Fast-growing esports company Galaxy Racer announced a new initiative in partnership with the Pakistani government under which the sports organization will host a $100,000 esports tournament in Pakistan.
Investing in Pakistan
Dubai-based esports organization Galaxy Racer became the first company to invest in Pakistan under the newly-established Special Technology Zone Authority (STZA) initiative that seeks to encourage foreign technology companies to invest in the country.
We are delighted to welcome Galaxy Racer group to Pakistan. At STZA we look forward to working with GXR in establishing a better and healthier video gaming environment for Pakistani youth and create an atmosphere of further investment and growth in this segment in Pakistan.”Amir Hasmi, Chairman, STZA
The deal that will see the first esports tournament in Pakistan televised nationwide via a partnership with Ten Sports Pakistan was signed in a special ceremony held in Dubai on Saturday. Attending were Pakistani President Dr. Arif Alvi and celebrity entrepreneur and Galaxy Racer CEO Fakhr-e-Alam.
Galaxy Racer appointed the celebrity entrepreneur to spearhead its efforts in Pakistan, looking to grow its local ecosystem as part of the company’s plans for expansion in South Asia. The push in the country followed the legalization of esports this year, granting it a “regular sports” status and opening growth potential for operators in a country featuring 100 million broadband subscribers.
With a global footprint of over 400 million followers and over two billion monthly views, Galaxy Racer is set to benefit from the growing in popularity esports market that is predicted to hit the $1 billion mark for the first time this year.
The esports tournament that will be launched under the STZA initiative will feature esports titles like Tekken, PUBGM and FIFA, and will offer a prize pool of PKR20 million ($120,000). It will take place in December and will also host an Influencer Con and a Toys and Gaming Festival to attract the focus of the entertainment industry in Pakistan.
This is the beginning of esports and influencer marketing in Pakistan. We are all set to take Pakistani gamers and influencers to the rest of the world. With a vibrant youth and huge digital growth, we will see a massive paradigm shift in gaming and content consumption in Pakistan. Galaxy Racer’s aim is going to be simple and that is to fuel this growth at lightning speed.”Fakhr-e-Alam, CEO, Galaxy Racer Pakistan
Galaxy Racer hosted the first-ever Fortnite esports tournament between Europe and the Middle East in July, in partnership with English Premier League star from Arsenal Pierre-Emerick Aubameyang. The tournament featured a prize pool of €10,000 ($13,600).
The esports organization also teamed with Spanish top-tier soccer league LaLiga in a 3-year deal signed in August that will see both organizations collaborate and create original content, featuring prominent LaLiga players and Galaxy Racer’s influencers.