Animoca Brands has once again enhanced its presence in the Middle East. Today, the leading web3 company made a strategic investment in Farcana, a gaming startup based in the United Arab Emirates. The latest investment comes less than a month after the web3 firm partnered with NEOM to drive web3 adoption in Saudi Arabia.
Meanwhile, the strategic investment in Farcana will assist the start-up in launching its beta version. Likewise, according to a blog post by Animoca Brands, the web3 firm is willing to contribute to the development of the start-up within the Bitcoin Ecosystem. Farcana will enjoy financial backing through the strategic investment that will prepare the start-up for a token and full-game launch by early 2024.
Consequently, Farcana is aiming to integrate fully into the Bitcoin ecosystem and the support from Animoca Brands will prove pivotal to the pursuit. It is worth mentioning that Animoca Brands has partnered with Farcana on various occasions before making a strategic investment in the startup. As revealed their history of partnership can be traced back to the second quarter of 2023.
Now, Farcana will work to leverage the backing of Animoca brands to key into the vision of UAE to boost its digital economy. Earlier this month, Dubai’s Crown Prince HH Sheikh Hamdan launched the “Dubai Program for Gaming 2033.” According to findings, the program will aim to support emerging talents, initiatives, and technologies to boost the digital economy of the UAE and Dubai.
Reactions to Strategic Investment in Farcana by Animoca Brands
It is worth mentioning that the co-founder and executive chairman of Animoca Brands, Yat Siu provided more insights into the strategic investment. The executive heaped praises on the progress Farcana has recorded in recent times. Additionally, Yat Sui submitted that the strategic investment in the startup is targeted at driving the development of web3 in MENA.
Also, the co-founder discussed how the region; MENA, is swiftly embracing emerging technologies. Yat Sui stated that Animoca Brands is willing to support the startup to introduce innovations and become a force to reckon with in the industry.
Similarly, Ilman Shazhaev, founder and CEO of Farcana also weighed his opinion on the investment. The CEO confirmed how the two firms had worked during the year on its tokenomics, improvements within the in-game economy, documentation, and go-to-market strategy.
Likewise, Ilman Shazhaev said the investment from Animoca Brands is a significant milestone for Farcana. The CEO revealed that the startup will remain committed despite the present situation of the crypto market. Lastly, he disclosed the willingness of Farcana to deliver the best games in web3.