SNB, Mastercard, and Saudi Esports Federation partner to enhance gaming and esports in Saudi Arabia
SNB, Mastercard, and SEF will develop financial products and offerings focused on enhancing gamers' experience. The three entities will also create new experiences driven by Web3 technology.
Saudi National Bank (SNB) has entered into a strategic partnership with , a global payments and technology company, and the Saudi Esports Federation (SEF) to advance Saudi Arabia's gaming industry.
The move aims to further the country's digital transformation, improve its gaming and esports infrastructure, cater to its gaming community, capitalise on the potential of esports, and foster innovation to drive it.
SNB, Mastercard, and SEF will develop financial products and offerings focused on enhancing gamers' experience. The three entities will also create new experiences driven by Web3 technology.
The partnership also falls in line with SNB’s interest in creating an e-gaming community and sector in Saudi Arabia.
The digital community as well as experience is intended to provide an inclusive space for creators, collectors, as well as gamers. The community members will be facilitated to "access virtual creations and use in online games and immersive experiences", as per a press release shared by Zawya.
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Recently, Saudi Arabia's Crown Prince Mohammed bin Salman announced the launch of the Events Investment Fund that is aimed at developing a sustainable infrastructure for culture, entertainment, tourism, and sports in the country.
The fund will work towards creating strategic partnerships between the public and private sectors to develop local industry and enhance job opportunities. It is also aimed at increasing foreign direct investment (FDI) opportunities for a contribution of $7.45 billion, Arab News reported.
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Edited by Megha Reddy