In a quest to bolster blockchain gaming and other web3 sectors in Saudi Arabia, Animoca Brands has signed a deal with King Abdulaziz City for Science and Technology (KACST).
KACST is an independent governmental entity, working to advance science and technology in Saudi Arabia.
More particularly, the two have entered a Memorandum of Understanding (MOU) to strategically advance the web3 and gaming ecosystem in the region, including establishing a physical web3 hub located in Riyadh, with the purpose of supporting local web3 startups and technologies.
Moreover, the partnership will involve joint research in blockchain, gaming, and AI, along with new partnerships with local universities to provide educational programs in web3.
More generally, the initiative also aims to enhance Saudi Arabia’s socio-economic development.
KACST VP of Economies of the Future Dr. Mariam Nouh commented, “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.”
“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,” added Animoca Brands co-founder and chairman Yat Siu.
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