On October 30, 2023, Animoca Brands, a Web3.0 games developer and Saudi Arabia’s NEOM investment fund announced its collaboration. This collaboration is expected to drive Web3.0 development in the region, stated Cointelegraph.
Sources revealed that Animoca will work with NEOM to build Web3.0 enterprise service capabilities. The new plan is expected to be applied globally. However, they will first be deployed to support advancements in emerging tech in the Saudi capital, Riyadh and the NEOM region, Cointelegraph added.
“Web3.0 technology and infrastructure development will not only be an important foundation of NEOM’s tech stack and architecture but also has the potential to revolutionize global industries,” Majid Mufti, CEO, NEOM Investment Fund, explained.
Furthermore, Saudi Arabia is believed to have recently collaborated with universities in China to develop an Arabic-based artificial intelligence (AI) system to process queries in its local language, Cointelegraph concluded.
(With insights from Cointelegraph)
