EVA FZE is an Entity incorporated in the Emirate which owns and operates a luxury retail brand. As part of the celebrations of its 10-year anniversary, EVA FZE wants to issue a commemorative Virtual Asset to its most loyal customers called EVA1. EVA1 will be issued to selected customers only, chosen by EVA FZE, and will not be transferable between VA Wallets once issued. The EVA1 collection is not available for purchase and customers will be chosen based on past retail purchasing history. EVA1 is purely commemorative and does not provide customers with any rights of redemption or discount.
 

Key considerations: EVA FZE is able to issue the EVA1 collection as an Exempt VA under the VA Issuance Rulebook without the need to prepare a Whitepaper or Risk Disclosure Statement. This is because the EVA1 Virtual Asset constitutes a Non-Transferable Virtual Asset on the basis it is not being sold, provides no rights of redemption or discount and is not transferable between VA Wallets.
 

EVA FZE must still comply with Part II (General Rules) of the VA Issuance Rulebook which includes acting with integrity, honesty and fairness and remains under the supervisory, examination and enforcement powers of VARA as an Issuer of a Virtual Asset in the Emirate.