Mastercard and the Saudi Esports Federation (SEF) have signed a Memorandum of Understanding (MoU) to help promote the Kingdom’s billion-dollar gaming industry. Mastercard and SEF will collaborate on a range of innovations, including Metaverse and Augmented Reality (AR) activations, Non-Fungible Tokens (NFTs), gamers and fans’ loyalty solutions, and a gaming virtual Mastercard card.
In line with the goals of Saudi Vision 2030, the strategic partnership will bring the leading global technology company together with the Federation to pioneer new and unique products, services, and solutions, delivering them to gamers and consumers across the Middle East and North Africa.
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. 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.
Dimitrios Dosis, President, Eastern Europe, Middle East and Africa, Mastercard, 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.”
Ahmed Albishri, Chief Operating Officer, Saudi Esports Federation, said: “From the very moment that the Saudi Esports Federation was established in 2017, we have dedicated ourselves to organizing 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. 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.”
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.