Saudi Arabia Wants to Lead Blockchain Gaming Initiatives
In a recent statement, a representative from the Ministry of Investment in Saudi Arabia said:
We are very excited for Wemade’s progress in expanding its activities in Saudi Arabia and are looking forward to continuing supporting Wemade’s footprint through connecting it to strategic partners in the sector. This progress would be yet another step further into realizing the national objective of becoming a hub for gaming and e-sports in line with the national gaming and e-sports strategy.
The goal is to ensure Saudi Arabia remains a global hub for both expansion initiatives and investments. One way to do this is to garner business opportunities through foreign nations. South Korea has long been a leader in both the crypto and blockchain arenas, and representatives are confident individuals working with Wemade will bring the knowledge and expertise the nation’s leaders are looking for to the table.
Wemade has been at the center of several partnerships over the past few months. Back in February, for example, the company teamed up with Savvy Games’ Nine66, which was supported through a public investment fund. The goal is to ensure training and educational content are available to future generations of blockchain gamers and that regional events get the sponsorship opportunities and funds they seemingly deserve.
Charles Huh – global investment officer at Wemade – explained:
As the demand for games and blockchain technologies continues to grow in Saudi Arabia, we are committed to showcasing our capabilities and delivering innovative solutions that meet their needs. We believe that our partnership with [the Saudi ministry] will not only benefit both parties, but also create new opportunities in the global game industry.
Wemade was founded in the year 2000 and has brought many prominent gaming titles to market including the “Legend of Mir” series, which is presently enjoyed by more than 1,000 individual gamers across the globe. Another prominent product established by the firm is Wemix.
Expansion Over the Next Seven Years
The gaming world in Saudi Arabia is expanding like nobody’s business. The region is the leader of the Arabian economy, and it’s estimated that the gaming sector of the nation will grow by as much as 250 percent through the year 2030. These results stem from a recent YouGov poll, which also believes that e-sports will lead to this expansion.
Said growth would also mean that the GDP of Saudi Arabia will likely surge by at least 50 times over the next seven years, and by that year, gaming consumption could be just under $7 billion.
NICK MARINOFF(2023.06.05) “Saudi Arabia and South Korea Join Hands to Establish More Blockchain Gaming”
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