Animoca Brands Bets On Saudi NFT Market “Nuqtah”

Animoca Brands has backed Nuqtah, Saudi Arabia’s first NFT market platform. Nuqtah has lately introduced a seed spherical of funding led by Animoca Brands, with Polygon and regional buyers additionally collaborating. The new funding will allow Nuqtah to develop its enterprise within the coming yr. Let’s dive in!

What we learn about Animoca Brands and Nuqtah

Animoca Brands is a frontrunner in digital leisure, blockchain, and gamification. Significantly, they’re advancing digital property rights and contributing to the open metaverse. Additionally, they develop and publish an unlimited vary of merchandise, together with the REVV and SAND tokens and unique video games corresponding to The Sandbox, Crazy Kings, and Crazy Defense Heroes. With a number of subsidiaries, together with Quidd, GAMEE, and nWay, Animoca Brands has a rising portfolio of over 380 Web3 investments, corresponding to Colossal, Axie Infinity, and OpenSea. The Financial Times ranks the corporate in its High Growth Companies Asia-Pacific 2023, and it’s a Deloitte Tech Fast winner.

Meanwhile, Nuqtah is the first-ever licensed NFT market in Saudi Arabia. It’s set to empower creators and firms alike to unlock new alternatives within the Web3 house. Additionally, Nuqtah goals to make constructing, releasing, and monetizing NFT collections straightforward for everybody!

What affect will this partnership have?

So, what does this all imply? With their latest funding spherical, Nuqtah is now able to empower native expertise and develop the Web3 trade in Saudi Arabia. The new funding will allow Nuqtah to scale up its enterprise in product growth, advertising and marketing, and expertise acquisition. On the opposite hand, Animoca Brands’ strategic funding expands its portfolio in MENA. This partnership builds on their dedication to rising the regional blockchain trade, facilitating instructional alternatives, and co-creating Web3 pilot tasks with native firms.