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The two parties penned the MoU during the 2023 Leap Tech Conference that was held in Saudi’s capital city of Riyadh.
Saudi Arabia and metaverse gaming platform The Sandbox have reached an agreement to work together on metaverse projects. An elated Sandbox co-founder and COO, Sebastien Borget, shared the announcement via his LinkedIn account. He wrote in part:
“It was a true honor to sign our MoU partnership between The Sandbox and the Saudi Arabia Digital Government Authority.”
As of publication, the exact details of the memorandum of understanding remain undisclosed. However, Borget shared that The Sandbox is eagerly anticipating its partnership with Saudi Arabia as they activate the metaverse together.
The two parties penned the MoU during the 2023 Leap Tech Conference that was held in Saudi’s capital city of Riyadh. And further details about the agreement are expected to surface in the coming weeks, per Borget.
Is Saudi Arabia Going Web 3.0?
It is worth noting that Saudi Arabia’s new partnership with The Sandbox is only a further validation of its ambitious drive for technological innovation. The Middle Eastern country has recently been enacting various policies in line with this. Additionally, it has been making investments that are aimed at encouraging the adoption of cryptocurrency, Web 3.0 and the metaverse as well. But Saudi Arabia is not alone in this. Another Middle Eastern country — the United Arab Emirates (UAE), has also been up to something similar with its recent policies. So it’s safe to say that Middle Eastern nations are gradually warming up to cryptocurrencies, Web 3.0, and the metaverse. And interestingly, Saudi Arabia is at the forefront of that movement.
Meanwhile, The Sandbox is no doubt an early leader in the development of the metaverse. So, by partnering with the digital platform, Saudi Arabia will be able to leverage its expertise to achieve its aim. But The Sandbox also stands to benefit from the partnership. And that is because it is yet to achieve anything close to mass adoption itself.
The Saudi Arabian DGA “is the authority concerned with everything related to digital government,” according to a government website.