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NIFTY Souq

NFT Marketplace

France
Market: Blockchain
Stage of the project: Operating business

Date of last change: 18.02.2022
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Idea

The first NFT marketplace in MENA that will change the Art map in the region using the power of the blockchain, eliminating the middleman and giving economic control to the creators.

Current Status

Launched in Jan
First drop sold out in under 24 hours.
350 Artists onboarded
102 Art collection created
417 Users
Generated $10000 GMV

Problem or Opportunity

No Arabic NFT marketplace and high costs of other platforms’ minting fees.

Technical barrier to entry, e.g. rigid KYC and complicated process to create wallets.

Artists and creators suffer from the scarcity of money streams, which led them to put their futures in the hands of third parties like agencies, label companies, and the likes.

Creators face copyright issues for their digital creations.

Lack of support and exposure to the region.

Solution (product or service)

Arabic Tutorials
Dedicated onboarding support
Multi Blockchain
Credit Card and Apple pay
Multiple cryptocurrencies options
ZERO minting costs
Creators’ promotion
Accessible to all fans
Inclusive platform
Proof of stake blockchains (environment friendly)

Competitors

Non n the region

Opensea, rarible and nifty gateway globally

Advantages or differentiators

• First to market movers. Launched a leading-edge platform to create, buy and
sell digital art and assets using the great potential of NFTs.
• We are art fanatics and our in-house team includes artists, photographers, and
singers.
• Being from the region, we carry the Arab soul in us.
• We have the extensive reach that enforces our position as pioneers.
• Providing a new and unprecedented money stream to artists online.
• Digital Branding for Arab art creators who have influenced millions in MENA.
• We are the only marketplace covering all forms of art including photographers,
digital artists, singers, calligraphists, and many more.
• Our artists already have exposure in Europe, Asia, and the Americas and we aim
to attract global attention to our region.

Business model

B2B and B2C

Money will be spent on

Tech
Marketing
Ops

Team or Management

5,00
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Idea
Current Status
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Problem or Opportunity
Solution (product or service)
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Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
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Lead investor
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Incubation/Acceleration programs accomplishment
Won the competition and other awards
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