Metaverse News

Mastercard Agrees To Partnership With Saudi Esports Federation

Mastercard and the Saudi Esports Federation have signed a Memorandum of Understanding to promote and grow the gaming industry in the Kingdom. As part of the agreement, both parties will collaborate on a range of innovations, products, and services, including metaverse and augmented reality activations, NFTs, gamers and fans’ loyalty solutions, and a gaming virtual Mastercard card.

“From the very moment that the Saudi Esports Federation was established in 2017, we dedicated ourselves to organizing world-class national and international tournaments and events — experiences that speak to the potential of the Kingdom, its gaming community, industry and digital infrastructure,” said Ahmed Albishri, Chief Operating Officer of the Saudi Esports Federation. “Today, we understand that it is decidedly important that we work with like-minded partners that share our values and aspirations to achieve our goals. As one of the world’s leading technology companies who are doing a lot to expand their work in the gaming industry, Mastercard is best placed to join us in our mission. Our collaboration will go a long way to doing that, attracting investors to the Kingdom, and creating more opportunities for more people across the country.”

The Memorandum of Understanding also looks further into the future, where both organizations will work to launch a digital asset enablement project in the country, with Mastercard designing, developing, launching, and maintaining an augmented reality activation, along with its very own metaverse.

(All information was provided by ZAWYA)

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