Saudi Arabia to Host New Web3 Hub in Collaboration with Animoca Brands

Animoca Brands, a leader in digital property rights for gaming and the open metaverse, has revealed its collaboration with the King Abdulaziz City for Science and Technology (KACST) to enhance the Web3 and gaming ecosystems in Saudi Arabia. KACST, established in 1977 as a beacon for science and technology advancement, stands as an independent governmental entity in the Kingdom.

Launching the Web3 Hub

This collaboration heralds the creation of a Web3 Hub in Riyadh, aimed at propelling the growth of Web3 startups and blockchain technologies within the region. Beyond infrastructure, the initiative seeks to bolster socio-economic growth in Saudi Arabia by offering educational, training, and employment opportunities to the local populace.

The partnership is committed to conducting joint research in various fields, including Web3, blockchain, gaming, AI, and the metaverse. Special educational programs will be developed in partnership with local universities. Animoca Brands will contribute its expertise in tokenomics and Web3 economics to benefit regional projects and companies. Together, they will also develop immersive experience labs to exhibit the latest advancements in gaming, technology, and digital innovation. KACST will facilitate these efforts by providing the needed office space for the burgeoning startups within the Web3 and gaming sectors.

Expert Insights and Future Vision

Dr. Mariam Nouh, VP of Economies of the Future at KACST, shared her excitement about the partnership, stating, “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.”

Yat Siu, co-founder and executive chairman of Animoca Brands, reflected on the significance of the collaboration, commenting, “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.”

The strategic partnership between Animoca Brands and KACST is poised to drastically impact the development of the Web3 and gaming sectors in Saudi Arabia. By combining their strengths, both entities aim to drive innovation and growth in the region. With the upcoming opening of the Web3 Hub, this collaboration sets the stage for a new era of digital and technological advancements in the Kingdom.