Riyadh - Sharikat Mubasher: The Saudi-based Web3 startup, Nuqtah, aspires to play a leading role in Saudi Arabia’s digital transformation journey by supporting the development of cutting-edge technologies, Salwa Radwi, Founder and CEO of Nuqtah, stated.
Nuqtah aims to bolster the Kingdom’s goal to lead the forefront of technology by advocating the Web3 technology, Radwi said in an interview with the Startup Scene website.
“As the region continues to spend billions towards the digital economy, and continues to pour efforts into making the digital economy more transparent, efficient and fully owned by the government, Nuqtah believes it is in just the right position to enable this digital revolution,” Radwi noted.
Nuqtah aims to empower creators and businesses to unlock new opportunities on the blockchain, allowing users to build, deploy, and monetize digital collectibles without having to navigate complicated blockchain infrastructure.
The Web3 startup joined efforts with government and private entities in the Kingdom, with some of its latest work being featured at LEAP, the Saudi Arabia Ministry of Tourism, and the Saudi Research and Media Group.
Web3 technology focuses on decentralization, blockchain, and openness as its key concepts and provides highly interactive advertising opportunities that could enhance user experience and increase customer engagement.
“With a market worth more than $38 billion, Nuqtah believes in enabling businesses and the government to become more innovative across three major fronts- ownership, IP, and customer engagement,” Radwi added.
It is worth mentioning that Nuqtah has closed a pre-seed round led by Shorooq Partners with participation from strategic angel investors in 2021, followed by a seed round in March 2023 to elevate the Saudi growing Web3 industry.
