UAE-based W Ventures has announced that it will be investing $50 million, through its independent brand engagement partner RedPeg Middle East, to develop an online and offline gaming platform in the Middle East and North Africa (Mena). The platform aims to improve gaming in the region and support the local e-sports ecosystem.
“We see an opportunity to offer gamers in the region a completely unique and authentic experience, by providing them with the tools and infrastructure to be discovered and flourish in this growing global phenomenon,” said Habib Wehbi, chairman of W Ventures.
According to statistics from W Ventures, the e-sports industry is growing at a rapid pace and is projected to reach $196 billion in revenue by 2022 while the gaming industry in Mena is expected to be worth $4.4 billion by 2022.
“For the past eight years we’ve worked with publishers, endemic and non-endemic brands, influencers, developers, streamers and gaming communities across the United States and globally. By leveraging our extensive knowledge with our experiential marketing expertise, we’ll aim to create unforgettable experiences and expand career prospects for gamers in the Mena region,” said Brad Nierenberg, chief executive officer (CEO) of RedPeg.