While it’s still very much under construction, many countries are already preparing for the next iteration of the internet, the metaverse. A nascent space that could change the way we socialise, work and make transactions.
In a partnership ceremony at the Leap 2023 conference in Saudi Arabia, The Sandbox signed a memorandum of understanding (MOU) with the government of Saudi Arabia for future metaverse projects.
Like the United Arab Emirates, Saudi Arabia is another Middle East country that’s looking to prioritise the metaverse after highlighting key topics in the industry during the Leap conference in Riyadh.
Sebastien Borget, the co-founder and chief operating officer of The Sandbox took to Twitter to share the news of the MOU with the KSA’s Digital Government Authority (DGA) as they “look forward to exploring, advising and supporting mutually each other in activations of the metaverse.”
It was a true honor to sign our MOU partnership ceremony between @TheSandboxGame and the Saudi Arabia Digital Government Authority (DGA) during #LEAP 2023 conference, and we look forward to exploring, advising and supporting mutually each other in activations of the Metaverse pic.twitter.com/mTBYqlwvUa
— Sebastien 🏞 (@borgetsebastien) February 7, 2023
Although the extent of the partnership was not revealed, more updates are likely to be shared when the actual work begins. Like The Sandbox, Saudi Arabia has also been actively pushing the boundaries of the Web3 space lately.
Another big move for The Sandbox
For The Sandbox, this marks yet another big partnership after previously collaborating with some of the biggest companies and brands in and out of the Web3 space such as Gucci, Atari, Snoop Dogg, Warner Music Group and many others.
KuCoin conducted a survey in July 2022 which revealed that Saudi Arabia is a significant market for digital currency adoption due to local regulations. The KSA’s government is currently researching the probability of a central bank digital currency.
Isa Muhammad is a writer and video game journalist covering many aspects of entertainment media including the film industry. He's steadily writing his way to the sharp end of journalism and enjoys staying informed. If he's not reading, playing video games or catching up on his favourite TV series, then he's probably writing about them.
