Animoca Brands and the Royal Saudi City of Science and Technology (KACST) have united their efforts to support the development of blockchain games and Web3 technologies in the region. They have signed a Memorandum of Understanding that includes the establishment of a physical Web3 center in Riyadh to support local startups and the development of Web3 technologies. The partnership also encompasses joint research in blockchain, gaming, and artificial intelligence (AI), as well as collaboration with local universities to provide educational programs. This initiative aims to accelerate Saudi Arabia's socio-economic development through innovations in digital technologies.

The partnership between Animoca Brands and KACST represents a commitment to creating new opportunities in gaming, immersive experiences, and Web3 technologies. Leveraging the strengths of each organization, this collaboration is aimed at transforming the digital landscape of Saudi Arabia, providing a significant boost to the development of the local Web3 ecosystem and gaming industry.

The establishment of a Web3 Hub in Riyadh will be a key element in supporting startups and technology development in the region. This center will foster innovation and entrepreneurship, offering the necessary resources and knowledge for the development of Web3 projects.

Collaboration with universities and conducting joint research in blockchain, gaming, and AI highlights the importance of education and scientific research in achieving technological progress. These efforts are directed towards preparing a skilled workforce and developing the knowledge needed to support and grow the Web3 ecosystem. This partnership between Animoca Brands and KACST is an important step towards the development of digital innovations and Web3 technologies in Saudi Arabia, opening new horizons for the country's economic and social development.