Nuqtah completes seed round financing in Saudi Arabia’s NFT market, led by Animoca Brands
On March 16th, Nuqtah, the first NFT market in Saudi Arabia, announced the completion of a seed round of financing, led by Animoca Brands, and participated by Polygon and a group of local investors. However, the specific amount of financing has not yet been disclosed. The company will use the new funds to expand its business in product development, marketing, talent recruitment, and other business areas in the next 12 months.
Interpretation of this information:
On March 16th, Nuqtah, a Saudi Arabian-based non-fungible token (NFT) market, announced the successful completion of its seed funding round. The funding was led by Animoca Brands, a leading developer and publisher of blockchain games, and Polygon, a platform for faster and cheaper transactions on Ethereum. In addition, local investors also participated in the funding round. However, the exact value of the investment was not disclosed.
Nuqtah has big plans for the upcoming year with the new funds it has secured. Firstly, the company aims to expand its business in terms of product development, specifically by enhancing its marketplace platform to provide users with more innovative features. Secondly, Nuqtah plans to invest in marketing strategies to promote its brand awareness, to widen its reach in Saudi Arabia and the Gulf Cooperation Council (GCC) region. Thirdly, talent recruitment will be a key area of focus to support the company’s drive in scaling its operations in line with its vision and mission.
The rise of NFTs has been a global phenomenon, with increasing attention being paid to their potential applications in the art, sports, and gaming industries. Saudi Arabia is no exception, with Nuqtah being the first NFT market to enter the Saudi market. The high demand for NFTs in the region has to lead to the rise of artists, collectors, and enthusiasts. Nuqtah’s entry into the market provides a platform for the trading and collection of NFTs for these stakeholders.
In conclusion, Nuqtah’s successful seed funding round shows a promising future for the NFT market in Saudi Arabia. With the help of its local and international investors, the company plans to expand its marketplace and attract more users, revolutionizing the way in which NFTs are marketed, sold, and traded in the GCC region.
This article and pictures are from the Internet and do not represent 96Coin's position. If you infringe, please contact us to delete:https://www.96coin.com/44020.html
It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.