The recently launched Dubai Metaverse Strategy by His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, has encouraged QUINT, a DeFi project headquartered in Dubai, to bring philanthropy to the DeFi world.
The founders of QUINT, the project championing the mainstream adoption of DeFi, metaverse, token and blockchain technologies, have donated an equivalent value of USD 16 million to Al Jalila Foundation, a member of the Mohammed Bin Rashid Al Maktoum Global Initiatives, dedicated to transforming lives through medical innovation.
The donation, the first of its kind in the UAE and the largest of its kind in the world, was made to support Hamadan Bin Rashid Cancer Charity Hospital through a specially-devised locking and vesting mechanism that will make the required funds available to Al Jalila Foundation over the 3-year construction of the hospital's bone marrow transplant centre. After the full realisation of the donation, the facility will be named "QUINT Bone Marrow Transplant Centre" upon its launch. The Developing team and Strategic Partners of the QUINT token have also contributed generously towards this donation.
Dr. Abdul Kareem Al Olama, CEO at Al Jalila Foundation, said: "As a philanthropic organisation we rely on charitable donations and we are always seeking innovative ways to expand our donation channels for ease of convenience for donors from all around the world to support our programmes. Crypto philanthropy has emerged as an important and sustainable source of fundraising for charities, giving donors greater opportunities to support humanitarian causes. We are grateful to QUINT for their generous contribution that will have a great impact on the lives of adults and children suffering from cancer."
Bone marrow transplant (also known as stem cell transplant) is a medical procedure that infuses healthy stem cells to replace damaged or diseased bone marrow. This treatment is usually for cancers such as leukaemia, lymphoma, or other similar life-threatening conditions. The replacement bone marrow or stem cells can come from the patient themselves (autologous transplantation) or from a donor (allogeneic transplantation).
QUINT, a flagship DeFi project on the BSC chain, has innovated the idea of super-staking pools that allow investors to benefit from real-world returns, rewards and investment opportunities. The Quint boutique NFT Market Place connects the Metaverse to the physical world through innovative Token Frames. In May 2022 Quint partnered with Galaxy Racer (GXR), a transmedia powerhouse focused on esports, content creators, music, and sports, headquartered in Dubai, and became the native token for the GXR ecosystem. The Quint ecosystem is also supporting the Dubai Blockchain Strategy and Emirates Blockchain Strategy, and is establishing new standards for ESG, transparency, accountability and deliverability within the cryptocurrency ecosystem.
Mr Mohammed Al Bulooki, Chairman of Quint, said: "Quint's founders, developers and partners support Al Jalila Foundation's aim of transforming lives through medical research, and are delighted to be able to contribute to this mission. Quint prides itself on contributing to community well-being and holding itself to high standards of governance and ethics. As part of our mission of connecting the metaverse to the real world, and boosting mainstream adoption of cryptocurrencies and DeFi, we are pleased to be amongst the first to embrace crypto philanthropy in the UAE and the Middle East."
Quint's founding team and strategic partners are all industry veterans with strong track records. It is noteworthy that Quint's CEO Mr Rahul Chaudhary sits at the helm of CG Corp Global, a multi-billion-dollar multinational conglomerate spanning 140 years of operation, 160 companies and 123 brands in over 35 countries.
In less than a year, Al Jalila Foundation has already raised AED400 million, towards the AED750 million fundraising target, with major donations received from a number of philanthropists, government and non-government organisations, UAE businesses and corporates to support the development of the UAE's first cancer charity hospital.