration between Ghaf Labs and Sui Foundation aims to foster Web3 adoption in the UAE and MENA region.
In a move that promises to reshape the landscape of Web3 technology in the UAE and the broader MENA region, Ghaf Labs, a boutique consultancy and advisory firm specializing in Web3 ventures, has announced a strategic partnership with Sui Foundation, a pioneering force in the world of blockchain technology. This partnership aims to support Sui Foundation's expansion efforts and foster the growth of Web3 adoption in the region.
Ghaf Labs, an offshoot of Ghaf Capital Partners established in 2019, has carved a niche for itself as a leader in Web3 investments. With an impressive portfolio of 75 companies, Ghaf Capital Partners has leveraged its extensive business background and deep-rooted exposure to traditional and blockchain-based industries to excel in the dynamic world of Web3.
Responding to the increasing demand from companies seeking a foothold in the MENA region, Ghaf Capital introduced Ghaf Labs. This boutique advisory and consultancy service distinguishes itself by providing tailored support to a select group of clients each year. This personalized approach ensures that every client's unique needs and objectives are met with precision and dedication. Moreover, Ghaf Labs fosters a collaborative environment among its clients, ensuring that they do not compete with each other but rather thrive together.
The strategic partnership with Sui Foundation is poised to bolster the foundation's expansion efforts within the UAE. Sui Foundation, which supports the growth and proliferation of the Sui blockchain and its ecosystem, has ambitious plans for the region. These plans include forging partnerships with universities, engaging in discussions with regulators, hosting regional hackathons, and providing support to local Web3 projects.
As a testament to its commitment, Sui Foundation will make its presence felt at some of the most significant Web3 summits in the UAE in Q4 2023, including the Future Blockchain Summit, World Blockchain Summit, and Global Blockchain Congress. Additionally, the foundation will host a monthly meet-up in Dubai, known as "Sui Connect," designed to facilitate community building and stimulate the local Web3 ecosystem.
Central to Sui's innovative approach to Web3 technologies is Sui Move, a specialized programming language developed to power the Diem blockchain. Sui Move addresses the challenges faced by blockchain engineers in developing Web3 enterprises, particularly in comparison to the Ethereum Virtual Machine (EVM).
Sui stands out for its exceptional speed and efficiency, coupled with its ability to securely store data, processes, and assets on the blockchain. These features offer a robust and user-friendly solution for enterprises venturing into the Web3 realm.
Sheikh Al Mualla bin Ahmed Al Mualla, Co-founder of Ghaf Labs, expressed his enthusiasm about the partnership, stating, "We are delighted to partner with Sui Foundation on their journey to become the leading choice for Web3 partnerships."
"Their team's commitment to excellence and groundbreaking innovations aligns perfectly with our vision of fostering the growth of Web3 technologies in the MENA region,” Said Feras Al Sadek, Co-founder of Ghaf Labs.
"We are delighted to partner with Sui Foundation on their journey to become the leading choice for Web3 partnerships," said Sheikh Al Mualla bin Ahmed Al Mualla, Co-founder of Ghaf Labs. "Their team's commitment to excellence and groundbreaking innovations aligns perfectly with our vision of fostering the growth of Web3 technologies in the MENA region,” Said Feras Al Sadek, Co-founder of Ghaf Labs.
Greg Siourounis, Managing Director at Sui Foundation, echoed this sentiment, saying, "Together with Ghaf Labs, we are poised to ignite an era of transformative advancements in Web3 technologies in the MENA region and beyond, bringing Sui’s state-of-the-art blockchain-based technologies to address real-world challenges that have not been solved by traditional centralized networks. We believe our shared vision will pave the way for building a global decentralized Web3 ecosystem based on the most advanced technologies and inclusive of all people."
This partnership represents a significant milestone for both Ghaf Labs and Sui Foundation as they collaborate to drive Web3 adoption and innovation within the UAE and beyond.
With Ghaf Labs' wealth of experience and Sui Foundation's commitment to cutting-edge technologies, this collaboration promises to unlock unprecedented opportunities and lead the charge in the next generation of Web3 advancements. Together, they are poised to usher in a new era of decentralized, user-friendly Web3 technology that will benefit the people of the UAE and the entire MENA region.
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About Ghaf Labs
Ghaf Labs, situated in the Middle East, is a distinguished blockchain consultancy and incubator firm. Their primary focus is on nurturing both emerging startups and established enterprises within the blockchain sector.
As the sibling company of Ghaf Capital Partners, Ghaf Labs leverages its wealth of expertise and resources to offer a comprehensive range of services, including growth support, acceleration, advisory, and consultancy, tailored to the needs of the blockchain industry and its associated companies.
Ghaf Labs' core mission is to assist businesses in expanding their presence across the MENA Region while simultaneously establishing a robust global presence. They achieve this through various initiatives within the local ecosystem. One noteworthy approach is their adept utilization of extensive networks in both Web2 and Web3 realms, effectively serving as a two-way conduit for the adoption of services on both sides.