Senet launches ‘skill-to-earn’ platform in the Middle East

Senet launches ‘skill-to-earn’ platform in the Middle East

UK based ‘skill-to-earn’ gaming platform Senet announced that it will be expanding its services to the UAE and The Kingdom of Saudi Arabia, as part of its expansion plans in the MENA region. This will be stage one of their entrance into the rapidly growing Web3 gaming market in the Middle East.

Senet boasts a history of delivering games to more than 20 major game companies globally, having collaborated with esteemed entities including Skillz, Worldwinner, Burnghost, Qudo, and Winzo in previous engagements.

Senet’s focus on ‘skill to earn’ is yet another version of gamification of life, a niche trend among Web3 game developers. With sub-genres such as ‘run to earn’ and ‘play to earn’ becoming increasingly popular, Senet rather focuses on rewarding players through their expertise and skill level with their ‘skill to earn’ concept. Additionally, Senet’s offerings expand to a comprehensive esports platform that integrates their native token and reward mechanism – SENET token – up for grabs in a balanced, trusted environment that fosters fair play in competitive matchups.

The Middle East, UAE and KSA, in particular, have made great strides to become and establish themselves as a gaming hub over the last year. In fact, the gaming industry in the UAE is expected to see significant growth, with the revenue anticipated to reach US$392.20m by 2023. This represents a substantial increase in the market’s size. Furthermore, market penetration among the population in the region was 37.8% in 2022 with expectations to reach 40.7% by 2027. MENA’s gaming revenue is expected to reach $6 billion by 2027, nearly doubling from 2021, with the UAE and KSA taking the lead.

Mohsin Waqar, CEO at Senet System, said, “The MENA region is a hotbed for gaming, with players and developers taking advantage of an industry that wholeheartedly supports them. We are encouraged by the initiatives proposed by the countries in the region and look forward to contributing to the rapid growth of the gaming ecosystem in the Middle East. Currently, a major issue within Web3 gaming is the lack of users, and we believe that introducing a cryptocurrency reward system and a skill-based  system into a game application, will allow users who are unfamiliar with cryptocurrency to acclimatize easier”.

Waqar added, “Ultimately, with Senet entering this market, we are seeking to offer  our experiences to a broader player base that will not only grow our platform, but also give users prime gaming experiences”.

The Senet platform houses a variety of games with an emphasis on ‘skill to earn’ gaming experiences, all of which are free to play. Through the platform, game developers will be able to leverage Senet’s tools, and expertise in GameFi and DeFi to facilitate the integration of blockchain capabilities within their existing IPs. Users can exchange Senet’s native token with major cryptocurrency tokens, such as Bitcoin, and vice versa within the game directly, allowing for a seamless ‘skill to earn’ reward mechanism.

For more information about the Senet ecosystem, visit: https://senetsystem.com/

Leave a Reply

Your email address will not be published. Required fields are marked *

Vertiv Outlines Best Practices of High-Density Cooling for Data Centers

Vertiv Outlines Best Practices of High-Density Cooling for Data Centers

Mahmoud Abdelmoneim, Sales Director for Middle East, Turkey & Central…
How Generative AI Accelerates Digital Transformation

How Generative AI Accelerates Digital Transformation

Lori MacVittie, F5 Distinguished Engineer discusses the impact of…
Maintaining Balance Between Performance and User Experience

Maintaining Balance Between Performance and User Experience

Gaurav Mohan, VP, SAARC & Middle East, NETSCOUT, discusses that…
Microsoft reveals Top Three teams for Imagine Cup!

Microsoft reveals Top Three teams for Imagine Cup!

Today marks a pivotal moment in the 2024 Imagine Cup as Microsoft reveal…
OPPO collaborates with startups for tech advancements

OPPO collaborates with startups for tech advancements

Today, with 150 million startups worldwide and another 50…
TikTok awards women entrepreneurs in Riyadh

TikTok awards women entrepreneurs in Riyadh

TikTok MENA celebrated the conclusion of the second edition of…