Diplomacy Lab launches First NFT MEMBERSHIP

18

Dubai: The Diplomacy Lab, an initiative launched by the Fatima Bint Mohamed Bin Zayed Initiative (FBMI) in collaboration with the Anwar Gargash Diplomatic Academy, will be launching its first ever NFT membership. This membership will form an integral part of the Diplomacy Lab as it aims to attract high achievers and individuals interested in becoming a core part of the community.

Earlier in 2021, The UAE’s gift to Pope Francis, produced by FBMI, was rendered as a non-fungible token (NFT). The Pontifex carpet was gifted by His Highness Sheikh Mohamed Bin Zayed Al Nahyan, President of the UAE, to Pope Francis during a visit to the Vatican City. In September 2016, the two met to discuss the strengthening of the diplomatic relations between UAE and the Vatican as well as the promotion of inter-religious harmony.

The non-fungible token (NFT) representing the carpet was sold for 25 ETH, close to $82,000. The money raised through the sale was used to support vulnerable families in Afghanistan during the cold winter months. Meanwhile, the head of the Catholic Church will keep the physical version of the carpet, which was woven by Afghan women, while the buyer of the NFT received a scaled down replica of the original created by Zuleya, the retail arm of Fatima Bint Mohamed Bin Zayed Initiative (FBMI).

Similar to this, The Diplomacy Lab will be launching a collection of NFT’s related to the soft power objectives of the Lab. The Diplomacy Lab defines its core value in programming that addresses the key soft power objectives in the diplomatic community today. This includes themes related to culture, space, innovation, tolerance, youth, women empowerment, technology, climate action and heritage among many other. Programming is delivered through engagements with local, regional and international thought leaders and entities addressing the key challenges facing us today.

The Lab believes that the philosophy behind reaching this potential lies in the power of the community. Visionaries, ambitious scholars, career diplomats and any others with an interest in learning and engaging with a diverse pool of individuals will benefit immensely from the opportunities made available through the Lab’s network.

As part of its membership programme, The Diplomacy Lab will be launching this NFT exclusive membership offering. This will include memorable diplomatic items converted or tokenised into a non-fungible token (NFT) that will be placed on the market for interested individuals to purchase. The purchase of the NFT will include certain benefits such as access to the Diplomacy Lab’s events, programmes and exclusive network, as well as NFT members-only private dinners with high level stakeholders.

Farshied Jabarkhyl, Managing Director of FBMI and Head of the Diplomacy Lab, said: “Inspired by the increasing relevance of digital technology and the metaverse in Dubai, this programme we are launching aims to position FBMI and the Diplomacy Lab at the forefront of the work in the digital industry. The Metaverse will revolutionise several aspects of life and work in the coming years, and it is crucial for companies to adapt to this development in an agile way. The Diplomacy Lab’s long-term vision includes the establishment of a Lab in the Metaverse.”

The Diplomacy Lab situated in Emirates Towers, AREA 2071, Dubai Future Foundation’s innovation ecosystem (DFF), designed to support the creation of innovative companies. To date, well over 6,000 global companies are part of AREA 2071’s ecosystem. The ecosystem brings together the world’s brightest minds and a platform that offers collaboration between innovators, start-ups, and private and government entities. AREA 2071 will host sessions during the Dubai Metaverse Assembly on 28-29 September, facilitating the exploration of the challenges and opportunities that will shape the future of the metaverse.

About The Diplomacy Lab

Launched by the Fatima Bint Mohamed Bin Zayed Initiative (FBMI) in association with the Anwar Gargash Diplomatic Academy (AGDA), the Lab is a new initiative that aims to create a shared space where different entities can come together and explore innovative ideas and solutions for diplomacy in the 21st century. Engaging with different ministries, government entities, missions and multilateral platforms, the Lab aims to promote and facilitate collaborative and impactful engagement with the wider diplomatic community, all in an effort to enhance dialogue and mutual understanding.