Web3 in Saudi Arabia: Animoca-KACST Tie-Up
What's the Buzz About Web3 in Saudi Arabia?
Animoca Brands, a leading Web3 gaming and metaverse company, has joined forces with King Abdulaziz City for Science and Technology (KACST) to accelerate the growth of Web3 and gaming in Saudi Arabia. KACST, established in 1977, is a government-owned entity dedicated to promoting science and technology and fostering collaborations with scientific organizations in the Kingdom of Saudi Arabia (KSA).
How Will This Partnership Play Out?
The partnership aims to establish a physical hub in Riyadh dedicated to supporting Web3 startups and blockchain technologies. Educational programs, training, and employment opportunities will be offered as part of this initiative. Additionally, joint research projects will be undertaken in Web3 blockchain, gaming, artificial intelligence (AI), and the metaverse. Partnerships with local universities will provide tailored learning programs. Animoca Brands will provide consulting services on tokenomics and Web3 economics for projects and businesses in the KSA.
What's in it for Saudi Arabia?
According to Dr. Mariam Nouh, KACST's Vice President of Economics of the Future, this collaboration with Animoca Brands aims to transform blockchain technology and innovation by creating a Web3 hub and expanding the Web3 ecosystem within Saudi Arabia. The partnership will leverage Animoca Brands' expertise to drive the adoption and advancement of Web3 and gaming in the KSA.
Who Are These Two Entities?
KACST, as a government entity, fosters scientific research and innovation to promote industrial development in the KSA. Animoca Brands, on the other hand, is a prominent player in the Web3 space, utilizing blockchain technology to empower users with digital property rights and contribute to the development of the open metaverse. Animoca Brands has developed and published a portfolio of products and games, including The Sandbox and PHANTOM GALAXIES.
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