• Saudi government signed an MOU with The Sandbox to create a mutually beneficial partnership.
• Kucoin survey showed that Saudi Arabia was a significant country for digital asset adoption.
• LEAP Conference brings together tech innovators, including venture capitalist Tim Draper and footballer Thierry Henry.
Mutual Partnership with The Sandbox
At the LEAP Conference in Riyadh it was announced that the government of Saudi Arabia had signed an MOU with The Sandbox for their mutual benefit. This partnership is centered around exploring and developing Metaverse(s) technology and taking advantage of The Sandbox’s expertise in this sector. It is not yet known what exactly this partnership will involve beyond the formal agreement.
Survey on Digital Asset Adoption
A Kucoin survey conducted last July highlighted that Saudi Arabia was a significant country for digital asset adoption, partly due to its regulatory environment. This shows the Saudis‘ commitment to utilizing and promoting digital assets as part of their economic growth plan.
The LEAP Conference is a 4-day event bringing together 100,000 tech innovators and experts from all over the world. Key speakers at this conference include venture capitalist Tim Draper, retired footballer Thierry Henry, and other industry leaders.
Mutually Beneficial Outcomes
For The Sandbox’s part this can be an extremely advantageous partnership that can help it forge ahead of the rest of the Metaverse sector. On the other hand, if capital is needed then virtually unlimited funds might be available from the MOU with Saudi Arabia which could enable further development in metaverse technology .
This article is provided for informational purposes only and should not be used as legal, tax, investment or financial advice