Al Habtoor Group issues statement denying any venture in NFT space

Earlier, Al Habtoor Group had announced plans to enter the NFT space, with the launch of an exclusive NFT Collection in Q1 of 2022

Al Habtoor Group this evening clarified that the group and all its divisions, including Habtoor Hospitality (Habtoor Hotels), have not signed any agreements with Luna PR, nor do they have the intention to enter the NFT space at the present time.

In an official statement, released to the media, the group responded to the news published earlier in several media outlets about a deal signed with Luna PR by Habtoor Mohammed Al Habtoor.

“We are compelled to clarify that Al Habtoor Group has not entered into any deal with Luna PR relating to NFT space. Any deal or business connection taken by Mr Habtoor Mohammed Al Habtoor is done so in a personal capacity, and Al Habtoor Group is not liable under any circumstance for any damages or liabilities arising directly or indirectly from this business venture,” a spokesperson for Al Habtoor Group said.

Earlier, Al Habtoor Group had announced plans to enter the NFT space, with the launch of an exclusive NFT Collection in Q1 of 2022. Titled ‘Last Hopium’, the collection would have featured 10,000 unique avatars designed by Noxx, an acclaimed artist, with experience in creating statuesque avatars for games, and NFTs. The digital assets would showcase 3D renderings of unique characters - each one will be a 1/1 edition, making them one-of-a-kind pieces.

In addition to the unique artwork, Al Habtoor Group had plans to be a pioneer in the space, as NFT holders would have exclusive access to real-world benefits, amenities, and opportunities across the group’s hospitality division that includes 14 world-class hotels – seven locally and seven abroad.

Currently, the NFT industry is saturated with digital art. While the industry is at an all-time boom, Al Habtoor Group noted that it will be one of the first major organisations to utilize NFT and blockchain technology to sell digital art, as assets that allow for real-world applications and opportunities. The group had announced a partnership with Luna PR, a PR and marketing agency that specialises in crypto, blockchain, and emerging tech. Based out of Dubai, the agency has been in the space for five years and has worked with over 400 clients. Luna PR said that it will be working closely with the team at Al Habtoor Group to ensure that the NFT Collection is highlighted across traditional and crypto media, with a specific focus on growing Last Hopium’s community.

rohma@khaleejtimes.com