Animoca Brands has signed a special agreement with King Abdulaziz City for Science and Technology to advance the Web3 and gaming space in Saudi Arabia. KACST, as it is popularly known, was founded in 1977. It operates as an independent government company involved in promoting scientific and technological advancement while building associations with several scientific institutions within the Kingdom of Saudi Arabia (KSA).
As per the understanding, both companies will facilitate the enhancement of Saudi Arabia’s Web3 and gaming space. They will establish offline structures in Riyadh to drive Web3 startups and blockchain technology. Amenities such as education and employment are provided.
Joint research is conducted on Web3 blockchain, games, AI, metaverse, etc. Partnerships with local universities will be on the anvil to secure tailored study plans. The Animoca brand will be responsible for providing consulting solutions on token economics and Web3 economy relevant to projects and businesses in KSA.
A comprehensive laboratory will be built to showcase gaming, technology and digital creativity. The establishment of the office will fall under the jurisdiction of KACST, and Animoca Brands will provide the necessary expertise.
According to Dr. Mariam Nouh, Vice President of Future Economy at KACST, with the help of Animoca Brands, they plan to transform blockchain and innovation by setting up a Web3 hub in Saudi Arabia and expanding the Web3 ecosystem.
According to Yat Siu, co-founder and chairman of Animoca Brands, the partnership with KACST will help drive adoption of the Web3 sector and advance the Web3 and gaming space in KSA.
KACST promotes scientific research to engage science and technology, support creativity, and promote industrial development in KSA.
Animoca Brands is a leading Web3 company leveraging blockchain to introduce digital property rights to users around the world and establish an open metaverse. The company creates and publishes a variety of products and games, including The Sandbox and PHANTOM GALAXIES.