March 3, 2023

Animoca Brands, Mango Productions Ink MoU for Exploring Web3 Initiatives

Animoca Brands, Mango Productions Ink MoU for Exploring Web3 Initiatives Featured Image

Saudi leading games production company Manga Productions inked a memorandum of understanding (MoU) with Hong Kong-based gaming giant Animoca Brands to build a strategic partnership through which they can develop Web3 initiatives and enhance the blockchain industry in the region.

Announced by CEO of Manga Productions Essam Bukhary, this partnership will showcase Mango’s content and characters in the Web3 ecosystem and develop Web3 pilot projects across Animoca’s extensive ecosystem with the aim to utilize Manga Productions’ high-quality content portfolio, according to Zawya.

Animoca Brands will offer educational and vocational opportunities to those who are interested in its relevant fields, therefore, Animoca Brands is in talks with educational institutions and universities in the region to provide introductory blockchain courses.

In this regard, Co-founder and Executive Chairman Yat Siu expressed his excitement for cooperation with Mango Productions, saying this partnership represents the company’s first remarkable steps in the Middle East, one of the fastest-growing Web3 ecosystems.

Yat Siu noted that the Middle East’s enriching cultural heritage will contribute to adopting different forms of virtual content, adding he looks forward to implementing several initiatives with Mango Productions in reality.

Meanwhile, Bukary noted: “We are delighted to announce our partnership with Animoca Brands and taking our IPs beyond content and into various applications and experiences. With this partnership, we believe that this will further develop the creative industry in the region through web3 applications as well as expand our portfolio within online and offline activations of IPs.”

Also, Animoca Brands will cooperate with local partners, including Manga Productions, to explore the possibility of a dedicated regional game-publishing platform to bring high-quality blockchain game titles to the region and support the global distribution of locally produced content.

According to a report by Chainalysis, the crypto market in MENA is the fastest growing in the world with transactions hitting $566 billion in crypto in the time frame of July 2021 to June 2022, with a 48% increase compared to the previous year.

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