Naver partners with Saudi’s NHC for digital twin platform

Naver partners with Saudi’s NHC for digital twin platform

NAVER, South Kore’s largest internet company with investment in Blockchain, is to establish a joint venture with Saudi Arabia’s National Housing Company (NHC), a state-owned company under the Ministry of Municipalities and Housing. The JV will serve as NAVER’s business unit for the Saudi Arabia region, along with NAVER Arabia (tentative name) which will oversee the company’s business in the MENA region.

The JV will operate under NAVER Arabia (tentative name), with the operation and commercialization of the digital twin platform in Saudi Arabia as its core business along with NHC. The JV will also be TEAM NAVER’s first business entity for its technology platform business in the Middle East.

NHC, a key partner of TEAM NAVER in Saudi Arabia, is a state-owned company under the Saudi Arabian Ministry of Municipalities and Housing that is responsible for 70% of real estate transactions in the country. As part of Saudi Arabia’s “Vision 2030” initiative, the company is currently focused on digital transformation such as digital innovation in the real estate sector and smart city development.

Since its establishment in 2016, NHC has been in charge of over 380 projects for real estate development projects including public housing provision, and the value of its real estate portfolio is expected to exceed 60 billion USD (80 trillion KRW) as of the end of 2025. The company has also been selected as the largest real estate developer in the Gulf Cooperation Council (GCC) by the Construction Week Middle East in 2024.

TEAM NAVER and NHC will operate and commercialize the digital twin platform in Saudi Arabia through the JV, while also developing other businesses such as a public monitoring platform for urban areas and a map-enabled super app for public administration.

“TEAM NAVER’s global competitiveness in technology and business has been recognized by various ministries and organizations in Saudi Arabia, and we are excited to further discover business opportunities with different partners in the region,” said Chae Seon-ju, President of ESG and External Affairs at NAVER.

In April 2024 two blockchain platforms, Klaytn backed by Kakao, and UAE based Finschia backed by Naver an affiliate UAE based LINE Tech Plus merged to create a new unified blockchain platform Kaia, which means “and” in Greek, with a market capitalization of $1 billion.

Kakao, the internet giant behind Korea’s most popular messaging app, operates Klaytn, the country’s largest native blockchain network with a market cap of $671 million. It targets enterprise users with a modular network architecture that enables them to build service chains atop its mainnet.

While Naver, South Korea’s leading search engine, is behind Finschia, a blockchain network developed by its Japanese subsidiary, Line. It operates one of Asia’s largest non-fungible token (NFT) marketplaces.

In August 2024, Naver was set to launch its first digital asset wallet, Naver Pay Wallet, for the Korean market. It partnered with Chiliz, a blockchain provider for sports and entertainment, as the inaugural blockchain for the wallet.

UAE Blockchain venture capital firm partners with Landvault for AI metaverse innovations

UAE Blockchain venture capital firm partners with Landvault for AI metaverse innovations

 UAE Blockchain and technology venture capital firm , Masary Capital has partnered with Landvault, a tech company specializing in AI-powered immersive experiences and digital twins for Fortune 500 companies and government organizations.

Masary Capital is led by Mr. Khalil Abdulla of the Wafi Group conglomerate and features an esteemed board, including Meshal Abdullah Bin Hussain, Chief Information Officer at the UAE Ministry of Finance, along with many other industry experts.

Masary Capital aims to accelerate companies by serving as a bridge for innovative enterprises that align with the region’s strategic goals.

Landvault has a portfolio featuring collaborations with the Abu Dhabi Government, Yas Marina Circuit, various Dubai ministries, the Saudi Government, sovereign funds, and private enterprises across the MENA region. The company continues to lead technological advancements in immersive experiences and AI-powered digital twins.

These experiences are leveraged by government entities for a variety of purposes, including marketing, promotion, and internal analytics. They align with the Dubai Metaverse Strategy established by the government of Dubai in 2022, which aims to position Dubai as one of the world’s top 10 metaverse economies and a global hub for the metaverse community.

At a private event in April 2024, Landvault unveiled their new tech stack designed to build immersive experiences. This includes an AI creation tool that accelerates the production of digital environments, a publishing platform that deploys digital twins on the web in minutes, and a comprehensive analytics platform.

“Joining forces with Masary and Mr. Khalil is a great achievement for Landvault and will accelerate our go-to market and ability to drive change in the public and private sector of the MENA region. Having their backing is a great vote of confidence” says Sam Huber, CEO of Landvault.

“We are impressed with Landvault’s commitment to the region and their innovative technology. We’re excited to partner with them to accelerate the rollout of this technology across the region,” says Khalil Abdulla, CEO at Masary Capital.

Saudi Arabia to host Web3 blockchain event Outer Edge

Saudi Arabia to host Web3 blockchain event Outer Edge

Saudi Arabia will be hosting a Web3 Blockchain event called “Outer Edge”. The event will be held in partnership with Animoca Brands, the Blockchain gaming open metaverse company, and King Abdulaziz City for Science and Technology (KAUST), the national labs of the Kingdom. The event will be held on April 23 2024. Outer Edge Riyadh  event is set to bring together some of the biggest names in the blockchain, AI, and gaming ecosystems from all over the world to Riyadh, Saudi Arabia.

Outer Edge, historically based in LA and now expanding to the Middle East, is known for hosting memorable events and presenting invaluable networking opportunities for founders, builders, and venture capitalists in emerging technologies.

The Saudi Arabia tech revolution has already made major strides in developing various industries as the country builds a solid ecosystem for digital entrepreneurship. Saudi Arabia is focusing on enhancing its technology sector in line with the Saudi Vision 2030 plan, as businesses continue to invest in new tech such as AI, blockchain, VR, AR, and the Internet of Things. 

Outer Edge Riyadh, a partnership between Edge of Company and Animoca Brands, presented by King Abdulaziz City for Science and Technology (KACST), comes at a pivotal moment during the growth of the blockchain sphere. The partnership aims to bring together industry leaders, experts, creatives and more to Riyadh’s innovation district, The Garage, a technology hub for local and international startups. KACST’s strategic partnership with Animoca Brands includes plans for the development of a physical Web3 hub in Riyadh to enhance research and development efforts within the fields of Web3, blockchain, gaming, AI, as well as providing bespoke educational programs. 

Mohammad Hadhrawi, general manager, Gaming and Immersive Technologies Institute at KACST, notes, “At KACST’s Gaming and Immersive Technologies Institute, we are dedicated to advancing the frontiers of R&D in gaming and immersive technologies. Our efforts are aligned with the national vision and strategies, aiming to foster an innovative ecosystem that nurtures creativity, technological advancement, and economic diversification. By spearheading projects that leverage web3, AI, and immersive experiences, we aim to impact the global technology landscape and equip our nation with the skills and opportunities to excel in these fields. Our commitment is to deliver tangible outcomes that contribute to the Kingdom’s position as a leader in the economies of the future (a key priority area for the kingdom), ensuring a sustainable and prosperous future for all.” 

Joshua Kriger, Outer Edge co-founder and co-host of Edge of NFT and Edge of AI podcasts, stated, “When we started Outer Edge LA, the intent was always to catalyze innovation globally. We are thrilled to take the concept of co-creation, connection and community abroad to the Kingdom of Saudi Arabia and unite regional and global leaders in Web3, AI, and gaming. Our unique format cultivates long-term collaboration opportunities at the intersection of culture, entertainment, and technology.”

Outer Edge, one of the pioneer events in the world of Web3, tech, culture, and entertainment, today announced a partnership with Animoca Brands, the company advancing digital property rights for gaming and the open metaverse, and King Abdulaziz City for Science and Technology (KACST), the national labs of the Kingdom, to debut Outer Edge Riyadh on 23 April. The dynamic event is set to bring together some of the biggest names in the blockchain, AI, and gaming ecosystems from all over the world to Riyadh, Saudi Arabia.

Outer Edge, historically based in LA and now expanding to the Middle East, is known for hosting memorable events and presenting invaluable networking opportunities for founders, builders, and venture capitalists in emerging technologies.

The Saudi Arabia tech revolution has already made major strides in developing various industries as the country builds a solid ecosystem for digital entrepreneurship. Saudi Arabia is focusing on enhancing its technology sector in line with the Saudi Vision 2030 plan, as businesses continue to invest in new tech such as AI, blockchain, VR, AR, and the Internet of Things.

Outer Edge Riyadh, a partnership between Edge of Company and Animoca Brands, presented by King Abdulaziz City for Science and Technology (KACST), comes at a pivotal moment during the growth of the blockchain sphere. The partnership aims to bring together industry leaders, experts, creatives and more to Riyadh’s innovation district, The Garage, a technology hub for local and international startups. KACST’s strategic partnership with Animoca Brands includes plans for the development of a physical Web3 hub in Riyadh to enhance research and development efforts within the fields of Web3, blockchain, gaming, AI, as well as providing bespoke educational programs.

Mohammad Hadhrawi, general manager, Gaming and Immersive Technologies Institute at KACST, notes: “At KACST’s Gaming and Immersive Technologies Institute, we are dedicated to advancing the frontiers of R&D in gaming and immersive technologies. Our efforts are aligned with the national vision and strategies, aiming to foster an innovative ecosystem that nurtures creativity, technological advancement, and economic diversification. By spearheading projects that leverage web3, AI, and immersive experiences, we aim to impact the global technology landscape and equip our nation with the skills and opportunities to excel in these fields. Our commitment is to deliver tangible outcomes that contribute to the Kingdom’s position as a leader in the economies of the future (a key priority area for the kingdom), ensuring a sustainable and prosperous future for all.”

Joshua Kriger, Outer Edge co-founder and co-host of Edge of NFT and Edge of AI podcasts, said: “When we started Outer Edge LA, the intent was always to catalyze innovation globally. We are thrilled to take the concept of co-creation, connection and community abroad to the Kingdom of Saudi Arabia and unite regional and global leaders in Web3, AI, and gaming. Our unique format cultivates long-term collaboration opportunities at the intersection of culture, entertainment, and technology.”

Taking place on 23 April at The Garage in the center of the city, Outer Edge Riyadh will bring together industry leaders, creatives, visionaries, entrepreneurs, and investors for an experience that threads together education and entertainment, to explore beyond the implications of decentralized, Blockchain, Web3 and AI technology on society. Topics will include smart cities, gaming, esports, art, culture and more.

Notable speakers at Outer Edge Riyadh will include Yat Siu, co-founder and executive chairman of Animoca Brands; Calvin Zhou, co-founder of Shrapnel,a venture backed UGC; Salwa Radwi, founder of ‘Nuqtah’, the first Saudi NFT Marketplace; Vatom founder and CEO Eric Pulier; Amanda Cassat, founder and CEO of Serotonin; Cole Damon, CEO of AG Esports Global; Yasser N Al Obaidan, chairman of Jawraa; and Sebastien Borget, co-founder and COO of The Sandbox.

Yat Siu, the co-founder and executive chairman of Animoca Brands, added, “Through our partnership with Outer Edge Riyadh we are honoured to help support the MENA region’s progress toward fully harnessing the power of Web3 and blockchain. Global leaders at Outer Edge Riyadh will gather to engage in spirited discussions, forge valuable partnerships, create new opportunities, and mobilize on a variety of topics ranging from revolutionizing smart cities to redefining finance and entertainment.”

Recently  Co-Founder of the Satoshi Roundtable retreat, and managing director of Chainstone Labs, Bruce Fenton, stated that he is heading to Saudi Arabia to bring Blockchain and Bitcoin education and investment into the country. ChainStone Labs is a Stealth mode financial tech company focused on tokenization of securities and digital assets backed by hard assets.

While Animoca Brands continues to invest heavily in the region.

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WEMIX Play onboards UAE metaverse developers

WEMIX Play onboards UAE metaverse developers

Wemade has signed WEMIX PLAY onboarding contracts with INFTY ART FZ-LLC and FYE Software FZ-LLC, developers based in the United Arab Emirates.

INFTY ART is set to introduce ArToys, a metaverse platform that sells character toy NFTs. At ArToys, collectible NFTs using character IPs and utility NFTs used in games will be sold. These utility NFTs will be applicable within games later on.

FYE Software is developing Strifest, an arena shooting game based on Unreal Engine 5. Players participate in combat to gain abilities and destroy the opponent’s base. They can also enjoy various content such as 4 vs. 4 team battles, guilds, and tournaments.

Wemade has established a local office in the United Arab Emirates and is expanding its blockchain business in the Middle East by consecutively signing onboarding contracts with various developers.

Wemade onboarded Whampoa Digital as an ecosystem partner for its $100 million Web3 Fund in UAE. Wemade also partnered with Whampoa Digital for its WEMIX Play center in Dubai International Financial Center Innovation Hub ( DIFC Innovation Hub).

Animoca brands makes strategic investment in UAE Blockchain gaming startup

Animoca brands makes strategic investment in UAE Blockchain gaming startup

Animoca brands, which offers digital property rights for games and open metaverse, continues to invest in gaming and Web3 start-ups in the MENA region. Its latest investment is with UAE based Param Labs, a blockchain enabled gaming infrastructure provider.

As per the press release, the investment will strengthen the two companies’ existing partnership to accelerate the development of Param Labs’ scalable blockchain enabled Web3 infrastructure and expand its ecosystem, which boasts over 50 IP partnerships with notable brands such as GameStop, Pudgy Penguins, Mocaverse, and more.

Param Labs is focused on developing video games and infrastructure to power the next generation of gaming. Kiraverse, the flagship Web3 multiplayer third-person shooter game developed by Param Labs, offers players the opportunity to compete, earn, and trade digital assets like characters and skins. Kiraverse is designed to promote digital ownership and user-generated value, leveraging Param Labs’ innovative technology.

Param Labs is also actively constructing technology to equip developers with the necessary tools they need to effortlessly elevate their users’ blockchain based experiences, ensuring seamless interaction for gamers across the globe. Additionally, its Pixel-to-Poly service enables users to transform 2D images into 3D playable in-game characters, compatible with Kiraverse as well as popular Web2 titles including Grand Theft Auto V and Fortnite.

With a strong focus on esports, Param Labs has also partnered with major esports organisations worldwide to promote Web3 ecosystem growth around gaming, and is gearing up for a token launch that will serve as an ecosystem token for its upcoming games and infrastructure.

Yat Siu, co-founder and executive chairman of Animoca Brands, said, “We’re excited to invest in and partner with Param Labs to drive Web3 development in MENA and advance the cause of digital property rights in the open metaverse. Both Animoca Brands and Param Labs share a vision to redefine the gaming landscape and the open metaverse by leveraging the power of shared network effects.”

Anthony Anderson, founder and CEO of Param Labs and Kiraverse, emphasized the importance of the strategic investment and partnership with Animoca Brands: “This investment marks a significant milestone for Param Labs’ ecosystem development and the broader Web3 gaming landscape. Our vision is aligned with that of Animoca Brands and we’re thrilled to collaborate on the creation of valuable products at the forefront of gaming’s innovative shift to digital ownership. With our new funding, we’ll continue to invest in building out and scaling our current products while also advancing our ecosystem initiatives and fostering community involvement.”

This announcement comes after Animoca Brands just signed an agreement with KACST in Saudi Arabia to grow Web3 development in the country.

KACST and Animoca Brands to spur blockchain Web3 development in Saudi Arabia

KACST and Animoca Brands to spur blockchain Web3 development in Saudi Arabia

Saudi Arabia’s King Abdulaziz City for Science and Technology (KACST) during the LEAP 2024 event, signed an agreement with Animoca Brands to propel Blockchain and Web3 system in KSA. The agreement aims to facilitate the entrance of companies and institutions into the Web3 and blockchain ecosystem.

As per the agreement both entities will work to develop joint research and development projects in Blockchain applications, games, AI and metaverse development.

KACST has signed 13 partnerships at the event so far with one being a partnership with the Global Semiconductor Group focusing on the design of electronic chips.

KACST also signed a strategic partnership with Elm Company, to enhance cooperation in the field of future cities’ technologies and emerging technologies, in addition to its partnership with Tulip Technologies Company to enhance cooperation in research and development, and training in the field of robotics, AI, and automation.

Animoca brands has been expanding its presence in the MENA region, including KSA. Animoca Brands was one of the investors in Saudi’s first NFT marketplace platform, Nuqtah. Nuqtah raised a seed round of millions of dollars from Blockchain platform Polygon and Animoca Brands.

In addition, in October 2023, Metaverse creator Animoca Brands Corporation Limited announced that it signed a Memorandum of Understanding (“Strategic Partnership”) with NEOM Company (“NEOM”) to drive regional Web3 initiatives in line with the Saudi Vision 2030 plan. This came after NEOM investment fund signed a term sheet for $50 million investment in Animoca Brands.

In the UAE, Animoca Brands, early investors in The Sandbox, invested in UAE gaming startup Farcana, to advance digital property rights for gaming and the metaverse fueling Farcana’s beta launch and development within the Bitcoin Ecosystem with Free Mint Bitcoin ordinals.

$1 billion Web3 gaming fund in UAE with Creta and Lloyd Investment

$1 billion Web3 gaming fund in UAE with Creta and Lloyd Investment

Creta, a Web3 metaverse gaming platform, has partnered with Lloyd Investment Group, a global private investment fund headquartered in Dubai, UAE in collaboration with Thomas Vu, legendary producer of League of Legends and Emmy Awards winner for Arcane, and Sangyoun Lee, CEO of Diverse, the development company of Creta to launch a $1 billion fund.

The partnership will establish a new fund, currently valued at $1 billion, aimed at propelling the growth of the Web3 gaming industry across the MENA region.

Lloyd Investment Group, known for its focus on energy, infrastructure, technology, and real estate sectors, recognizes the potential within Creta and is committed to leading the market across the MENA region in the entertainment and gaming sector.

The newly established fund will provide grants to emerging developers, enabling them to bring their game concepts to life. It will offer creative developers and startup studios the opportunity to access funding for the development of innovative game ideas, ultimately contributing to the success of the CRETA Platform. The launch of this USD$1 billion Fund underscores the growing importance of the Web 3.0 gaming industry and its potential to shape future social interactions, leisure activities, and work dynamics on the CRETA Platform.

CRETA’s ultimate goal is to unite a coalition of top-tier developers, creators, and producers, inviting them to contribute their high-quality creations to the platform. With a cutting-edge gaming and entertainment platform, Creta aims to lead the next generation of game and metaverse content industries.

The new fund aims to expand the Creta metaverse by developing content and cultivating a pool of skilled developers.

Creta, headquartered in the UAE with additional offices in Japan and Armenia, is spearheaded by Diverse, a Korean metaverse game developer renowned for its high-performance game engines and advanced graphics technology. Leveraging Locus Chain, a robust public blockchain, Creta offers a super-sized multiverse where multiple metaverses can seamlessly merge and expand, boasting photo-realistic visual quality.

Creta is a Web3-based multiverse gaming platform headquartered in Dubai, UAE, with a team of developers, publishers, and blockchain experts who have made a name for themselves in the global gaming industry. These include Ray Nakazato, a respected producer in the Japanese and global gaming industry, Alexander Harutyunyan, former CEO of European game publisher INNOVA, and CCR’s Seokho Yoon, who developed Korea’s national game Fortress. The partnership with Okamoto, the legendary game designer behind Street Fighter 2, Resident Evil, and Monster Strike, and Thomas Vu, producer of League of Legends and Emmy Award winner for Arcane, is expected to result in a world-class lineup of Web3 game titles.

Founder of Ethereum, Vitalik Buterin in UAE

Founder of Ethereum, Vitalik Buterin in UAE

In a very interesting tweet on the X platform, RAK DAO ( Ras Al Khaimah’s Digital Asset Oasis) free zone welcomed the founder and creator of the Ethereum Blockchain, Vitalik Buterin.

In the tweet, RAK DAO states,” At RAK DAO, our fundamental belief in the transformative power of community has played a pivotal role in shaping our ecosystem. Our commitment to fostering innovation through collaboration recently materialized in a significant event, graced by the presence of His Highness Sheikh Saud bin Saqr Al Qasimi, UAE Supreme Council Member and Ruler of Ras Al Khaimah, alongside Vitalik Buterin, the Co-Founder of Ethereum, here in Ras Al Khaimah. This gathering reaffirmed our ongoing dedication to providing a platform where innovative ideas flourish, collaborations thrive, and the spirit of progress prevails. “

In February 2023, the Government of Ras Al Khaimah (RAK) announced that it would be launching the RAK Digital Assets Oasis free zone dedicated to digital and virtual asset companies for non-regulated entities.

This meant that the UAE would now have two crypto Blockchain Oases, one in DMCC for regulated blockchain and crypto entities and one in RAK for soft regulated entities. As per the announcement RAK DAO was supposed to launch in Q2 of 2023, but its official launch happened in October 2023.

Ras Al Khaimah Digital Assets Oasis (RAK DAO), marked the inception of a new era in digital evolution and Web3 collaboration within Ras Al Khaimah. Businesses dealing with digital assets, including cryptocurrencies, could operate under fewer regulatory restrictions.RAK Digital Assets Oasis, is the first common law and specialized free zone exclusively dedicated to companies involved in digital and virtual assets.

Since then, RAK DAO has been setting up partnerships as it entices blockchain, Web3, metaverse, and crypto companies to set up base in the Oasis. It partnered with The HBAR Foundation having signed a Memorandum of Understanding (MOU) with them. According to the MOU, The HBAR Foundation would support RAK DAO ecosystem members to leverage the power of blockchain and build economies and applications on Hedera, the most used enterprise-grade public network.

In an interview with Bloomberg News, Trust Wallet, self-custody crypto wallet, majority owned by the former CEO of Binance announced its operations in the UAE both in RAKDAO (Digital assets Oasis) free zone in Ras Al Khaimah and in ADGM in Abu Dhabi.

Vitalik’s visit comes after he released Ethereum’s roadmap for 2024 which will focus on scalability, security and sustainability improvements.

Ethereum co-founder Vitalik Buterin announced the plan on social media on Dec. 31, outlining several key initiatives for the platform’s development. ‘The Surge,’ a crucial component of Ethereum’s roadmap, aims to increase network scalability through data sharding. By dividing the blockchain into smaller parts, Ethereum intends to boost its transaction processing capabilities and reduce costs, addressing one of the most pressing issues faced by blockchain technologies today.

This development is expected to bring Ethereum closer to achieving its goal of processing over 100,000 transactions per second, as noted by Buterin in recent statements

Could this visit be another partnership in the making? Is the Ethereum founder finally interested in the UAE and Middle East?

UAE Mada Capital partners for growth fund for metaverse gaming platform

UAE Mada Capital partners for growth fund for metaverse gaming platform

UAE based MADA Capital, a private investment fund has partnered with Web3 metaverse gaming platform Creta in its ecosystem growth fund.

As per the news release, Mada Capital actively participated in the fund at an early stage, being deeply impressed by Creta’s vision and technological prowess, which outshine competitors.

Creta, alongside Mada Capital, aim to  collaboratively lead the advancement of the web3 and gaming metaverse industries in the global market. Together, they aim to grow the fund, discover and support outstanding producers and content, and expand Creta’s ecosystem by fostering cooperation and nurturing technology.

The ultimate goal of CRETA is to form a coalition of world-class developers, creators, and producers, where numerous creators join and contribute their high-level creations. The company is building a new comprehensive gaming entertainment platform that will lead the next generation game/metaverse content industry.

The Creta Growth Fund aims to accomplish this by expanding the Creta metaverse in several ways, including the creation of content and a pool of talented developers. In doing so, it will bring a large number of talented Web3 developers and content into the Creta ecosystem. Numerous game developers, creators, and producers that the Creta Growth Fund will identify and collaborate with will not only increase the content lineup but will also allow Creta to go beyond the expectations of numerous game fans and creators early on. This will create synergies in PR, marketing, and community outreach that far exceed the size of the fund. As a result, as the ecosystem grows, the number of creators will grow, and their content output will further circulate and expand the Creta ecosystem.

Following the recent agreement, MADA Capital has committed to actively participate in the fund raising process for the Creta Growth Fund to include multi-billion dollar investments.

With big names like gaming legend Yoshiki Okamoto and genius producer Thomas Vu on board and with many more influential developers and producers joining, the launch of the Growth Fund is expected to accelerate the rapid expansion of Creta’s content and developer partnerships. The fund will also accelerate the acquisition of AAA titles, and catalyze the rapid growth of the ultimate Creta ecosystem, which is an ever-expanding, ever-circulating collection of worlds, multiverses, games, creator tools, and community SuperClub.

Creta is a global Web3 metaverse gaming platform headquartered in the UAE with offices in Japan and Armenia. The development of the Creta platform is led by Diverse, a Korean metaverse game developer specializing in high-performance game engines and excellent graphics technology.

The Web3-based metaverse gaming platform uses Locus Chain, public blockchain, and unlike traditional metaverses, it implements a super-sized multiverse where numerous metaverses can be combined and expanded with photo-realistic visual quality. In particular, Creta can significantly reduce infrastructure costs using the high-performance blockchain mainnet Locus Chain to replace most of the role of servers in online games.

Salah Alwaheb, Chairman of MADA Capital, said: “We are delighted to partner with Creta as it grows to become the dominant player in the next generation web3 gaming/metaverse platform market. The Creta Growth Fund will be backed by MADA Capital’s large funds, as well as royal families and high net-worth individuals from the Middle East.”

Metaverse platform The Sandbox and its KSA partner Sandsoft collaborate with Saudi NFT platform Nuqtah for decentralized gaming in MENA

Metaverse platform The Sandbox and its KSA partner Sandsoft collaborate with Saudi NFT platform Nuqtah for decentralized gaming in MENA

Metaverse gaming platform Sandbox and its Saudi partner SandSoft, has partnered with KSA’s first regulated NFT platform Nuqtah to grow decentralized gaming in KSA and MENA.

As per the press release, the partnership will support the emergence of a world-class Web3 gaming ecosystem in Saudi Arabia. The partnership with Nuqtah will focus on creating exciting experiences that align with the unique tastes and preferences of Saudi Arabian gamers.

To kickstart this initiative, Nuqtah will launch a Design Contest using VoxEdit, the 3D editor of The Sandbox, for local creators in the region in early 2024. Winning creations will be featured on Nuqtah’s NFT marketplace. The Sandbox, Sandsoft and Nuqtah will also work jointly to enable creators to build experiences in The Sandbox metaverse that are specifically tailored to the Saudi Arabian region, while Nuqtah will list land and avatars from The Sandbox on its NFT marketplace.

Sebastien Borget, the COO and Co-founder of The Sandbox, commented, “We’re pursuing our journey of innovation and growth in the Saudi region following our recent partnership announcement with Sandsoft. Together with pioneers such as Nuqtah, we’ll collaborate to attract more local creators from Saudi Arabia into our user-generated content platform and enable them to monetize their digital assets creations on Nuqtah’s platform.”

Salwa Radwi, the CEO of Nuqtah, added, “The partnership between The Sandbox, Sandsoft and Nuqtah is an exciting development for the decentralized gaming community. By collaboratively building local experiences, focusing on education, and attracting regional audiences, our aim is to create a vibrant and inclusive ecosystem that empowers creators and gamers. Launching a Design Contest with VoxEdit is a joint effort to empower the Saudi creators community in the metaverse.”

David Fernandez, the CEO of Sandsoft, explained “At Sandsoft, our commitment has always been to uplift local talent, drive education, and responsibly promote emerging technologies. This partnership will spotlight emerging regional talent and create immersive local content for The Sandbox metaverse that inspires a new generation of creators. It’s a significant milestone in building a boundary-breaking metaverse community in the MENA region.”

The Sandbox, Sandsoft, and Nuqtah have committed to empowering creators, fostering inclusivity in the blockchain ecosystem, and driving educational initiatives for a passionate metaverse community. This marks the beginning of a strategic partnership paving the way for a joint venture to expand The Sandbox ecosystem across KSA, GCC, and MENA, shaping the future of decentralized gaming in Saudi Arabia.