In a significant development within the UAE’s digital asset landscape, Lyvely, a platform dedicated to social monetization, has made an exciting announcement. The company has been granted a full operational license by the Ras Al Khaimah Digital Assets Oasis, authorizing it to conduct non-regulated activities in the SocialFi sector. Lyvely highlighted that this jurisdiction is unique as it is the first and only one where Common Law is applied to support businesses in the digital asset domain.
**Ras Al Khaimah Digital Assets Oasis Grants Operational License to Lyvely**
Lyvely enjoys the support of the Phoenix Group, a publicly traded company that integrates blockchain technology into its operations. Additionally, Cypher Capital, a leading investor in the Web3 space, endorses Lyvely’s endeavors. With such robust support, Lyvely aims to transform the global creator economy, which is valued at approximately $250 billion. The platform was co-founded by tech wellness entrepreneurs Dave Catudal and Farah Zafar last year.
The founders’ vision for Lyvely is to empower digital creators, ranging from celebrity influencers to online brands. Lyvely offers a suite of fintech services that enable brands and creators to monetize their digital presence through various features, including social commerce, paid communities, and content memberships.
Operating from the Ras Al Khaimah Emirate in the UAE, RAK DAO is committed to bolstering the next wave of global entrepreneurial talent and fostering innovative solutions. Its goal is to influence the evolution of Web3 economies and the digital asset business sector. The newly acquired license marks a significant milestone in Lyvely’s operational journey.
With this license, Lyvely is poised to offer its services as a burgeoning tech venture within the secure and recognized environment of the UAE. Dr. Sameer Al Ansari, CEO of RAK DAO, remarked on this progress, noting it as a testament to the organization’s commitment to supporting the growth of sophisticated digital asset companies in the MENA region.
**Lyvely Prepares for Mobile App Launch in Q4 2024**
Dr. Ansari further stated that RAK DAO and Lyvely share a common goal of advancing technological innovation. Echoing this sentiment, Lyvely’s CEO and co-founder Farah Zafar expressed excitement over this milestone. Zafar emphasized that the license positions the company to contribute significantly to the broader digital ecosystem by enabling Web3-driven monetization opportunities, particularly for under-represented creators. Additionally, Lyvely is gearing up to introduce a mobile application in the fourth quarter of this year.
