In 2024, Animoca Brands and Saudi Arabian NEOM Investment Fund signs a strategic partnership that included a $50 million convertible notes financing from NEOM into Animoca, today Animoca Brands announce that the next step of the partnership is fast approaching and it includes building a solid web3 infrastructure using innovative technologies.
In the 2024 announcement, as part of the partnership, Animoca Brands would work with NEOM to build Web3 enterprise service capabilities which would be deployed to support technology advancements in Riyadh and the NEOM region.
As per the news at the time, these projects would include a range of Web3 initiatives, including plans to establish a hub within NEOM to nurture the local Web3 ecosystem and bring in extensive capabilities from across Animoca Brands and its subsidiaries, partners, and broad portfolio of investments.
In a recent Linkedin post, Animoca Brands noted that they continue to support NEOM and its commitment to driving regional web3 development.
In 2024, Animoca Brands facilitated the Web3 development of NEOM with dedicated Web3 strategy workshops, and the networking conference “Outer Edge Riyadh” in KSA.
In 20205 the next phase starts which will include building the Web3 infrastructure.
As per the LinkedIn post which quoted Yat Siu as saying, “NEOM is the world’s most ambitious project seeking to use innovation and technology to redefine how we live, work, and play.”
Animoca Brands has invested in startups in KSA including Saudi’s first NFT marketplace platform, Nuqtah.
