Web3-gaming and open metaverse-focused firm Animoca Brands is continuing its eye-opening expansion into the Middle East, this time with telecoms giant stc and its gaming arm, stc play.

On 10 May, prominent digital property rights proponent Animoca Brands announced the signing of a memorandum of understanding (MoU) for a commercial agreement in which it and stc play will collaborate on publishing video games in the MENA region (Middle East and North Africa).

The games will be published through the stc play platform and other distribution channels.

Never mind all the frothy memecoin and price-fluctuation noise dominating Crypto Twitter right now, because news like this is actually significant for the sustainability and growth of the industry at large.

It means the global expansion and adoption of the web3 industry outside of the narrative-dominant United States is continuing apace.

And if you’re a believer in the future of web3 gaming, and indeed web3/crypto as an industry and asset class on the whole, then this sort of news might well give you another reason for mid-to-long-term bullishness.

What is stc play?

Actually, before we answer that question, let’s answer this one – what is stc?

It stands for the Saudi Telecom Company, and it’s the digital enabler of telecommunications services in the Kingdom of Saudi Arabia. It’s also one of the most valuable and fastest-growing brands in the Middle East.

stc play, the firm’s gaming-focused division, is a platform that aims to provide engaging games and gaming content created by gamers themselves, as well physical gaming gear and digital items, including vouchers.

The facilitation of gaming tournaments is also on its broad agenda of initiatives, as is a chat feature to encourage interaction between gamers.

‘Significant advancement of expansion strategy’

Yat Siu, the co-founder and executive chairman of Animoca Brands (at left in the tweeted image above), commented, per the announcement:

“Partnering with stc play is a significant advancement of our expansion strategy in the Middle East. As one of the largest telecom companies in the region, stc provides access to several million business and retail users across its expansive service offerings.”

Bader Almarshoud (at right in the image above), who is the head of stc play, added:

“Following our strategy and as an extension of our venture into the gaming industry, we are glad to announce our collaboration with Animoca Brands to expand the gaming sector in Saudi Arabia by publishing video games in the MENA region using different distribution channels.

“This collaboration bridges the gap between the global and local games developing studios and its audience.”

The new commercial partnership follows Animoca’s recent strategic investment into Nuqtah – Saudi Arabia’s first NFT marketplace, and a partnership with Manga Productions – the leading animations, comics, and games production company in the Middle East.

This article was developed in collaboration with Animoca Brands, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

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