RIYADH: Mastercard has signed an agreement with the Saudi Esports Federation to promote the gaming industry in the Kingdom, according to a press release.
Under the memorandum of understanding, Mastercard and SEF will work together on a range of innovations, including metaverse and augmented reality activations, non-fungible tokens, gamers and fans’ loyalty solutions, and a gaming virtual Mastercard.
The gaming industry in Saudi Arabia is expected to witness massive growth in the coming years, as a recent report by Boston Consulting Group has projected gaming and esports consumption in the Kingdom to reach $6.8 billion by 2030.
“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,” said Ahmed Albishri, CEO of Saudi Esports Federation.
Dimitrios Dosis, Mastercard’s president for Eastern Europe, Middle East and Africa, said: “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.”