Riyadh: The Outer Edge Web 3 Innovation Forum convened at The Garage headquarters, organized by Animoca Brands and Edge Of companies, to explore the impacts of Web3 and artificial intelligence technologies on economic systems and society. The event welcomed the President of KACST, Dr. Munir bin Mahmoud Eldesuki, along with elite experts and specialists from around the world.
The decision to host the forum in Riyadh reflects the Kingdom’s technological advancement and its embrace of innovation industries, particularly in Web 3 applications, marking a new era for the World Wide Web.
In his opening remarks, Chairman of the Saudi ESports Federation Prince Faisal bin Bandar bin Sultan outlined the Kingdom’s ambition to become a global gaming and electronic sports hub. He emphasized the transformative potential of gaming as a platform for social cohesion, innovation, and empowerment, highlighting strategic initiatives such as the Esports World Cup scheduled for Riyadh next summer.
Vice President of KACST for
the Future Economics Sector Dr. Maryam Noah underscored KACST’s commitment to accelerating technological development. She mentioned the establishment of the Gaming and Immersive Technologies Institute and numerous local and international partnerships aimed at localizing technologies with significant economic impact.
CEO of The Garage Omar Al-Shabaan described the incubator as the largest in deep technologies in the region, supporting over 240 startup companies from 50 countries. He emphasized its role in fostering growth and sustainability for entrepreneurial ventures and providing an environment conducive to pioneering projects and ideas.
The Chairman of Animoca Brands, Yat Soi, introduced Web3 and its technologies, including blockchain, cryptocurrencies, electronic games, decentralized applications, and smart contracts. He articulated Web3’s vision of creating a more open, secure, and user-focused Internet, empowering individuals to have greater control over their data and digital interactions.
Direct
or of Web3 and Spatial Reality Portfolio at NEOM Naif Al-Rabeah discussed smart cities and NEOM’s role in adopting artificial intelligence applications. He emphasized the aim of building a Web3 ecosystem through infrastructure, applications, and regulatory frameworks to enable global innovators to develop cognitive solutions that redefine urban living.
General Manager of the Gaming and Immersive Technologies Institute at KACST Mohammad Hadhrawi highlighted the Kingdom’s potential to lead in gaming and e-sports, driven by youth and technology experts. He anticipated increased investments in digital infrastructure and predicted that the Kingdom would pioneer the integration of blockchain and artificial intelligence into gaming and e-sports.
The forum sessions, the first of their kind in the Kingdom and outside America, featured discussions on the future of Web 3 applications, artificial intelligence for business and smart cities, investment opportunities in blockchain gaming, artificial intelligence, and e-
sports. Participants also explored prospects for the digital economy, the future of financial services, digital art and brands, and the evolution of sports and entertainment.
Source: Saudi Press Agency