Saudi Development Project Neom Invests $50M in Blockchain Gaming Leader Animoca to Advance Crypto Adoption
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Animoca Brands, a leading blockchain gaming company, announced a partnership and $50M investment from Neom, a large Saudi development project.
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The deal aims to advance crypto adoption in Saudi Arabia and establish a blockchain hub in the region.
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Neom will invest $25M directly into Animoca and another $25M buying shares on the secondary market.
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They will collaborate on blockchain projects tailored to Neom's futuristic city plans.
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Animoca will advise Neom on building Web3 services to enable new models for living and working.