The Saudi Esports Federation (SEF) has announced the signing of a Memorandum of Understanding (MoU) with American multinational financial services corporation, Mastercard.
The agreement, according to a statement by the SEF, will see both organisations work together to promote Saudi Arabia’s billion-dollar gaming industry.
Together with the Federation, the leading global technology company will pioneer new and unique products, services, and solutions for gamers and consumers across the Middle East and North Africa.
Statement from the Saudi Esports Federation
Both entities will also collaborate on a range of projects, including Metaverse and Augmented Reality (AR) activations, NFTs, and fan loyalty programmes. Mastercard is also set to launch a virtual card specifically for gaming.
Dimitrios Dosis, President, Eastern Europe, Middle East and Africa, Mastercard spoke on the agreement stating that he is delighted to partner with the SEF.
“We are delighted to partner with the Saudi Esports Federation (SEF). This historic agreement will help to showcase the new technologies that are playing important roles in transforming the Kingdom into a leading hub for gaming and esports, and more broadly for business, tourism, leisure, and innovation.”
“Together with SEF, we hope to curate special offerings, events, and engagements, using our technology to make payments easier for gamers and creating more immersive experiences and truly priceless moments for the people of Saudi Arabia and avid gamers from all around the world to enjoy.”
Chief Operating Officer of the Saudi Esports Federation (SEF), Ahmed Albishri stated that the SEF is looking forward to working with Mastercard who he says is best placed to join them in their mission to transform the Kingdom into a leader in the gaming industry.
“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.”
“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 SEF is the regulating body in charge of nurturing elite gaming athletes and developing the gaming community and industry in Saudi Arabia.
Since its establishment in late 2017, the federation has organized multiple world-class national and international esports events and has attracted investment from local private sector actors and worked with international developers on opportunities in the Saudi market.