Saudi Arabia Eyes Webย 3.0 Gaming as Part of Economic Diversification Efforts
Saudi Arabia is making efforts to diversify its economy away from oil and has shown a keen interest in emerging technologies like blockchain and artificial intelligence (AI). Now, specialists believe that the countryโs investments in the gaming sector could have a wholeย lotย of impact on futureย ofย the Webย 3.0. According to Animoca Brands co- founder Yat Siu, Saudi Arabia is interested in the concept of Webย 3.0 gaming, where assets can be proven and owned by players. The country already represents 45% of the gaming market in the Middle East, with a value of over $1.8 billion. Althoughย while it remains to be seen how Saudi Arabia will integrate Webย 3.0 into its gaming industry, the kingdom is actively seeking to learn and implement best practices.
Saudi Arabiaโs Webย 3.0 Gaming Applications and Financial Literacy
As Saudi Arabia explores Webย 3.0 gaming, the industry could play a critical role in driving mainstream adoption. Financial literacy will be an important aspect of this adoption process, as Webย 3.0 users need toย comprehend the value and probable of their assets. Animoca co- founder Yat Siu outlines the need for users to go beyond simply having a wallet and develop a deeper understanding of investing. Success in Webย 3.0 adoption will rely on introducing new game models that strengthen user experience and allow for the ownership of guilds and the creation of individual theories within games. The CEO of Mythical Games predicts that the Webย 3.0 gaming segment could attract 50 to 100 Million players within the next two years.
Hot Take
Saudi Arabiaโs interest in Webย 3.0 gaming demonstrates its commitment to economic diversification and embracing emerging technologies. By investing in the gaming sector, the country intendsย to position itself as a worldwide gaming hub. Althoughย while it remains to be seen how Saudi Arabia will integrate Webย 3.0 into its gaming industry, the kingdomโs desire to learn and lead in this space sets it apart. Financial literacy will be critical for Webย 3.0 adoption, as users need toย comprehend the value of their assets. Futureย ofย the gaming lies in Webย 3.0, and Saudi Arabia is poised to be at the cutting edge of this technological transformation.
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