Animoca Brands moves to next stage with Saudi Neom

Animoca Brands moves to next stage with Saudi Neom

 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.

A new Blockchain infrastructure company sets up in Abu Dhabi UAE

A new Blockchain infrastructure company sets up in Abu Dhabi UAE

Blockdaemon, an institutional-grade blockchain infrastructure company, has expanded its presence in the UAE, setting up an office and establishing an entity in Abu Dhabi under Registration Authority of Abu Dhabi Global Market (ADGM). Prior to that Blockdaemon became of corporate member of the crypto Oasis ecosystem in Dubai.

Blockdaemon is known for their independent blockchain node infrastructure that delivers institutional-grade security and monitoring. They drive the blockchain economy forward by making it easier to deploy nodes and creating scalable enterprise blockchain solutions via APIs, high availability clusters, auto-decentralization and auto-healing of nodes.

The expansion to operate and provide Web3 infrastructure solutions in the UAE will include making available its node and validator infrastructure solutions locally, as well as their self-hosted MPC wallet technology.

“This marks a significant stride for Blockdaemon in bolstering its presence in the UAE and deepening our partnership with local regulators and clients,” said Amor Sexton, COO of Blockdaemon. “With Blockdaemon receiving approval from the Registration Authority of ADGM, we are not only solidifying our foothold in the region as the leading Web3 infrastructure provider but also affirming our commitment to supporting institutions with blockchain infrastructure. This approval underscores our dedication to operating with integrity and trustworthiness.”

Konstantin Richter, CEO and Founder of Blockdaemon commented, “As we continue to expand our operations and deepen our partnerships across the globe, this milestone paves the way for greater collaboration and innovation in the UAE’s vibrant blockchain ecosystem. We are excited about the opportunities ahead and remain steadfast in our mission to empower businesses and organizations with secure and scalable blockchain infrastructure solutions.”

Arvind Ramamurthy, Chief of Market Development at ADGM said, “We congratulate Blockdaemon on receiving their licensing from ADGM to establish their presence in Abu Dhabi. The decision of a prominent institutional-grade blockchain infrastructure company to expand in this region with ADGM underscores the progressive regulatory environment offered by our international financial centre, as well as the significant potential and demand within the blockchain and Web3 sub-cluster and associated services. ADGM has been a pioneer in creating an ecosystem conducive to the growth and success of companies like Blockdaemon, and we eagerly anticipate the opportunities they can unlock within this region.”

Blockdaemon expanded into the Asia-Pacific region in February 2022 and shortly thereafter in March 2022, expanded to the EMEA region.

More and more blockchain infrastructure providers are setting up in the UAE specifically in Abu Dhabi. They include names such as IoTa which recently set up its headquarters in ADGM.