The engine that will ignite a sustainable future starts with Web3, its associated technologies, and UAE based Enjinstarter. Enjinstarter, launched in 2021 is a Launchpad, incubator, crowd funding, and advisory platform for Web3 metaverse, gaming, entertainment and impact and sustainable projects. At the beginning of 2023, Enjinstarter appointed Vasseh Ahmed as the new Managing Director to lead the Web3 efforts in the MENA region. Vasseh spoke with LaraontheBlock to discuss Enjinstarter’s plans to help companies reach their Web3 ambitions while positioning Enjinstarter as the go to provider for impact and sustainability projects. Ahmed, speaking with Lara on the Block, stated, “Before I joined Enjinstarter I was working in the UAE for four years on a digital bank project. I had been in the blockchain and crypto space for over 6 years, so when I met Prakash Somosundram, [Enjinstarter’s] CEO and Co-Founder, and we discussed the launch of an impact and sustainability track, I was...

    Saudi’s first NFT marketplace platform, Nuqtah has raised a seed round of millions of dollars from Blockchain platform Polygon and Animoca Brands. As per the release the new funding will scale Nuqtah’s business over the next 12 months. In 2022, Nuqtah had announced it was planning to raise $5 million in upcoming seed rounds. Licensed by the Saudi Ministry of Communication and Information technology and the Ministry of Investment, Nuqtah aims to to empower its creators, businesses, and users to unlock the new opportunities that the Web3 space offers to the region. Nuqtah allows individuals and businesses to easily build, deploy and monetize NFT collections without having to navigate complicated blockchain infrastructure. Yat Siu, the executive chairman and co-founder of Animoca Brands, commented: “Our investment into Nuqtah is another meaningful step in our commitment to build up the Web3 industry in MENA as well as develop our own capabilities in the region. Nuqtah ...

  Animoca’s brand, the Sandbox announced during the 62 edition of the True Global Ventures Conference that it will be bringing its metaverse strategy to Dubai, with the ‘Dubaiverse’. It will work with local partners including Khaleej Times media outlet.  Animoca Brand’s Dubai-themed metaverse will follow the blueprint of its subsidiary Sandbox’s Hong Kong “Mega City,’ a gaming metaverse and virtual cultural hub based on the Asian financial hub of Hong Kong. As per the news on  Forkast , the    Dubaiverse will be built through local partnerships, In doing so, the Hong Kong-based blockchain game specialist will partner with firms in the film, music, entertainment, acting, finance, real estate, and gaming industries. Sebastien Borget, cofounder and chief operating officer (COO) of Sandbox Paris, added, “Other planned location-based metaverses are in the works for Singapore, Korea, and Turkey.” Dubai’s virtual asset regulator was the first regulator in the world to ...

  True Global Ventures 4 plus, (TGV-4 Plus) Fund with a presence in the UAE and TGV 4 Plus Follow On Fund (TGV 4 Plus FoF) have invested a $17.2m convertible note investment into Animoca Brands out of a total raise of US$110m.   The current investment further supports Animoca Brands’ mission to deliver digital property rights to the world's gamers and Internet  users,  thereby  creating  a  new  asset  class,  play-to-earn  economies,  and  a  more equitable digital framework contributing to the building of the open metaverse. Other investors included Boyu Capital, Singapore’s Sovereign Wealth Fund Temasek and GGV Capital. The investment comes after Animoca Brands’ second closing at a valuation of US$5.9 billion (based on Australian dollar exchange rates at the time),   announced on July 12, 2022. The company is a leader in digital entertainment, blo...