Animoca Brands opens its first Middle East office

Hong Kong-based Web3 game developer Animoca Brands has opened its first Middle East office in Dubai, United Arab Emirates.

This expansion aims to meet the increasing interest from Web3 organizations in the region.

The company has appointed Omar Elassar as managing director for the Middle East and head of global strategic partnerships.

Elassar will oversee regional operations and work on enhancing Animoca Brands’ presence through partnerships and innovation initiatives.

Elassar has extensive experience in the Web3 sector, having worked with firms such as Polkadot and Ripple. His background also includes roles in technology and financial advisory at Oliver Wyman, Deloitte, and Morgan Stanley.

🔗 Source: Animoca Brands

🧠 Food for thought

1️⃣ Animoca maintains consistent expansion strategy focusing on established IP and regional hubs

The expansion into Dubai continues Animoca’s long-established pattern of strategic growth through regional hubs and IP partnerships dating back to its origins.

When Animoca first spun off its gaming business in 2014 to create Animoca Brands, it specifically focused on licensed content including partnerships with IPs like Garfield, Ben10, and Doraemon 1.

This approach of leveraging established brands continued with major licensing deals such as their 2018 Atari partnership ($250,000 minimum guarantee) to develop blockchain versions of popular games like RollerCoaster Tycoon 2.

The company’s acquisition strategy further supports this approach, evidenced by their $7.69 million acquisition of nWay (which held Power Rangers licenses) in 2019 and their €1 million acquisition of Stryking (which had Bundesliga and Bayern Munich partnerships) the same year 3 4.

The Middle East expansion represents a continuation of this strategy: establishing regional presence, forming local partnerships with recognized brands, and applying their blockchain integration expertise to bridge traditional markets with Web3 opportunities.

2️⃣ Middle East emerging as a competitive battleground for Web3 companies

Animoca’s Dubai office opening signals the region’s growing importance as institutional players race to establish strategic footholds in the Middle East’s developing Web3 ecosystem.

Just one day before Animoca’s announcement, Faculty Group and Ghaf Capital announced their merger to form Ghaf Group, a dedicated Web3 advisory business focusing on the MENA region, demonstrating the competitive landscape forming in the area 5.