Saudi Arabia to Invest $50 Million in Metaverse Firm Animoca Brands

Get ready for a major power-up in the Metaverse! Saudi Arabia is set to invest a whopping $50 million into Metaverse firm Animoca, according to a new announcement, signaling a significant commitment to Web3 technology and the future of digital experiences. Indeed, the blockchain gaming company Metaverse and gaming venture capital firm Animoca Brands plans to enter into a partnership with Saudi Arabia's NEOM Investment Fund focused on Web3 initiatives.

This isn't just a one-off deal. Hong Kong-based game developer and venture capital company Animoca Brands Corporation Ltd has announced a strategic partnership with Saudi Arabia’s NEOM. This collaboration highlights the growing interest and investment from the Kingdom in cutting-edge technologies like blockchain gaming and the metaverse.

Animoca Brands, a prominent blockchain gaming and metaverse investment firm, announced a strategic collaboration and investment agreement with Neom. This partnership aims to foster innovation and development within the Web3 space, leveraging Animoca's expertise and Neom's ambitious vision for the future.

Saudi Arabia’s ambitious NEOM Company threw its support behind Web3 in a big way today with a $50 million investment in Animoca. This demonstrates Saudi Arabia's forward-thinking approach to embracing emerging technologies and positioning itself as a key player in the global digital landscape. This investment complements Saudi Arabia plans to build a city in Neom dubbed The Line, showcasing a commitment to integrating innovative technologies into everyday life.

Stay tuned for more updates on this exciting partnership and the future of the Metaverse!