Blockchain-enabled sports tech startup Fanera has partnered with the Saudi Arabian Ministry of Investment and is poised to relocate its headquarters to Riyadh. Through its fan engagement app, Fanera aims to empower football fans, enabling them to become content creators and influencers.
Blockchain-Enabled Sports Tech Startup Fanera Partners Saudi Government, Set to Relocate to Riyadh
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Setting New Industry Standards
Blockchain sports tech startup Fanera has partnered with the Saudi Arabian Ministry of Investment to transform the football fan experience in the kingdom, according to a statement. The partnership also includes Fanera relocating its headquarters to Riyadh, Saudi Arabia’s capital.
Fanera said it aims to solidify its presence in the Middle Eastern nation, which will host football’s biggest tournament, the World Cup in 2034. The company also wants to tap into Saudi Arabia’s growing market for football enthusiasts, according to the statement.
Mo Kilany, Fanera’s CEO, called the move to Saudi Arabia a strategic decision that aligns with the company’s broader goals.
“Expanding into Saudi Arabia is a strategic move that aligns with our mission to revolutionize football fan engagement globally. By integrating Web 3.0 technologies, we are not just enhancing the fan experience but also setting new standards in the industry. We are excited to contribute to the Kingdom’s vision of becoming a global sports hub,” Kilany stated.
According to a statement, Fanera’s fan engagement app aims to empower football fans to become content creators and influencers. The app will reward users for their interactions, fostering a vibrant community of football enthusiasts and potentially increasing competition.
To achieve this, the app leverages blockchain technology and non-fungible tokens ( NFTs) to allow fans to trade their content, ensure its authenticity, and create new revenue streams, the statement said. Fanera believes this ultimately aligns with Saudi Arabia’s vision for technological leadership and innovation.
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