Majid Al Futtaim, Binance announce partnership to unlock Web3 capabilities for customers

RIYADH: Dubai-based Majid Al Futtaim group has signed a strategic partnership with Binance, the largest crypto exchange, to enable it to harness Web3 technologies.

Web3 is an idea for a new iteration of the World Wide Web based on blockchain technology, which incorporates concepts such as decentralization and token-based economics.

The agreement will see a number of blockchain projects, including the listing of non-fungible tokens, or NFTs, on the Binance marketplace, and the creation of a digital wallet infrastructure to hold virtual assets from multiple platforms.