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CDS Startups Nuqtah Raises Seed Funding led by Animoca Brands

Startups

Nuqtah Raises Seed Funding led by Animoca Brands

oguz27/03/20231 Mins read387

Nuqtah, a Saudi Arabia-based NFT Marketplace startup, announced that it has raised seed funding led by Animoca Brands with participation from Polygon and other regional investors. The funds raised will be used for product development, marketing, and other operations of the platform.

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Nuqtah Raises Seed Funding led by Animoca Brands

Nuqtah will be Saudi Arabia’s first NFT marketplace. The platform is licensed by the Saudi Arabian Ministry of Communications and Information Technology and the Ministry of Investment. The platform aims to bring the opportunities offered by Web3 to the region and empower NFT creators.

Through the newly established NFT marketplace, users can easily create, send and publish NFT collections without being exposed to complex blockchain infrastructure. Yat Siu, the executive chairman, and co-founder of Animoca Brands said:

“Our investment into Nuqtah is another meaningful step in our commitment to build up the Web3 industry in MENA as well as develop our own capabilities in the region. Nuqtah is an important pioneer and we anticipate that it will greatly help to boost Web3 and NFT adoption in the Middle East. We will continue to expand our operational presence and collaborate with local strategic partners looking to adopt Web3.”

Nuqtah&Animoca Brands — Nuqtah Raises Seed Funding led by Animoca Brands 1

About Nuqtah

The company is an NFT Marketplace founded in 2021 by Salwa Radwi, an award-winning photographer, artist and Web3 pioneer. The company is based in Riyadh, Saudi Arabia. The platform aims to introduce Web3 to the entire Middle East region and increase Web3 adoption in the region. Salwa Radwi said:

“Watching Animoca Brands pioneer and enable the Web3 scene since day one has been so inspirational, and so we take great pride in the trust placed in Nuqtah through this investment. We look forward to working together to unlock the massive potential and opportunities in the Middle East.”

Nuqtah Raises Seed Funding led by Animoca Brands 2

About Animoca Brands

Animoca is a Hong Kong-based software development and VC firm founded in 2014. The company is a leader in blockchain and digital entertainment, as well as its work to advance digital property rights. Animoca is currently highlighted by more than 380 Web3 investments, including Colossal, Axie Infinity, OpenSea, Dapper Labs (NBA Top Shot), Yield Guild Games, Harmony, Alien Worlds, and Star Atlas.

Reference

www.animocabrands.com

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Written by

oguz

The author is a political science and public administration student at Kocaeli University. He is also studying Management Information Systems at Anadolu University. He met Blockchain technology and Cryptocurrencies for the first time in 2019. Interested in cryptocurrencies for over 2 years. In addition he provides E-commerce and social media marketing services.

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