First Arab female-owned NFT collection launches in the MENA region
Posted on 2022 Mar,15  | By ArabAd's staff

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The Crypto Camels Club, a female-owned collection of 10,000 unique Non-Fungible Tokens (NFTs), launched today in the Middle East and North Africa (MENA) region, targeting to sell up to 10,000 NFTs, as it aims to benefit from the surge in popularity for NFTs in the region.

Based in Bahrain, The Crypto Camels Club was founded by entrepreneur and CEO Nasreen Faqihi, alongside her co-founders Saudi Cloud Computing Expert Danah Alsobayel and venture capitalists Bahraini Hasan Haider and Saudi Ibrahim Al Hejailan.

Each of the 10,000 Crypto Camel NFTs is unique and reflective of the founders’ proud Arabic culture and heritage. The NFTs are programmatically generated from over 130 possible traits, including expression, headwear, clothing, and more, demonstrating the eclectic style of each owner.

The Crypto Camels Club has three main components, according to CEO Nasreen Faqihi. “Owners will get access to The Majlis - an exclusive, subscription-based network of their peers; we are planning regular business-focused, in-person social and cultural events, and we aim to raise money for a range of charities focusing on but not limited to, emerging artists, orphanages, and women’s associations amongst others,” she said.

The Crypto Camels are designed by a female artist, stored as ERC-721 tokens on the Ethereum blockchain and hosted on an IPFS. In a nod to its charitable ambitions, the Club also plans to donate 20 per cent of sales to charity once half of all the NFTs have been sold.

Leveraging its exclusive membership, The Crypto Camels Club is also planning to host at least fifteen in-person meetups, gatherings, and events across the region within the first year of operation.

The timing of this exclusive launch could not be more perfect, with a survey by of 1,004 people in the UAE showing that 23 per cent of respondents own at least one NFT, double the global average, while the first Saudi Arabian NFT marketplace closed its first funding round in November and aims to target MENA-based artists.

With some of the world’s biggest brands, including Coca Cola and Gucci, entering the NFT market, this fast-growing trend is set to increase, as NFT sales grew to $24.9 billion last year, up from just $994.9 million the year before, according to DappRadar.