Adaverse, Venture Fund and Cardano Blockchain accelerator has partnered The Saudi Arabian Ministry of Communications and Information Technology.

As per the press release, the partnership aims to accelerate the development of Web 3 technologies and promote innovation in blockchains in the Kingdom of Saudi Arabia. This collaboration will leverage the Ministry’s leadership in national digital transformation and Adaverse’s expertise in blockchain investments and technology infrastructure. It aims to equip local talent with access to the latest global advancements in this field.

Vincent Li, CEO of Adaverse Saudi Arabia, stated, “We take pride in contributing to Saudi Arabia’s digital transformation by sharing our global expertise and resources. This partnership will help build a strong Web3 community in the Kingdom and drive innovation in blockchain technology.”

The partnership will include training and awareness programs to help local talent gain expertise in Web3 and Blockchain. It will also foster innovation with community meetups and hackathons and provide access to cutting edge technologies to support KSA’s tech ecosystem.

Additionally Adaverse will work with the Minsitry to establish startup accelerators in Web3 sector.

This announcement coincides with the new Web3 alliance that has been formed in KSA . Animoca Brands, SandBox, and Outlier Ventures announced that they have united key Blockchain and digital innovation players towards to goal of driving adoption and Web3 technologies aligning with Saudi Arabia’s Vision 2030.