The Sandbox And Saudi Arabian Digital Government Authority Make Strong Partnership

The Sandbox signed a memorandum of understanding with the Saudi Arabian government for joint metaverse development. The partnership ceremony took place at the LEAP 2023 conference in Saudi Arabia.

The momentum of the significant metaverse dampened in 2022 due to bear market conditions. However, the start of 2023 has been strong, with some inactive crypto niche revival in the first 30 days.

The Sandbox experiences a rebirth.

Sebastien Borget, the COO and co-founder of the Sandbox, announced in a LinkedIn post on Thursday that the Sandbox has signed a partnership with Saudi Arabia Digital Government Authority (DGA). 

Sebastien expressed his excitement about the partnership, saying he was honored to sign with MOU at the #leap2023 conference. He showed his interest in working together on projects related to the metaverse.    

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A Memorandum of Understanding (MOUs) is the first legally binding agreement that makes the deal official. They usually indicate the intention to sign the comprehensive agreement and define its limits and scope.

Metaverse Momentum

Borget announced the news during the LEAP Tech conference in Riyadh and Saudi Arabia. It is the first significant collaboration from a major in the metaverse realm, including Decentraland; the Sandbox is the primary competitor.

Although the metaverse has not been more active, it is still alive, and partnerships could start a new trend if the market changes. Before the announcement, nothing significant had happened with the major players in the metaverse, including Sandbox and its competitor, since mid-year when Sandbox partnered with Playboy.

Other Business Partners of Sandbox

The Sandbox has teamed up with renowned names from both the Web3 and non-Web3 industries. The prominent names include Snoop Dogg, Gucci, TIME, Atari, HSBC, Warner Music Group, and more.

Based in Saudi Arabia, the conference takes place as the Middle East strives to position itself as a center for innovative technologies. In November, Abu Dhabi in the UAE was selected as the home of the newly established blockchain association for the Middle East, Asia, and Africa.

Previously, the Dubai International Financial Centre introduced a regulation for crypto tokens, which covers all recognized tokens within its jurisdiction. The city has established a reputation as a leader in innovation within the Web3 industry for a long time.

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