Press release
Daman Investments Backs Web3 Sector With Strategic Investment Focus Across Four Key Verticals
Backed by its principal shareholder and Chairperson, Shehab Gargash, Daman is positioning itself at the forefront of the Web3 revolution through a newly defined investment thesis. The firm has identified four key verticals for focused investment across the decentralized ecosystem:
Consumer dApps
Daman will prioritize investments in Web3 consumer applications that deliver real-world utility. Building on its legacy of sector-agnostic technology investments, the group has already made a significant investment in myco, a UAE-based Web3 video streaming platform poised to become one of the leading consumer dApps globally.
Brokerage & Payments
Recognizing the growing need for regulated crypto services, Daman has incubated Daman Virtual*, a soon-to-be VARA-licensed entity focused on crypto brokerage and payments. This arm of the business will drive innovation in digital asset transactions and serve as a gateway to the crypto economy.
Web3 Loyalty Infrastructure
Leveraging the Group's footprint in consumer banking, hospitality, and mobility, Daman is keen to invest in Web3 startups building next-generation loyalty solutions across MENA. These platforms are expected to redefine customer engagement through token-based rewards and interoperable loyalty programs.
AI-Powered Web3 Ventures
Daman also announced a strong investment interest in the convergence of AI and Web3. The firm has made its first move by backing A47, a UAE-based decentralized news network powered by AI agents, aiming to disrupt how news is created, distributed, and monetized.
To further its vision in this space, Daman Investments has appointed globally recognized Web3 strategist and venture investor Momin Saqib as their Web3 Advisor, with an initial focus on the global success of #A47. Under his guidance, Daman plans to explore deeper engagement with emerging web3 technology and founders shaping the decentralized future.
"We believe Web3 will play a foundational role in the future of finance, media, consumer tech, and infrastructure," said Ahmed Khizer Khan, CEO of Daman Investments. "Through calculated investments and strategic partnerships, we aim to empower disruptive startups that align with our vision for a more open, decentralized, and AI-integrated digital economy."
*Daman Virtual is in the process of obtaining a license from the Virtual Assets Regulatory Authority (VARA) in Dubai and is currently not offering any regulated services
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