- Web 3 and Metaverse activity is growing in Saudi Arabia
- To support the growing startups, Nuqtah and Consensys have decided to shake hands.
- This collaboration expects strong growth on Web 3 in the region.
Consensys will impart knowledge and skills to “empower” Web 3 startups in the Arab world’s largest economy, according to a statement released by Nuqtah on Saturday. Nuqtah’s chief executive, Salwa Radawi, stated:
This collaboration is just the beginning of our efforts to open and humanize this new area. It expands our and other Web3 startups’ changes in the market and assures us that we can transfer and localize this knowledge for the region.
According to the announcement, Consensys predicts “extremely significant growth” for Web3 as the use of new technologies expands across the region. Saudi Arabia is continuing to invest in its technology sector, as seen by its recent agreement.
Earlier this year, the kingdom announced more than $6.4 billion in investments in future technologies and entrepreneurship to boost the country’s digital economy.
Metamask and infra are two of ConsenSys’ most well-known ownerships. ConsenSys Partnership Lead Ian Wallis says:
With Nuqtah’s existing Infura and Ethereum infrastructure, the potential in the Saudi market is huge. We are very excited to be launching this strategic partnership with NuqtahNFT, Saudi Arabia’s leading NFT marketplace, to provide even more functionality and empower creatives in the MENA region.
Salwa said: Our mission is to spearhead the adoption of Web 3 in MENA by tirelessly developing and enabling a complete and robust infrastructure, tailored specifically to the MENA region originators.