The Saudi Arabia Digital Government Authority (DGA) and the behemoth of the metaverse known as The Sandbox have entered into a memorandum of understanding (MOU) agreement to investigate potential metaverse projects.
The information was shared on Twitter by Sebastien Borget, who is also the COO of The Sandbox and a co-founder of the company. He wrote that it was “a true honor to sign our MOU partnership ceremony between The Sandbox and the Saudi Arabia Digital Government Authority (DGA) during #leap2023 conference, and we look forward to exploring, advising, and supporting mutually each other in activations of the Metaverse!” He said this in the post.
Borget and the DGA of Saudi Arabia inked the agreement when they were both attending the LEAP Tech Conference at the Riyadh Front Expo Centre in Riyadh, Saudi Arabia. The conference was being held in Saudi Arabia.
Borget indicated that he was unable to disclose any other information on the arrangement that his business had reached with the government of Saudi Arabia, but that additional details would be made public in the “coming weeks.”
Countries in the Middle East, such as Saudi Arabia and the United Arab Emirates, are heavily engaged in web3 and metaverse programs, both of which have aspirations for widespread implementation. In particular, Dubai hopes to establish itself as the ideal location for the cryptocurrency sector worldwide. In order to raise the emirate’s overall contribution to GDP, Dubai’s Crown Prince made an announcement the year before about the beginning of the “Dubai Metaverse Strategy.”
Compiled by Coinbold