What is the RAKDAO and what does the MOU consist of?

RAK DAO is a free zone in the United Arab Emirates (UAE) dedicated to crypto companies. It is the world's first regulated free zone dedicated exclusively to digital and virtual asset companies innovating in new and emerging sectors of the future, such as cryptocurrency, metaverse, blockchain, gaming, NFTs, DAOs, DeFi, DApp and other Web3 related businesses.

It has signed a memorandum of understanding (MOU) with the HBAR Foundation; HBAR is a non-profit organization that oversees the development and adoption of the Hedera Hashgraph network, to support Web3 startups.

The collaboration with HBAR will give startups access to a program of grants and support in the areas of technology, marketing and business development.