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Lyvely, a cutting-edge social monetization platform, has achieved a significant milestone by securing a full operational license from Ras Al Khaimah Digital Assets Oasis (RAK DAO). This license enables Lyvely to operate as a SocialFi platform, marking a regional first.

Empowering Digital Creators

Backed by Phoenix Group and Cypher Capital, Lyvely aims to revolutionize the $250 billion global creator economy. Founded in 2023 by Farah Zafar and Dave Catudal, the platform seeks to empower digital creators through innovative monetization features.

A New Era for Digital Creators

“We’re proud to be a homegrown brand, building for the global creator and freelance economy from the UAE,” said Farah Zafar, Lyvely’s Co-founder and CEO. “As a SocialFi platform licensed under RAK DAO, we envision adding immense value to the digital ecosystem by enabling web3-powered monetization avenues for under-represented digital creators.”

RAK DAO’s Commitment to Innovation

Dr. Sameer Al Ansari, CEO of RAK DAO, added, “We’re thrilled to welcome Lyvely as a licensed SocialFi platform within our innovative ecosystem. This milestone underscores our commitment to nurturing cutting-edge digital assets companies in the MENA region.”

What’s Next for Lyvely?

With this operational license, Lyvely plans to release its mobile app in Q4 2024, followed by a token launch. This strategic partnership with RAK DAO signals Lyvely’s intent to amplify its impact among the web3 community, contributing to the massive economic potential of the UAE and the wider MENA region.