Animoca Brands Corporation Ltd is at the forefront of transforming the Web3 and gaming environments in Saudi Arabia through a recent Memorandum of Understanding with King Abdulaziz City for Science and Technology (KACST). This collaboration aims to nurture the Web3 and gaming sectors within the Kingdom.
KACST, an autonomous governmental institution, is committed to promoting scientific and technological progress and fostering partnerships among Saudi Arabia’s scientific bodies.
The alliance between Animoca Brands and KACST will focus on propelling the Web3 ecosystem and gaming sector in Saudi Arabia, which includes the creation of a Web3 Hub in Riyadh. This hub will serve as an incubator for Web3 startups and blockchain innovations within the region.
The initiative goes beyond establishing a physical space; it also strives to contribute to the socio-economic growth of Saudi Arabia by nurturing local talent through educational programs, training, and job creation.
“Joining forces with KACST to establish the Web3 Hub and grow the Web3 and gaming ecosystem in Saudi Arabia is a pivotal step for us and the region. This strategic partnership aligns with Animoca Brands’ overall vision of advancing adoption and development in the Web3 space.” – Yat Siu, Co-founder and Executive Chairman of Animoca Brands
The collaboration will include joint research into Web3, blockchain, gaming, artificial intelligence, and the metaverse. It will also bring about strategic partnerships with local universities to offer specialized educational programs.
Animoca Brands will lend its expertise in tokenomics and Web3 economics to regional projects and companies, and together with KACST, will develop immersive experience labs that highlight the latest in gaming, technology, and digital innovation.
To support the burgeoning Web3 and gaming ecosystem, KACST will provide office space for startups, while Animoca Brands will contribute its specialized Web3 industry knowledge.
“We are excited to join forces with Animoca Brands in building national capabilities for gaming, immersive experiences, and Web3 technologies. We seek to transform blockchain and digital innovation development by establishing the Web3 Hub and growing the Web3 ecosystem in Saudi Arabia.” – Dr. Mariam Nouh, VP of Economies of the Future at KACST