A range of innovations, including metaverse and augmented reality (AR) activations, non-fungible tokens (NFTs), gamer and fan loyalty solutions, and a gaming virtual Mastercard card will all boost Saudi Arabia’s billion-dollar gaming industry under a new partnership between Mastercard and the Saudi Esports Federation (SEF).
In line with the goals of Saudi Vision 2030, the two firms have inked a memorandum of understanding (MoU) to pioneer new and unique products, services, and solutions, and deliver them to gamers and consumers across the Middle East and North Africa.
The president for Eastern Europe, Middle East and Africa at Mastercard, Dimitrios Dosis, said: “We are delighted to partner with the Saudi Esports Federation (SEF). This historic agreement will help to showcase the new technologies that are playing important roles in transforming the kingdom into a leading hub for gaming and esports, and more broadly for business, tourism, leisure, and innovation.
“Together with SEF, we hope to curate special offerings, events, and engagements, using our technology to make payments easier for gamers and creating more immersive experiences and truly priceless moments for the people of Saudi Arabia and avid gamers from all around the world to enjoy.”
Gaming and esports have been identified as drivers of growth across Saudi Arabia, supporting the ongoing transformation of the nation’s digital infrastructure, economy, and society.
The chief operating officer of the Saudi Esports Federation, Ahmed Albishri, said: “From the very moment that the Saudi Esports Federation was established in 2017, we dedicated ourselves to organising world-class national and international tournaments and events — experiences that speak to the potential of the kingdom, its gaming community, industry and digital infrastructure.
“Today, we understand that it is decidedly important that we work with like-minded partners that share our values and aspirations to achieve our goals. As one of the world’s leading technology companies who are doing a lot to expand their work in the gaming industry, Mastercard is best placed to join us in our mission.
Albishri added: “Our collaboration will go a long way to doing that, attracting investors to the Kingdom, and creating more opportunities for more people across the country.”
Gaming and esports consumption in Saudi Arabia is expected to reach $6.8 billion by 2030, according to a recent report by Boston Consulting Group.
As part of the MoU, a digital asset enablement project will be launched in the kingdom, with Mastercard designing, developing, launching, and maintaining an augmented reality (AR) activation, along with its very own metaverse, in the coming years.
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