Initial rollout will focus on bolstering developing technology in Riyadh and the NEOM area.
There is a proposed $50M investment in Animoca Brands from the NEOM Investment Fund.
On October 30th, NEOM Investment Fund of Saudi Arabia and Web3 games producer Animoca Brands announced a new agreement to propel Web3 growth within the area.
Moreover, as stated in the announcement, Animoca will be collaborating with NEOM to develop Web3 business service capabilities. Although the worldwide applicability of the proposed Web3 services is the ultimate goal, initial rollout will focus on bolstering developing technology in the Saudi capital of Riyadh and the NEOM area.
Technological Epicenter
Furthermore, NEOM in Saudi Arabia is being developed as a “living laboratory” for a potential future civilization. Also, it is planned to be a technological epicenter with cutting-edge connectivity.
The CEO of NEOM Investment Fund, Majid Mufti stated:
“Web3 technology and infrastructure development will
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