Saudi Esports Federation Grows With Mastercard Partnership
Financial organisation, Mastercard and the Saudi Esports Federation (SEF) have signed a Memorandum of Understanding (MoU) to continue Saudi Arabia’s esports development.
The deal will see the pair collaborate on projects including non-fungible tokens (NFTs), fan loyalty programs, metaverse and augmented reality (AR) activations, with Mastercard also set to release a virtual gaming card.
The MoU will also see Mastercard launch a digital enablement project, which includes another AR activation as well as its own metaverse.
Saudi Esports Federation CEO, Ahmed Albishri, said: “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,” Albishri said.
Mastercard president Eastern Europe, Middle East and Africa, Dimitrios Dosis said the partnership is a historic agreement.
“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,” Dosis said.
“We are delighted to partner with the Saudi Esports Federation,” he said.
The news comes after the SEF announced the Gamers8 Festival, starting on 14 July, with a US$15 million (AUD$22 million) prize pool being divided among six different esports events and over 1,000 activities and attractions on offer for guests.
Additionally, according to the Boston Consulting Group, the Saudi Arabian gaming and esports industry will be valued at US$6.8 billion (AUD$9.8 billion) by 2030.