Animoca Brands inks an exclusive deal with KACST

Animoca Brands inks a special deal with King Abdulaziz City for Science and Technology to further the Web3 and gaming space in Saudi Arabia. KACST, as it is popularly known, was established in 1977. It runs as an independent government company involved in encouraging the furthering of science and technology, along with building associations with multiple scientific bodies within the KSA (Kingdom of Saudi Arabia).

As per the understanding, both entities will boost the enhancement of the Web3 and gaming space in Saudi Arabia. They will build a brick-and-mortar structure in Riyadh to push Web3 startups and blockchain technologies. Facilities like training and employment will be offered.

Joint research will be carried out on Web3 blockchain, gaming, AI, and the metaverse. Tie-ups with local universities for obtaining customized learning initiatives will be on the anvil. Animoca brands will be responsible for offering consultancy solutions towards tokenomics and Web3 economics related to projects and businesses in KSA.

All-inclusive labs will be built, exhibiting gaming, technology, and digital inventiveness. Establishing offices will come under the jurisdiction of KACST, whereas Animoca Brands will provide the necessary expertise.

According to the VP of Economics of the Future at KACST, Dr. Mariam Nouh, with the help of Animoca Brands, they intend to change blockchain and innovation by setting up the Web3 hub and enlarging the Web3 ecosystem in Saudi Arabia.

In the words of the Co-Founder and Executive Chairman of Animoca Brands, Yat Siu, the association with KACST will help further the acceptance of the Web3 arena and advance the Web3 and gaming space in the KSA.

KACST is involved in science and technology, backs inventiveness, and furthers scientific research to boost industrial development in the KSA.

Animoca Brands is a top Web3 company that utilizes blockchain to introduce digital property rights to users globally and set up the open metaverse. The company creates and publishes an array of products and games, such as The Sandbox, PHANTOM GALAXIES, and a whole lot of others.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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