On October 30th, NEOM Investment Fund of Saudi Arabia and Web3 games producer Animoca Brands announced a new agreement to propel Web3 growth within the area. Moreover, as stated in the announcement, Animoca will be collaborating with NEOM to develop Web3 business service capabili...
- Initial rollout will focus on bolstering developing technology in Riyadh and the NEOM area.
- There is a proposed $50M investment in Animoca Brands from the NEOM Investment Fund.
On October 30th, NEOM Investment Fund of Saudi Arabia and Web3 games producer Animoca Brands announced a new agreement to propel Web3 growth within the area.
Technological Epicenter
Furthermore, NEOM in Saudi Arabia is being developed as a “living laboratory” for a potential future civilization. Also, it is planned to be a technological epicenter with cutting-edge connectivity.
The CEO of NEOM Investment Fund, Majid Mufti stated:
“Web3 technology and infrastructure development will not only be an important foundation of NEOM’s tech stack and architecture, but also has potential to revolutionize global industries.”
There is a proposed $50 million investment in Animoca Brands from the NEOM Investment Fund. Also, one aspect of Animoca Brands’ co-founder and executive chairman Yat Siu’s goal for the Web3 ecosystem is “the emergence of a new meta-nation.”
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