IBF Net successfully launches Netverse, which happens to be the world’s first metaverse on the Algorand blockchain. It also, incidentally, happens to be the world’s first Shariah-compliant metaverse on just about any blockchain whatsoever. For the entire Islamic world, this will seemingly be a major thrust forward in overall digitalization. 

If the experts are to be truly believed, on one side is the ever-evolving scenario where Web 3.0 technology is concerned, and on the other side happens to be the ever-increasing numbers of the world’s population requiring to connect with the digital and virtual space. All of this has eventually given rise to the fact that the present digital economy is calculated to be approximately 20-25 % of the total global economy. It also happens to be growing with each day. All of this changing scenario is being closely observed by most Islamic countries. They are currently in favor of the development of a halal ecosystem. Into this very scenario is what IBF Net and its Netverse want to dive into. 

(By David Cox)