W Ventures to invest $50m in Middle East gaming and esports

W Ventures, a Dubai-based firm has announced that it will invest $50 million to develop the Middle East and North African esports and gaming ecosystem. The company will also launch the region's first online and offline gaming platform this year, in partnership with the brand engagement marketing agency, RedPeg. 

W Ventures chairman, Habib Wehbi, said regarding the project: 

“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.”

The MENA region hasn't fully capitalised on the esports industry's immense growth potential, but endeavours like W Venture's are trying to do just that. Numerous teams and organisations have begun to form in the region already, carving a place for themselves in the global industry. One such organisation is Yalla Esports that qualified for three international tournaments in China, Romania, and Spain.  

RedPeg CEO, Brad Nierenberg, also spoke on the deal: 

“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.”

W Ventures has stated that it will provide more details regarding the project in November. A boost of this magnitude will vastly improve the quality of competitors and events that emerge from the MENA region.