Saudi Arabia looks to blockchain gaming and Web3 to diversify economy
The kingdom is currently diversifying its economy away from oil and turning to new opportunities, such as gaming and Web3. Saudi Arabia has ramped up its economic diversification efforts driven by its ambitious Vision 2030. In a bid to diversify its economy away from a dependence on oil, the kingdom has embraced emerging technologies, such as blockchain and artificial intelligence (AI), and tapped into booming markets like gaming. But while the country has yet to leave a significant mark in the global game and AI development, the ripples of its investments in the gaming sector could extend far beyond — at least, that’s what Web3 experts say. “Based on our work and communications that we have, Saudi [Arabia] is very, very interested in Web3,” Animoca Brands co-founder Yat Siu told Cointelegraph. Given the kingdom’s partnerships with entities such as The Sandbox and even Animoca, Siu sees that there’s an effort from Saudi to venture into the new iteration of the internet. The executive...