Abu Dhabi is taking significant strides to establish itself as a regional gaming hub, with the launch of a $150 million venture fund, Beam Ventures. The fund, based within the Abu Dhabi Global Market (ADGM), will focus on investing in early-stage web3 gaming and AI startups. The launch will come in the first half of 2025.

“A few months ago, we went on a first exploration trip. Soon after, we shook hands with the best parties to make Beam Ventures happen,” said Mark Borsten, Chief Strategy Officer at Beam, in a post on X. “Today, we are finalizing the licensing process and can be more forward-facing with the fund and accelerator very soon.” Borsten added that the project is awaiting regulatory approval to begin operations in Abu Dhabi.

Beam leverages blockchain technology to provide a sovereign network for game developers, enabling the creation of games where players can own in-game assets. The platform currently features around 20 games.

“Over the past three years, we have built a robust gaming infrastructure in Abu Dhabi, and establishing a dedicated gaming fund is a crucial step in ensuring that this ecosystem continues to thrive,” said Saeed Al Fazari, Strategic Affairs Executive Director at the Department of Culture and and Tourism—Abu Dhabi.

Abu Dhabi’s gaming push comes as regional competition intensifies, with Saudi Arabia emerging as a key player, backed by its $925 billion Public Investment Fund (PIF).

The emirate’s efforts include the 2021 launch of the Abu Dhabi Gaming initiative, which aims to develop a self-sustaining gaming and e-sports ecosystem. Earlier this year, plans were unveiled to develop a private island dedicated to gaming.\

Led by True Gamers, the $1 billion island project will feature attractions such as a PUBG-inspired parachute jump, a high-end training facility for professional gamers, and an arena for hosting major e-sports events, further cementing Abu Dhabi’s commitment to gaming innovation and entertainment.