saudi arabia – RE3W.IO

Robby Yung, CEO of Animoca Brands, reveals partnership with stc play to publish games in MENA region

admin — Sun, 14 May 2023 00:29:47 +0000

Animoca Brands and stc play have signed a memorandum of understanding (MoU) for a commercial agreement where both parties collaborate to publish video games in the MENA region, through the stc play platform and other distribution channels.

Yat Siu, the co-founder and executive chairman of Animoca Brands, commented:

“Partnering with stc play is a significant advancement of our expansion strategy in the Middle East. As one of the largest telecom companies in the region, stc provides access to several million business and retail users across its expansive service offerings.”

Bader Almarshoud, the head of stc play, replied:

“Following our strategy and as an extension of our venture into the gaming industry, we are glad to announce our collaboration with Animoca Brands to expand the gaming sector in Saudi Arabia by publishing video games in the MENA region using different distribution channels. This collaboration bridges the gap between the global and local games developing studios and its audience.”

Salwa Radwi, CEO of Nuqtah, Revealed Raise In Seed Funding From animoca Brands and Polygon

admin — Thu, 16 Mar 2023 19:31:25 +0000

Nuqtah just announced that it has raised a seed round of funding led by Animoca Brands with participation from Polygon.

Nuqtah is the first NFT marketplace in Saudi Arabia and the first to be licensed by the Ministry of Communications and Information Technology and the Ministry of Investment.

Nuqtah aims to empower its creators, businesses, and users to unlock the new opportunities that the web3 space offers to the region. Nuqtah allows individuals and businesses to easily build, deploy and monetize NFT collections without having to navigate complicated blockchain infrastructure.

Salwa Radwi is currently CEO of Nuqtah. She is an award-winning photographer, artist, and web3 and blockchain advocate. In 2021 she founded Nuqtah to serve as the first-of-its-kind blockchain technology provider and developer in the MENA region, making her one of the first female founders and CEOs in Saudi Arabia’s NFT landscape.

Chinese Esports Startup, VSPO, Received $265M Investment From Savvy Games Group

admin — Mon, 06 Mar 2023 00:48:46 +0000

Saudi Arabia’s Savvy Games Group has invested $265 million in VSPO, a Chinese esports startup specializing in tournaments, venues and production. VSPO said that Savvy Games Group, owned by Saudi Arabia’s Public Investment Fund, will now become VSPO’s single largest equity holder. VSPO said it plans to use the funding to expand its global business operations. The transaction from Savvy Gaming Group, which Saudi Arabia’s Public Investment Fund owns, is expected to close at a later date.

VSPO’s CEO, Dino Ying, stated:

“This is an exciting time in the global esports industry and we are delighted to be working with Savvy to grow the sector worldwide. The deal symbolizes a landmark commercial partnership between China, the world’s biggest esports market, and the Kingdom of Saudi Arabia, as it implements Vision 2030 to become a leading global hub for gaming and esports.”

Bain & Company Predict Game Industry Global Revenue Over The Next 5 Years To Grow By 50%

admin — Fri, 14 Oct 2022 23:09:45 +0000

In their most recent report, written by David Crawford (Leader of Bain’s Global Technology Practice), Bain & Company predicted that the game industry’s global revenue could grow by more than 50% over the next five years to $300 billion.

The industry growth is accelerating as a result of the heavy engagement of younger gamers (ages 13 to 17) who apparently spend about 40% more in video game environments than with any other form of media.

The report shows that consumer demand for games is growing as a result of three major factors: fast technological advances, increased metaverse-styled experiences/events, and new monetization models. Investors have caught on and have poured more than $240 billion into game investments since 2019.

Some of those highlighted investors include the likes of Netflix, Saudi Arabia, Embracer Group, Griffin Gaming Partners, Makers Fund, Galaxy Interactive, Tencent, Microsoft, Sony, Transcend Fund, Bitkraft, NetEase, Epic Games, and more.

You can download the full 92-page report from the Bain & Company website.