Animoca will develop web3 solutions and establish a hub in Saudi Arabia following the partnership with NEOM Investment Fund. Metaverse and blockchain gaming venture capital firm Animoca Brands has entered into a strategic partnership agreement with the NEOM Investment Fund,…
Animoca will develop web3 solutions and establish a hub in Saudi Arabia following the partnership with NEOM Investment Fund.
“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.”
NEOM Investment Fund CEO Majid Mufti
Animoca Brands co-founder Yat Siu says NEOM “could well become the first region to fully harness the power of blockchain.” The firm is planning to establish a web3 hub in the city.
NEOM is a $500 billion valued futuristic smart city, which Saudi Arabia is building in a desert bordering the Red Sea from scratch. A key percentage of the city is expected to be completed by 2030. It is planned that NEOM will include a floating industrial complex, enterprise hubs, tourist areas, and sports venues.