Innovative collaboration announced between KSA-based Investment holding company CoinMENA and Swiss metaverse experts Payfoot
Dubai, UAE [13th October 2022]: Dubai Marina provided the stunning backdrop for the signing of a Memorandum of Understanding between CoinMENA Investment Holding, their partners Advanced Technology Fund and Aventurine, and Swiss metaverse innovators Payfoot.
The partnership was announced during the ongoing GITEX Global 2022 technology exhibition at the Dubai World Trade Centre and it marks a major step towards bringing the global passion of football into the metaverse. The metaverse market is expected to grow rapidly in the coming years, reaching a predicted value of more than US$3trillion by 2030.
Riyadh-based investment holding company CoinMENA is passionate about advancing innovative technologies and has already supported projects in diverse industries such as Aviation, Defence and Manufacturing. The new partnership with Payfoot is a natural progression of their commitment to the Saudi Vision 2030, which has recently seen CoinMENA IHC supporting several projects with Saudi sporting organizations.
Payfoot is a Swiss digital currency and social engagement platform which connects the global football community in a way that has never been seen before. Through the power of the Payfoot football metaverse, football clubs will be able to build online stadiums and share content with their fans. Meanwhile, football fans can use the Payfoot metaverse currency C-Foot to shop in their favorite club’s store or to buy tickets to events live and in the metaverse.
The new project will also be supported by Aventurine, the Dubai-based IT company which specializes in technologies ranging from gaming development to cyber security. Their cutting-edge systems will allow the Payfoot metaverse platform to securely deliver the most advanced and exciting football content for fans to enjoy.
The Memorandum of Understanding signed between CoinMENA IHC and Payfoot in Dubai signifies a bold new strategy to develop local partnerships with major clubs and football organizations in KSA, UAE and the GCC region. This visionary project will use the power of metaverse technologies to digitally revolutionize the football world and bring maximum enjoyment to the online football community.
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