SandBox metaverse expands operations in Saudi with SandSoft collaboration

SandBox metaverse expands operations in Saudi with SandSoft collaboration

The Sandbox metaverse has announced further expansion into Saudi Arabia through a partnership with SandSoft, a Saudi based game developer, publishers, and investor powered by AAA talent.

Sandsoft will be a key partner in The Sandbox’s expansion into Saudi Arabia and the Middle East and will also be a driver in attracting local talent in the video game sector and growing education and job opportunities within the region.

The collaboration aims at building a team of Web3 gaming experts to create partnerships with local public and private industry actors, entertainment, IPs & Brands and celebrities to explore opportunities in gamified social experiences in The Sandbox, and to empower local creative talent by educating and onboarding developers and artists into its ecosystem.

“We’re excited to collaborate with Sandsoft in bringing new creators to contribute towards the open Metaverse and develop together a virtual neighborhood on our map. This partnership will allow brands and creators across Saudi Arabia and the Middle East to discover the creative opportunities The Sandbox provides,” said Sebastien Borget, COO and co-founder of The Sandbox. “It will also enrich The Sandbox’s global ecosystem with Saudi Arabia’s rich culture and history.”

“The Sandbox has great potential for game developers, creatives, brands and consumers from the Middle East and North Africa,” said David Fernandez, CEO of Sandsoft. “We’re pleased to announce this collaboration, which will drive opportunities for vibrant and diverse communities in Saudi Arabia and beyond, expanding on Sandsoft’s existing initiatives to nurture talent in the local gaming ecosystem.”

With a diverse global team of more than 60 people, Sandsoft is on a trajectory to become a leading mobile-first gaming powerhouse. Sandsoft’s ‘Press Start’ internship program aims to provide opportunities for talented young people in Saudi Arabia to enhance their game development skills under the supervision of leading games industry figures including VP Studio Yahsir Qureshi (formerly of EA, Zynga) and CTO Ahmed Sharif (previously at Meta, Sony, EA).

Indian Pyse utilizing Polygon Blockchain expands to UAE with EV and Solar green tokens

Indian Pyse utilizing Polygon Blockchain expands to UAE with EV and Solar green tokens

Indian headquartered Pyse which is utilizing Polygon blockchain to tokenize its green assets has announced its expansion into the UAE where it will tokenize EV and Solar projects with green tokens. Their web3 debut will feature an exciting EV leasing deal for some of Dubai’s top-tier 3PL companies.

According to Pyse press release, launching initially in India with a formidable investor community of 7,000+, Pyse has championed investments in transformative sustainability projects, including renewable energy, EVs, and water recycling. These investments have allowed individuals to offset their environmental footprints while realizing tangible financial returns.

“Many perceived green initiatives as either prohibitively expensive or purely philanthropic,” says Kaustubh, Co-Founder at Pyse. “At Pyse, we’re bridging the gap between sustainability and profitability. Historically, green assets – a sector where sovereign funds and HNIs thrived – were exclusive. We’re opening access to this market, enabling anyone to participate in a market that helps our planet and your wallet!

Pyse successfully built assets worth over $7 million, primarily for highly-regarded entities in India and now the company is setting up its operational base in Dubai, marking its maiden venture outside India and into the UAE.

As per the release this foray coincides with their expansion to web3, enabling tokenization of assets across India and the GCC, starting with the UAE. Pyse is primed to list an array of promising EV and Solar projects in prime regions like Dubai, Abu Dhabi, and Ras Al Khaimah. Their web3 debut will feature an exciting EV leasing deal for some of Dubai’s top-tier 3PL companies.

“By harnessing the latent potential of real-world asset tokenization, Pyse is leading the charge by offering greater accessibility to transparent and lucrative green investments,” said Sanket Shah, Head of Growth at Polygon Labs.” Polygon Labs has always strived toward sustainability via its environmentally conscious approach to blockchain development, which is why the Polygon protocol is already carbon-neutral and has committed to becoming carbon-negative in the foreseeable future. This is why Polygon is a perfect fit for eco-focused platforms like Pyse, and we are excited to help them power a greener future on-chain.”

The forecast for the tokenized real-world asset market is promising. Expected to catapult from US$310 billion in 2022 to a staggering US$16.1 trillion by 2030, green assets are predicted to constitute over 20% of all on-chain listings.

As Pyse charts its ambitious roadmap for the near future, the target is clear: catalyze the development of green assets worth over $40 million across the GCC and India while neutralizing an impressive 60 million tons of CO2 by 2024.

UAE Enjinstarter launches AYA Web3 Launchpad to tackle climate challenges

UAE Enjinstarter launches AYA Web3 Launchpad to tackle climate challenges

UAE Enjinstarter launched in 2021 as a Launchpad, incubator, crowd funding, and advisory platform for Web3 metaverse, gaming, entertainment and impact and sustainable projects has announced the launch of AYA, ( means miracle in Arabic) dedicated to empowering innovators to tackle climate challenges.

“MENA is at the forefront of climate change, with temperatures expected to rise by 2.5 degrees by 2050. The UAE is emerging as a global leader in sustainability and Web3, attracting builders, investors, and climate warriors,” says Prakash Somosundram, our CEO.

With a focus on areas like reforestation, mangrove conservation, and sustainable agriculture, AYA aims to bridge the climate financing gap, offering a platform for high-impact startups to access innovative technologies, raise funds, and leverage tokenized carbon credits.

At the beginning of 2023, Enjinstarter appointed Vasseh Ahmed as the new Managing Director to lead the Web3 efforts in the MENA region. Vasseh spoke with LaraontheBlock discussing Enjinstarter’s plans to help companies reach their Web3 ambitions while positioning Enjinstarter as the go to provider for impact and sustainability projects.

In the interview Ahmed states, “Web3 has a major role to play in addressing the climate crisis. Carbon credits, in particular, can benefit from Web3’s underlying technology to increase transparency and accessibility. We want to support projects that are looking for ways to shift incentives away from exploitation and toward preservation and regeneration.”

In May 2023 EnjinStarter MENA, a web3 Launchpad and incubator, became the first Launchpad globally to receive initial approval by Dubai’s virtual asset regulatory authority.

UAE based Solarix Ventures is seeking to invest in Web3 technology entities and will be participatiog at the Abu Dhabi Family office Summit on the 23rd of November 2023.

Global Blockchain Congress is back to Dubai in December 2023

Global Blockchain Congress is back to Dubai in December 2023

After a very successful first European Edition Global Blockchain Congress, Agora Group is coming back to Dubai for its 12th GBC on December 11 and 12, 2023!

The Global Blockchain Congress leverages the experience gained through the hosting of the first 11 editions of the event in Dubai and the international editions in Vietnam and the UK to ensure maximum return on investment for all our sponsors. The previous editions of the Global Blockchain Congress were a tremendous success and we were able to host 1,500+ investors and 300+ blockchain startups and were able to raise millions in funds for our participating projects

The theme of this edition is: “Will the Next Bull Market Be Different?”
Topics of the Congress:
• Land of Decentralized Milk and Honey? Why Crypto
• Companies Are Warming to the United Arab Emirates.
• Digital Assets Outlook 2024.
• Web3 Gaming and the Path to Open Metaverse.
• DeFI, CeFi and ReFi – What’s Next?
• Blockchain Marketing: Shaking Up the Game with Trending Strategies

The event is a closed-door, exclusive congress that can be attended by invitation only where the format of the event is focused on pre-arranged one-on-one meetings between projects and investors.
Agora will be hosting more than 150 Investors, 25 Projects, 60 A-list Speakers & 30 Media Partners from all over the world.

Learn more about the event: gbc-uae.com

Register here: bit.ly/12th-GBC

The Hashgraph Association partners with Dar Blockchain to develop Web3 Ecosystem in Africa

The Hashgraph Association partners with Dar Blockchain to develop Web3 Ecosystem in Africa

The Hashgraph Association, the non-profit organization accelerating the broad adoption of the Hedera network globally, has partnered with Dar Blockchain to nurture projects, facilitate growth, and profoundly shape the MENA technology landscape. The partnership focuses on the education and nurturing of Web3 talent within the region through facilitating meetups, hackathons, and university groups, as well as publishing a monthly podcast. Through their focus on Web3 talent, The Hashgraph Association and Dar Blockchain will strive to advance innovation within the region, furthering the expansion of Distributed Ledger Technology (DLT) and blockchain across the globe.

Together, Dar Blockchain and The Hashgraph Association will work to provide insight into blockchain ecosystems, as well as promote the Hedera network, the most innovative, sustainable, enterprise-grade public ledger for the decentralized economy. To foster curiosity and capabilities within the MENA region, Dar Blockchain and The Hashgraph Association are partnering to host four hackathons, starting in October 2023.

These events are part of a broader strategy that includes community-building activities and a sourcing phase for an upcoming incubation program tailored for the North African community. This incubation program, to be announced soon, will further support and nurture promising projects emerging from these hackathons. In addition to the hackathons, the collaboration will offer bespoke training sessions, fueling the growth of communities and enterprises, while showcasing the endless possibilities of Web3.

Mohamed Mnif and Jaafar Saied the Co-founders of Dar Blockchain, said: “At Dar Blockchain, our foundation is built on the belief that education is the cornerstone of innovation. We were established with a clear vision: to support and nurture local talents while forging a vital connection between our local Web3 ecosystem and the global blockchain landscape. By providing training sessions that dive into the Hedera Network, and setting up chapters in local universities to connect students from different backgrounds, Dar Blockchain and The Hashgraph Association will lay the foundation for the true realization of DLT. This partnership underscores our commitment to empowering the next generation of innovators across the MENA region, equipping them with the skills and knowledge to drive the widespread adoption of Web3 technologies on a global scale.”

Recently, the MENA region has been a frontrunner for Web3 growth and innovation. In October 2022, it was announced that the region was home to the world’s fastest-growing cryptocurrency markets. In August 2023, the Dubai AI and Web 3.0 Campus committed to cutting license fees of Web3 and AI firms by 90% in an effort to encourage the move of companies and organizations to the city. 

Kamal Youssefi, President of The Hashgraph Association, said: “The Hashgraph Association’s partnership with Dar Blockchain will accelerate the mass adoption of DLT in the MENA region. With the favorable outlook on crypto in the region, we wish to support this growth and ensure its continued upward momentum. It is a result of this openness to Web3 that we are partnering with Dar Blockchain and committing to advance the MENA Web3 industry.”

With each event and initiative, Dar Blockchain and The Hashgraph Association hope to provide a starting point for those interested in the world of Web3. By establishing ways to support Web3 talent in MENA, The Hashgraph Association and Dar Blockchain will further advance MENA’s blockchain boom and its position as a leader in the field. More details about the collaboration can be found at: Darblockchain.io

UAE Ghaf Labs partners with blockchain Sui Foundation

UAE Ghaf Labs partners with blockchain Sui Foundation

UAE based Ghaf Labs, a boutique consultancy and advisory firm specializing in web3 ventures partners with Sui Foundation, a Blockchain Foundation that supports the growth and proliferation of the Sui blockchain protocol (“Sui”) and associated ecosystem.

Sui is a Layer 1 blockchain and smart contract platform designed from the bottom up to make digital asset ownership fast, private, secure, and accessible to everyone.

This strategic alliance is aimed at driving Sui Foundation’s expansion within the UAE and the MENA region, fostering the growth of web3 adoption.

Established in 2019, Ghaf Capital Partners, a private investment firm, has solidified its position as a pioneering player in the web3 investment space, boasting an impressive portfolio of 75 portfolio companies. The team’s extensive business background and strong web2 exposure have uniquely positioned them to navigate the dynamic landscapes of both traditional and blockchain-based industries.

In response to the growing demand from companies seeking exposure in the MENA region, Ghaf Capital introduced Ghaf Labs, a boutique advisory and consultancy service dedicated to web3 ventures. The Labs’ philosophy is centered on providing personalized attention to a select number of clients each year, ensuring that their unique needs and goals are met with utmost precision and care.

As part of this groundbreaking partnership, Sui Foundation will be supported holistically through Ghaf’s expertise and market insights. With ambitious plans to expand its ecosystem in the UAE, Sui Foundation aims to tap into the region through a series of direct objectives, such as university partnerships, discussions with regulators, organizing regional hackathons and supporting local web3 projects.

Sui Foundation shall kick off its presence in the region by participating in some of the most prominent web3 summits in the UAE for Q4 2023, such as, Future Blockchain Summit, World Blockchain Summit and Global Blockchain Congress.

Sui Foundation will also host a monthly meet up in Dubai called “Sui Connect” which will act as an enabler for community building while fostering local ecosystem stimulation.

“We are delighted to partner with Sui Foundation on their journey to become the leading choice for web3 partnerships,” said Sheikh Al Mualla bin Ahmed Al Mualla, Co-founder of Ghaf Labs. “Their team’s commitment to excellence and groundbreaking innovations aligns perfectly with our vision of fostering the growth of web3 technologies in the MENA region,” Said Feras Al Sadek, Co-founder of Ghaf Labs.

Greg Siourounis, Managing Director at Sui Foundation, also expressed his enthusiasm about the partnership, saying, “Together with Ghaf Labs, we are poised to ignite an era of transformative advancements in web3 technologies in the MENA region and beyond, bringing Sui’s state-of-the-art blockchain-based technologies to bear addressing real world challenges that have not been solved by traditional centralized networks. We believe our shared vision will pave the way for building a global decentralized web3 ecosystem based on the most advanced technologies and inclusive of all people.”

UAE Deca4 partners with Hedera powered HashPack to bring Web3 to the MENA sports industry

UAE Deca4 partners with Hedera powered HashPack to bring Web3 to the MENA sports industry

UAE based Deca4, a specialised blockchain consultancy studio, and HashPack, a non custodial wallet built on Hedera Hashgraph DLT (Distributed Ledger Technology) platform have partnered together to bring Sphera World, which is leveraging the largest football and sports fans community in the Arab world with the latest technology and trends of Web3 NFTs, and Blockchain, into the world of non custodial wallets and the Hedera network.

Sphera world is powered by the largest sports media website in the Middle East, Kooora.com, and is backed by the Hashgraph Association. Sphera World is also incubated and managed by UAE Deca4.

May Chan, Co-Founder, and CEO of Hashpack stated, “This partnership is a monumental step towards our shared vision of expanding the reach of Web3 technology and bridging the gap between traditional Web2 users and the progressive Web3 ecosystem.”

She adds, “At HashPack, it has always been our mission to deliver an unparalleled user experience, exploring the transformative power of Web3 technology as a unique advantage for conventional companies and digital brands.”

Chan believes the alliance with Deca4 is a significant landmark as it goes beyond the tech stack and engages with community members and companies. The utilisation of Distributed Ledger technology needs to be harnessed effectively and this is done thoroughly by Hedera Hashgraph.

Mohammed Mahfoudh, Founder and CEO of Deca4 consultancy adds, “Working with HashPack to bring Sphera World, powered by Kooora, with a staggering 30+ million active users, will provide a unified platform that meets the needs of Web savvy users while introducing Web2 natives to the Web3 world.”

Above all, the project is supported by Hashgraph Association, a non profit organisation that promotes and provides funding for innovation, research and development for the benefit of economic inclusion and with a positive environmental, social, and governance (ESG) impact.

Kamal Youssefi, President of The Hashgraph Association, explained, “We are proud to be supporting organisations in the MENA region, especially those in the sports and gaming industries which are set to grow by 8.7% by 2026 according to The World Economic Forum. Our association is here to support companies in their journey towards Web3, helping them deliver unmatched value to stakeholders and users.”

Varys Capital to enter GCC market with $75 million digial asset blockchain fund based out of UAE

Varys Capital to enter GCC market with $75 million digial asset blockchain fund based out of UAE

Venture capital fund Varys Capital is looking to enter the GCC market, and is working to raise $75 million for its equity fund focused on blockchain innovation. The fund aims to achieve long-term growth from a curated portfolio of high-quality, early-stage businesses utilising blockchain to solve addressable needs in the wider software, gaming, and finance industries. 

To govern its entry into the UAE, Varys Capital has secured reputable local services, including Al Tamimi, one of the GCC’s most prestigious law firms, as its primary counsel.

According to the press release, the company has received inquiries from local institutions and prominent investors. The fund has 12 commitments in place across decentralised (DeFi) and centralised (CeFi) finance, GameFi/Web3, infrastructure, and emerging technologies.

Darius Askaripour, Managing Partner, Varys Capital said, “We are looking at entering the UAE market first encouraged by supportive local government directives, its high innovation levels, robust infrastructure, and forward-thinking mindset, but plan to deploy across the Middle East and North Africa with multiple deals already at the final stages of due diligence.”

The move comes as the International Market Analysis Research & Consulting Group (IMARC) forecasts the GCC’s digital asset management market will be worth US$222 million by 2028, registering a compound annual growth rate of 12.9% over the next five years.

Since 2018, Varys Capital has managed an equity-focused venture fund and a distinguished quantitative trading fund. Its blockchain venture fund boasts a total value to paid-in capital returns of 440% and over triple-digit internal rate of return since capital deployment in March this year.

The fund has made five investments in prominent blockchain, cloud technology, and games projects such as modular blockchain network developer Movement Labs, games studio SunSpear Games, blockchain enhancer for mobile operators Bloxtel, competitive multiplayer first-person shooter games producer Shrapnel, and cloud hardware and software developer, Nirvana Labs. Two of the projects have already experienced significant uprounds boosting returns

UAE based Helion Ventures to invest in Web3 gaming companies

UAE based Helion Ventures to invest in Web3 gaming companies

Dubai headquartered Helion Ventures, Web3 VC and venture builder, has announced that it will be investing in gaming companies.

In a linkedin post, Helion ventures are announcing investment in gaming companies. As they noted in their post, “ The web3 gaming industry will hold significant importance for the economy by transforming the gaming industry and creating new economic opportunities.”Entities can apply now and get the chance to fund your project: https://lnkd.in/djj_uycNThis announcement comes after Web3 gaming startup GAM3S.GG.based out of Abu Dhabi UAE has just raised $2 million in seed funding led by investment firm Mechanism Capital and other angel investors including  Polygon, Double Peak, ArkStream Capital, LD Capital, ROK Capital, Hyperithm, Snackclub, Emurgo Ventures, Eden Ventures and Mix Marvel Ventures.In addition South Korea’s Blockchain, NFT, metaverse game developer and publisher WeMade  also recently signed an onboarding agreements with several domestic and international game companies for the blockchain game platform “WEMIX Play.” One of those is a UAE game company, Project Seed, which will be working on a fantasy action role playing game RPG titled Outland Odyssey.In May 2023 South Korean blockchain developer WEMIX and Hub71, Abu Dhabi’s global tech ecosystem, signed a memorandum of understanding (MoU) to create and accelerate growth opportunities for their respective portfolio companies and Web3 startups.Earlier this year in January Abu Dhabi in its stive to become a global gaming hub through the AD Gaming government led initiative partnered with AA Meta a local Metaverse and Web3 Development Company. The company will deliver cutting-edge Web3 solutions to the emirate’s game development eco-system.

UAE Web3 Blockchain enabled gaming startup raises $2 million amidst growing investment in gaming

UAE Web3 Blockchain enabled gaming startup raises $2 million amidst growing investment in gaming

Web3 gaming startup GAM3S.GG.based out of Abu Dhabi UAE has just raised $2 million in seed funding led by investment firm Mechanism Capital and other angel investors including  Polygon, Double Peak, ArkStream Capital, LD Capital, ROK Capital, Hyperithm, Snackclub, Emurgo Ventures, Eden Ventures and Mix Marvel Ventures.

Formerly known as Polkastarter Gaming, GAM3S.GG, offers curated Web3 gaming content, with 200 listed games across 15 chains and over 60,000 registered gamers.

Omar Ghanem, Co-Founder and Chief Executive officer of Gam3S.GG states, “The gaming industry is at a crossroads while Web3 offers new exciting possibilities, the lack of quality content and a singular destination for all your Web3 gaming needs has left many gamers lost.”

GAM3S.GG said it is building the hub to enable newcomers and professional gamers to explore new frontiers and experiences within one single Web3 gaming superapp. The startup is also a member of AD Gaming, the entity responsible for developing the gaming and e-sports industry in Abu Dhabi.

Abu Dhabi Gaming (AD Gaming), is supported by Unity Technologies, Flash Entertainment, UAE Pro League, Emirates Esports Association and the Media Zone Authority. AD Gaming hopes to provide a support system for game developers, players, consumers, and businesses in Abu Dhabi. The initiative will work to grow regional gaming and esports talent and bring gaming events to Abu Dhabi.

GAM3S.GG intends to build advanced features to eliminate barriers to entry for blockchain games, including social logins, player-owned item management, progression rewards, in-game progress tracking, as well as directly playing Web3 games on the platform.

Prior to this announcement, South Korea’s Blockchain, NFT, metaverse game developer and publisher WeMade signed onboarding agreements with several domestic and international game companies for the blockchain game platform “WEMIX Play.” One of those is a UAE game company, Project Seed, which will be working on a fantasy action role playing game RPG titled Outland Odyssey.

Reports have noted that MENA gaming revenue will hit $6 billion by 2027. Over $3 billion was invested in the industry by Saudi Arabia’s Public Investment Fund (PIF) in 2022, as part of a much larger $38 billion commitment by PIF to be used by its company Savvy Games Group (SGG). Multiple acquisitions in gaming (Embracer Group, Scopely) and esports (ESL, FACEIT, VSPO) have already been executed.

BCG’s latest gaming report titled ‘Game Changer: Accelerating the Media Industry’s Most Dynamic Sector’, highlights that more than 60% of the population in the Middle East are gaming enthusiasts, resulting in one of the highest shares of gaming mobile app downloads (50% compared to the global average of 40%).

A strong indication of Middle East populations towards gaming is strong growth of game streaming at 24.5% CAGR, which is on path to reach approximately 200 million users in 2025, according to Boston Consulting Group’s latest gaming report. The region’s growth is three times faster compared to China, the current leader, at a compound annual growth rate (CAGR) of 24.5% versus 7.6%.

The gaming industry is big business in the Middle East and Africa. Several hundred million gamers live in the region, making up 15% of total gamers globally. In the United Arab Emirates alone, the gaming industry is worth an estimated $288m.

“The metaverse and gaming go hand in hand, with so many new ways of bringing high-quality gaming and esports content to global audiences through metaverse ecosystems,” said James Hartt, director of strategic partnerships at AD Gaming, which is an organization that aims to build a self-sustaining gaming and e-sports ecosystem in Abu Dhabi.

 “Abu Dhabi has become a regional hub for Web3 gaming,” Sultan Al Riyami, head of gaming and eSports at AD Gaming, said. The UAE is also investing heavily in gaming. In an interview in June 2023, Anton Vasilenko, co-founder and CEO of True Games stated, “Over the next two years, we’ll be investing significantly in the future development and expansion of eSports lounges in the UAE and across the broader Middle East region. By the end of 2023, we plan to invest $13.5 million into developing our gaming centers in the UAE alone.”