#Blockchain gaming firm #AnimocaBrands has formed a strategic partnership with Saudi Arabia's NEOM Investment Fund. The agreement may involve a multimillion-dollar deal, with #NEOM potentially investing up to $50 million in Animoca Brands. Of this, $25 million will be used to issue convertible notes at a conversion cap price of A$4.50 (about $2.85) per share, and the remaining $25 million will be used to buy Animoca's shares on the secondary market. As part of this partnership, Animoca Brands will develop web3 solutions with global commercial applicability, aiding technology advancements in Riyadh and the NEOM region. They will also establish a web3 hub in NEOM, a futuristic city being built in Saudi Arabia. This move aligns with NEOM's vision to harness the power of blockchain and integrate it into the development of the city.

#ape