1. PixelPlaygroundHome
  2. Metaverse Insights

Saudi Arabia’s Nuqtah NFT Market Completes Seed Round Financing Led by Animoca Brands

• Metaverse Insights • 120 views

Saudi Arabia’s Nuqtah NFT Market Completes Seed Round Financing 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.

Nuqtah completes seed round financing in Saudi Arabia’s NFT market, led by Animoca Brands

Analysis based on this information:


Nuqtah, the first NFT market in Saudi Arabia, has just completed its seed round financing, led by Animoca Brands, alongside Polygon and a group of local investors. While the exact amount of financing has not been disclosed, this announcement carries significant weight for the digital art community across the country.

The primary reason for its inception is to provide a trustworthy and secure marketplace for artists to trade digital assets and products. The NFT market’s launch comes at a propitious time when the market for NFT’s has experienced a surge in demand in recent years. Nuqtah’s market will provide a platform for artists and collectors to authenticate and trade their digital artwork, and investment in Nuqtah’s seed round will likely have an enduring impact on the development of their digital art scene.

According to a company representative, the funds will focus on expanding the business in a wide range of areas, including product development, marketing, and talent recruitment, over the next year. It means that the financing will contribute to the creation of a more reliable, secure, and active market that emphasizes developing and fostering local talent. Nuqtah’s digital marketplace will provide regional artists with an opportunity to sell and showcase their talent to art lovers worldwide.

Nuqtah’s completion of its seed round of financing from Animoca Brands and other local investors is an important milestone for Saudi Arabia’s digital art community. The investment is significant as it will support the growth of its digital art scene by giving local artists the opportunity to promote their talents internationally.

In conclusion, the completion of this seed round financing by Nuqtah is good news for Saudi Arabia’s digital art community, and it has the potential to facilitate the growth of the community, supporting emerging artists and providing a platform for collectors worldwide.

This article and pictures are from the Internet and do not represent Fpips's position. If you infringe, please contact us to delete:https://www.fpips.com/6811/

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.

Like (0)
Previous 03/16/2023 01:17
Next 03/16/2023 01:22

Recommended articles