Animoca Brands has officially entered into a Memorandum of Understanding (aka MOU) with King Abdulaziz City for Science and Technology (KACST) for a partnership focused on advancing the Web3 and gaming ecosystem in Saudi Arabia.
The two are aiming to establish a physical Web3 Hub in Riyadh, which will be dedicated to nurturing startups and blockchain technologies in the region, and will be aligned with the furthering of the Web3 ecosystem and MENA gaming industry in KSA.
Yat Siu, co-founder and executive chairman of Animoca Brands released a statement saying that the new partnership “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.”
“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 in KACST added.
Animoca Brands will provide consultancy in tokenomics and Web3 economics and KACST will provide office space for startup companies as Animoca Brands provides their Web3 expertise.
