Ras Al Khaimah Digital Assets Oasis (RAK DAO), a specialized UAE free zone for virtual asset companies, has attracted close to 400 businesses within its first year and is eyeing a major role in the gaming industry, according to Dr. Sameer Al Ansari, CEO of RAK DAO.
“In the past year, we issued nearly 400 licenses to companies across diverse sectors, establishing Ras Al Khaimah Digital Assets Oasis as a global platform for transformative tech segments like AI, the metaverse, blockchain, Web3, and more,” Dr. Al Ansari said at a recent conference.
Dr. Al Ansari emphasized the gaming industry’s immense potential, noting that it now surpasses both the music and movie industries combined. “We see significant opportunities for Ras Al Khaimah in the gaming space,” he said, underscoring RAK DAO’s goal to establish the UAE as a major digital innovation hub. He added that the UAE is now ranked third globally in crypto adoption, reflecting rapid growth over the past five years.
In addition to supporting gaming, RAK DAO introduced the DAO Association Regime, a new legal framework designed for decentralized autonomous organizations (DAOs). This framework provides DAOs with legal status, limited liability, and recognition, making it easier for these organizations to interact with traditional financial systems.
Al Ansari described the initiative as a “game-changer” for the Web3 ecosystem. He highlighted two modules within the framework: Startup DAOs, for emerging projects with fewer than 100 members, and Alpha DAOs, for larger DAOs with treasuries exceeding $1 million, allowing for scaled growth under legal protections.
“DAOs are integral to Web3, with over 50,000 organizations worldwide managing treasuries worth over $25 billion. By offering legal identity, DAOs in the UAE can now open bank accounts, raise capital, and more, without facing traditional financial barriers,” he said, adding that this framework sets a global standard for decentralized governance.
With its regulatory initiatives, RAK DAO aims to attract DAOs and virtual asset businesses seeking a compliant, supportive environment, positioning Ras Al Khaimah as a central player in digital innovation and decentralized finance.
