King Abdulaziz City for Science and Technology (KACST) and Animoca Brands, the Hong Kong-based company advancing digital property rights for gaming and the open metaverse, yesterday, announced their collaboration to advance the Web3 and gaming ecosystem in the Kingdom of Saudi Arabia (KSA).
TakeAway Points:
- Animoca and KACST announced a partnership to advance Web3 in Saudi Arabia.
- This partnership will involve opening a physical Web3 Hub in Riyadh to support Web3 startups and blockchain technologies in the area.
- The programme aims to promote local talent through employment, training, and educational activities in KSA.
Animoca Partners With KACST
According to a statement from the two, Animoca Brands and KACST will collaborate to strategically drive the growth of the Web3 ecosystem and gaming ecosystem in Saudi Arabia. This will involve opening a physical Web3 Hub in Riyadh to support Web 3 startups and blockchain technologies in the area.
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The programme aims to promote local talent through employment, training, and educational activities, thereby contributing to the socio-economic growth of the Kingdom of Saudi Arabia.
In addition to collaborative research in Web3, blockchain, gaming, artificial intelligence (AI), and the metaverse, the partnership and the Web3 Hub will also establish strategic alliances with nearby colleges to offer customised educational initiatives.
“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,”
said Yat Siu, Co-Founder and Executive Chairman of Animoca Brands.
Partnership Details
Animoca Brands will offer consultancy services in tokenomics and Web3 economics to projects and companies in KSA, and both companies will jointly create immersive experience labs that showcase the latest in gaming, technology, and digital innovation.
KACST, on the other hand, will provide office space to support Web3 and gaming firms’ physical infrastructure needs, and Animoca Brands will contribute its Web3 industry knowledge in this area.
As per the statement, the partnership between KACST and Animoca Brands is a noteworthy achievement in the advancement of Web3 and gaming in Saudi Arabia, as it unites the strengths and resources of both entities to foster growth and innovation.
However, registration for interested parties will shortly begin on the Web3 Hub.
“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,”
said Dr. Mariam Nouh, Vice President of Economies of the Future in KACST.
