Middle Eastern Gaming Startups Poised to Level Up Social Impact

The Middle East's burgeoning gaming industry is ripe for startups to create a positive real-world impact, according to a prominent tech investor. Abdumalik Mirakhmedov, Director and co-founder of UAE venture firm Scalo Technologies, believes developers can be both profitable and purposeful by integrating social good into their games.

"The power comes with responsibility, " Mirakhmedov emphasizes. "Founders who neglect social impact miss a golden opportunity to create value beyond entertainment. "

The global gaming market, currently valued at a staggering $282 billion, boasts 3. 32 billion active gamers and is projected to reach $363 billion by 2027. The Middle East and North Africa (MENA) region alone is home to a significant 80 million gamers.

While games have traditionally offered enjoyment, accomplishment, connection, and escape, Mirakhmedov highlights their evolving role. "Gaming is transforming into a platform for positive change, " he explains, "leveraging its immersive nature to tackle real-world issues. "

Established in Singapore in 2020, Scalo Technologies relocated its operations to Dubai last year, drawn by the UAE's thriving tech ecosystem. Among its investments is Hexacore, a mobile game developer specializing in Web3 titles that blend mobile gaming with blockchain technology.

Mirakhmedov argues that companies driven by a social mission attract both top talent and investments from backers who prioritize social consciousness. He cites research indicating that 70% of Generation Z gamers would switch to brands that champion social good causes.

"The gaming industry is undergoing rapid change, with sustainability initiatives becoming essential, " he observes. "By embracing social impact, startups can connect with a socially aware audience, unlock new markets, and ensure their businesses thrive in the long run. "

"Games can educate, foster understanding, and inspire action on critical issues like climate change, mental health, and cultural diversity, " Mirakhmedov concludes. "The potential to 'gamify' social good is incredibly exciting for impact-focused investors like ourselves. "