Global financial firm Mastercard has signed a new partnership with the Saudi Esports Federation (SEF). The new deal entails the SEF and Mastercard signing a Memorandum of Understanding (MoU) which is aimed to promote esports and gaming in Saudi Arabia.
The partnership will see the SEF and Mastercard work on a host of innovations, which will include Metaverse and Augmented Reality (AR) activations, NFTs, fans and gamers’ loyalty solutions and a virtual gaming Mastercard card. Additionally, a digital asset enablement project will also be launched in Saudi Arabia, with Mastercard launching, developing, designing and maintaining an Augmented Reality (AR) activation.
Dimitrios Dosis, President, Eastern Europe, Middle East and Africa, Mastercard, commented:
“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, added:
“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. 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.”
According to a report by Boston Consulting Group, gaming and esports consumption is expected to reach US$6.8 billion in Saudi Arabia by 2030.