Efforts towards metaverse development continue to be a major focus and area of interest in the Middle East region, as the LEAP conference held in Riyadh (Saudi Arabia) highlights key sector issues.
On February 7th, a partnership ceremony was held at the conference, recognizing a new memorandum of understanding between The Sandbox and the government of Saudi Arabia.
According to posts on Sebastien Borget’s social media, the co-founder and COO of Sandbox, the memorandum of understanding is with the Saudi Government Digital Authority (DGA) with the purpose of “exploring, advising, and supporting” each other in metaverse development. Although there is no further information on the scope of the partnership, both parties have been actively expanding the boundaries of the Web3 space in relation to their areas of specialization.
The Sandbox has collaborated with some of the biggest names both within and outside the Web3 space, such as Snoop Dogg, Gucci, TIME, Atari, HSBC, and Warner Music Group, among others.
The Saudi conference comes at a time when the Middle East continues to consolidate the region as a center for emerging technologies. Last November, Abu Dhabi (United Arab Emirates) was chosen as the host of the newly created Middle East, Asia, and Africa Blockchain Association.
Previously, Dubai’s International Financial Centre established a regime of cryptocurrency tokens, which will apply to all recognized tokens in the area. The city has long been a beacon of regional innovation when it comes to the Web3 space.