The Middle East is one of the fastest-growing gaming markets in the world. By 2025, more than 85 million gamers will be in Saudi Arabia, the UAE, and Egypt combined. Currently, 67% of Saudi Arabia’s population constitutes gaming enthusiasts.
To support the expansion of the gaming and blockchain industries in the kingdom, the Ministry of Investment of Saudi Arabia (MISA) has inked a preliminary deal with the South Korean video game developer Wemade.
The South Korean game developer signed an MOU with the ministry to work on a number of projects, including training programs, instructional materials, game localization, and sponsorship of local events.
“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,” a representative from the Ministry of Investment in Saudi Arabia said.
Earlier, Wemade, which has established offices in Abu Dhabi, partnered with Nine66, a subsidiary of Savvy Games Group.
MISA has been collaborating with foreign companies to facilitate investment and expansion projects in Saudi Arabia.
The kingdom’s gaming sector received $488 million in new funding in February. The Saudi Esports Federation, National Development Fund, and Social Development Bank contributed to the funding.
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