Dani Alves, the Brazilian footballer best known for his time at FC Barcelona, will be launching a line of luxury watch non-fungible tokens at Dubai's MetaTerrace, blockchain consultancy ColossalBit said.
The Alves Trophy Collection NFTs, which will be launched on June 28, were created in collaboration with British watchmaker Backes & Strauss.
The collection comprises 43 virtual timepieces that commemorate each trophy Alves won in his career, ColossalBit, which owns MetaTerrace, said in a statement on Thursday.
"We are honoured to collaborate with him and Backes & Strauss ... as they kick off their NFT journey at MetaTerrace. It’s an exciting moment for the world of crypto and Dubai as a launchpad,” said Christian Chalfoun, co-founder and chief technology officer of ColossalBit.
Celebrities have joined the hype surrounding NFTs, which are unique digital properties in the form of art or media bought using blockchain technology.
Actors Gwyneth Paltrow and Brie Larson, singer Justin Bieber, talk-show host Jimmy Fallon, model Emily Ratajkowski and socialite Paris Hilton have all gone public with their own NFTs.
NFTs are also receiving increasing attention in Dubai, which is focusing on developing future technologies as part of its move towards the digital economy.
On Saturday, the inaugural Global Titans Fight Series — the first sporting event offering NFT-enabled livestream access — at Dubai's Burj Al Arab will be headlined by undefeated five-division boxing champion Floyd Mayweather Jr.
The market is on pace for a record year: NFT collectors have sent more than $37 billion worth of digital assets to NFT marketplaces so far in 2022, nearing the $40bn recorded for all of last year, blockchain platform Chainalysis said in a report last week.
ColossalBit's collaboration with Alves is its latest partnership with an sports personality. In December, it bought the NFT of the ST DuPont pen used by football legend Diego Maradona to sign a contract with Napoli in 1984 for $26,000.
Alves, whose professional career started in 2001, also played in the top tier leagues of Italy and France for Juventus and Paris Saint-Germain, respectively. His 43 trophies exceed even those of seven-time Ballon d'Or winner Lionel Messi.
The Alves Trophy Collection will be sold in three variants: premium, a sole NFT that will grant ownership of the real watch; fractionalised, where five of the 43 watches will be sold in fractions; and regular, where 1,482 NFTs will provide its holders benefits such as signed merchandise and the opportunity to meet Alves.
MetaTerrace, where the event will be held, is a lounge based on the concept of the metaverse, the emerging digital space in which people, represented by avatars or three-dimensional likenesses, can interact in virtual worlds.
The restaurant aims to converge the physical and digital worlds by having its own virtual reality room where VR glasses will enable people to access “alternative worlds" and engage in NFT and cryptocurrency discussions.
The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
MATCH INFO
Uefa Champions League semi-finals, first leg
Liverpool v Roma
When: April 24, 10.45pm kick-off (UAE)
Where: Anfield, Liverpool
Live: BeIN Sports HD
Second leg: May 2, Stadio Olimpico, Rome
The Sand Castle
Director: Matty Brown
Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea
Rating: 2.5/5
The years Ramadan fell in May
The years Ramadan fell in May
