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MIDDLE EAST
GAMING START-UPS CAN MAKE THE WORLD A BETTER PLACE , SAYS TECH INVESTOR
Abdumalik Mirakhmedov , Director and Cofounder , Scalo Technologies
impact are missing a major chance to create value beyond entertainment .”
The global gaming market , currently valued at US $ 282 billion , is spiralling with 3.32 billion gamers expected this year . Projections see it reaching US $ 363 billion by 2027 , with the MENA region alone having 80 million gamers .
While games provide fun , accomplishment , connection and escape , Mirakhmedov said they have an evolving role . “ Games are transforming into platforms for positive change by harnessing their immersive capabilities to address real-world challenges ,” he explained .
Middle East start-ups in the booming gaming industry have the power to drive positive real-world impact , and a prominent tech investor says they should seize this opportunity to increase their significance .
Abdumalik Mirakhmedov , Director and Co-founder of UAE tech venture company , Scalo Technologies , says gaming start-ups are well-positioned to be both profitable and meaningful by considering their social impact .
“ With great power comes responsibility ,” said Mirakhmedov . “ Founders who don ’ t factor in societal
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GAMES ARE TRANSFORMING INTO PLATFORMS FOR POSITIVE CHANGE BY HARNESSING THEIR IMMERSIVE CAPABILITIES TO ADDRESS REAL- WORLD CHALLENGES .
Set up in Singapore in 2020 , Scalo Technologies chose to base its operations in Dubai last year in view of the UAE ’ s vibrant ecosystem . Among its investments is Hexacore , a mobile game developer and publisher specialising in hybrid mobile web3 games .
Mirakhmedov said mission-driven companies attract top talent and investments from socially-conscious backers , and he points to research which shows 70 % of Gen Z gamers would switch brands supporting social good causes .
“ The gaming industry is rapidly changing , with sustainability initiatives now crucial . By embracing impact , start-ups connect with a conscious audience , unlock new markets and future-proof their business ,” he said .
“ Games can teach , promote understanding and motivate action on issues like climate change , mental health and cultural diversity . The potential to ‘ gamify ’ social good is exciting for impact-focused investors like us .” �
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