Popular Web3 and Metaverse firm, Animoca Brands has signed a Memorandum of Understanding (MOU) with STC Play. According to the blog post today, the MOU is for a commercial agreement that’ll see the two firms collaborate on producing video games in MENA. According to the announcement, the two partners will leverage STC Play platform and some of its distribution channels to produce the video games.
However, the collaboration manifested due to the focus of Animoca Brands’ effort in becoming a major force in the Middle East. According to the Blog Post, Animoca Brands holds its expansion to the Middle East in high regard. Thus, birthing its collaboration with STC Play. More so, the Web3 firm highlighted how it will gain more ground in the region.
Accordingly, the firm described STC Play as one of the largest telecommunication companies in the Middle East. Animoca Brands revealed that its new partner provides a pathway to millions of businesses and end users. Consequently, the firm is aiming to bank on STC Play’s user base to become a force to reckon with in the Middle East.
In return, STC Play will as well ride on the collaboration to extend its services into the gaming space. The firm revealed how the collaboration with Animoca Brands will gap the bridge between global and local games developing studios and its audience. With that, STC Play will be boosting its gaming services as a result of the collaboration.
Side notes about Animoca Brands
Lately, Animoca Brands has been pushing to establish its presence in the region. The firm has engaged in numerous collaborations to advance the gaming and Web3 space in Saudi Arabia. This effort has seen Animoca Brands focus more on the MENA region. Recently,the firm collaborated with Manga Productions, a prominent game production firm in the Middle East.
Also, on March 15, 2023, the firm made a strategic investment in the first NFT marketplace in Saudi Arabia; Nuqtah. According to a report by Binbits, The funding aided Nuqtah to strengthen its operational resources and presence in the industry.
Additionally, the funds from Animoca Brands provided the NFT Marketplace a financial backing to collaborate with local NFT artists and other talents in the region. More so, the funding placed Nuqtah in a position of pushing the advancement of the Web3 space in the region.