Lyvely, UAE-based social monetization platform, has been awarded a full operational license from Ras Al Khaimah Digital Assets Oasis (RAK DAO). 

Lyvely is committed to empowering all digital creators with advanced monetization tools, and had previously announced securing $6 million in a strategic investor round for its upcoming token launch. 
 
Ras Al Khaimah, UAE: Lyvely, UAE-based social monetization platform, today announced that it has been awarded a full operational license from Ras Al Khaimah Digital Assets Oasis (RAK DAO), the world's first and only Free Zone with Common Law features established to support digital assets companies. The license allows Lyvely to undertake any non-regulated activities that fall under the SocialFi category.   
 
Backed by publicly listed blockchain technology conglomerate, Phoenix Group, and leading Web3 investment firm, Cypher Capital, Lyvely aims to disrupt the $250 billion global creator economy. Lyvely was founded in 2023 by tech and wellness entrepreneurs Farah Zafar and Dave Catudal to empower all digital creators, ranging from celebrity influencers to digital creators and online brands. Designed as a social monetization platform and digital HQ with a suite of fintech features, Lyvely allows creators and brands to profit from their digital presence via monetization features such as content memberships, paid communities, and social commerce. 
 
Located in the UAE’s Emirate of Ras Al Khaimah, RAK DAO was established to empower the next generation of global entrepreneurial talent to build transformative solutions, and shape the future of digital assets businesses and Web3 economies. The license from RAK DAO marks a major milestone in Lyvely’s operational roadmap as a UAE born and bred tech startup. Lyvely’s SocialFi operational license will enable the company to operate within a secure and recognized environment. 
 
Dr. Sameer Al Ansari, CEO of RAK DAO, noted: "RAK DAO is 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. Lyvely's vision to empower digital creators with advanced monetization tools aligns with our mission to drive technological advancement in the region.”

Expressing delight at receiving the RAK DAO license, Farah Zafar, Co-founder and CEO of Lyvely, said, “We are proud to be a homegrown brand, building for the global creator and freelance economy from the shores of UAE. 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 and everyone who seeks to build a more profitable digital presence. Our strategic association with RAK DAO signals our intent to amplify our impact among the web3 community, while simultaneously adding to the massive economic potential of UAE and the wider MENA region. ”

With the platform registering an impressive early traction, Lyvely is set to release its mobile application in Q4 2024, followed by a much-awaited token launch. 
 
About RAK DAO:
RAK Digital Assets Oasis (RAK DAO) is the world's first and only Free Zone with Common Law features established to support and nurture digital assets companies. In the UAE Emirate of Ras Al Khaimah, RAK DAO offers a transparent legislative framework that simplifies the process of opening and operating digital assets companies. By fostering a vibrant ecosystem and providing comprehensive services, RAK DAO drives the future of emerging sectors, propelling innovation, and unlocking the potential of digital assets.
 
About Lyvely
Lyvely is a social monetization platform building the future of online monetization for creators, freelancers, businesses and digital entrepreneurs. Lyvely is a digital HQ that empowers people to think more entrepreneurially and monetize their content, skills, and passion. Creators can offer monthly memberships, build communities, live stream and sell, offer gigs and services, accept tips, earn from their content or as an affiliate, and do so much more. The company is based in the UAE, with Phoenix Group, an Abu Dhabi Exchange (ADX) listed multi-billion dollar tech conglomerate, recently acquiring 25% of the company. For details: get.lyvely.com 
 
About Phoenix Group
Phoenix Group is a multi-billion-dollar tech powerhouse headquartered in the UAE, at the forefront of the blockchain, crypto, and tech revolution. Beyond the web3 sphere, they offer comprehensive solutions, boast a 765MW mining operation, and fuel growth through strategic partnerships and innovation. Phoenix Group operates nine mining facilities in the US, Canada, CIS, and the UAE, with each unique company operating in one of four distinct verticals: Mining, Hosting, Trading, and Investments. Phoenix Group PLC is the region's first privately owned crypto and blockchain conglomerate listed on the Abu Dhabi Securities Exchange. It also runs the largest mining farm in the MENA region.

For details: https://phoenixgroupuae.com