Dubai becomes the first place in the world to get a physical NFT store

Updated: 16 March 2023

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Dubai, the largest crypto and business center in the Middle East and North Africa region, just got yet another unique thing — the world’s first physical NFT shop. The ftNFT shop, launched by Fastex, allows customers to seamlessly interact between the digital and physical universe.

Thanks to this unique concept, the shop quickly attracted massive amounts of attention. Initial reports say that the shop offers exceptional customer service and friendly staff on sight, ready to help customers who wish to become NFT owners.

The fun is about to begin.
You only have a few hours to make this part of your schedule today and join us at the Grand Opening of the ftNFT Phygital Space in Dubai.
Don’t miss out.#ftnft #nftspace #grandopening #dubaimall #dubai #today pic.twitter.com/DmcJPuGgcw

— ftNFT Phygital Space (@Ftnft) March 16, 2023

Given the success and interest that the first shop has seen, Fastex recently revealed that it intends to open its second ftNFT shop soon. This one would also be located in Dubai, specifically, in Dubai Mall — the largest shopping mall in the world.

🚀Exciting news! The first physical NFT stores opened in Dubai, setting a new phygital trend. Fastex's ftNFT shop has become the world's first physical NFT store. The ftNFT shop is located in the Dubai Mall.

#NFTs #Phygital #Dubai #BTC pic.twitter.com/uYl1kKjMh4

— Alamin H (The Web3 Guy) (@MrAlaminH) March 16, 2023

What is the store like?

The world’s first NFT store was designed as a one-of-a-kind shop with a cozy atmosphere meant to make the NFT purchase an exciting social experience. As a first shop of this kind ever, its goal is to make the experience as positive and enjoyable as possible for real-world customers. This is why visitors can enjoy a guided tour that will take them across the massive library of available NFTs, where they can purchase one of the many digital art pieces at any time.

Apart from that, there are certain in-store activities, such as a 3D-scanner-supported avatar booth, a DJ cabin, and physical pendants that accompany digital collections. All of this is meant to elevate the experience and encourage direct interaction with the digital world. Essentially, the shop seeks to serve as the bridge between the physical and digital worlds, and according to those who have visited it so far — it does a pretty good job at achieving that.

According to Fastex, the opening ceremony for its second shop in Dubai Mall will take place on March 16/17, and visitors will be able to come and personally explore the shop’s rich NFT catalog for themselves.

Buyers prefer shopping at physical stores

While Fastex became extremely well-known thanks to the launch of the ftNFT shop, the company also offers a complete Web3 ecosystem, featuring an array of different services. It offers a digital asset exchange, staking, payment gateway, as well as certain DeFi services.

The timing of the physical NFT store is also quite excellent. The foundation for NFTs has already been laid in the digital world, and users have gotten used to buying and selling them. Of course, they have gotten used to it being an online practice.

With that said, buying NFTs online does lack some key aspects of the overall buying/selling experience that the customers do miss. Many have reported that they find shopping in physical stores more enjoyable, especially when they require assistance from an on-site expert. Staff that is well informed about the products on offer, and can assist the buyers by providing in-depth information on the spot, is still in high demand.

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