JobXDubai

Dubai is rapidly becoming a global hub for Web3 gaming, with the GameFi market size in the UAE expected to reach $1 billion by 2025. The region is witnessing a surge in investments and developments, with companies like Playnance deploying new technologies to make Web3 games suitable for mass audiences.

The unique and innovative environment in Dubai is triggering significant attention from venture capitals towards Web3 projects, with UAE-based game development startup Param Labs and Astra Nova, Saudi Arabia’s first Web3 RPG game, already securing significant funding. According to the Crypto Oasis Ecosystem Report, about 40% of Web3 games in the UAE are now under development and will launch in the next 12-18 months.

The number of game players in the region is projected to reach 88 million by 2026, with the industry expected to generate over $7 billion in total gaming market revenue in MENA that year. With the surge in the UAE’s – and the region’s – markets, Dubai is leading the crypto push in MENA, creating unique conditions for the development of GameFi.

Yaniv Baruch, COO of Playnance, said, “Dubai is a world-scale crypto hub and pushes other cities in the region to become the same, so global focus is what makes MENA-based games succeed.” He added that a good product built for an international audience resonates with players from this region, too.

Baruch highlighted the importance of technological advancements in Web3, such as account abstraction (AA) and layer-3 infrastructure, which are anticipated to have a significant impact on the future of Web3 gaming in the MENA region and globally. These advancements will make Web3 games suitable for the mass audience and help GameFi go mainstream.

The recent weeks saw announcements on some of the globally leading companies making their entry and rolling out ambitious projects in the UAE and the wider region, which industry insiders said could potentially dramatically transform the local Web3 and gaming scene. The key factor contributing to the growth of GameFi in the region right now is the significant attention from VCs toward Web3 projects.