Dubai Tech Venture Firm Backs Blockchain to Revolutionise Gaming

UAE tech venture company Scalo Technologies is backing plans to integrate blockchain technology into mobile gaming, a trend that it believes will revolutionize the way games are played.

Rashit Makhat and Abdumalik Mirakhmedov, Co-founders of Scalo Technologies

Dubai-based Scalo has been working closely with mobile game developer and publisher Hexacore, one of its portfolio companies, on a new strategy built around blockchain giving players long overdue ownership of their in-game assets, and the time they devote to playing.

Hexacore, whose central team is located in Poland, has now fast-tracked development and publishing of its flagship space fantasy product, ‘Pocket Space,’ which boasts multiplayer modes and asset ownership mechanics.

“We believe that blockchain technology will usher in a new era of mobile gameplay experiences,” said Abdumalik Mirakhmedov, Director and Co-founder of Scalo Technologies, which led a US$3.5 million investment round for Hexacore earlier this year.

“By integrating blockchain into their gaming ecosystem, Hexacore intends to elevate the overall user experience, with the main focus on enhancing asset ownership, and the ease of in game transactions. This will not only make the game more exciting, but also increase a player's value to the game.”

The ‘Pocket Space’ community launch will take place in Q4 2023, with the soft launch scheduled for H2 2024 and the global release to follow in 2025.

One of the main problems for mobile gaming, which is forecast to be worth $160.6 billion by 2025, is that players are increasingly distracted by multiple entertainment options, and prefer shorter gaming sessions. Hexacore is tackling the challenge to retain their attention head-on.

“The strategy is to firstly embed a game IP across multiple platforms and media,” says Rashit Makhat, Director and Co-founder at Scalo Technologies, who have been working with Hexacore for almost two years.

“The IP of your game should be everywhere. Not just on smartphones and social networks, but also in cartoons, books, toys, clothing, on the streets, and even billboards."

“Then you have a higher likelihood that users will stick with you for the long term. In addition, strong community engagement will be another vital tool in retaining players, so we are focusing on community to provide a strong sense of belonging to a specific circle of people.”

Scalo and Hexacore see mobile games becoming the gateway for new web3 users, driven by the growing adoption of crypto wallets on smartphones, attracting investors and fostering innovation in gaming worldwide.

“Both traditional and web3-focused investors are now attracted to mobile gaming,” said Mikita Khazau, Co-founder and CEO of Hexacore. “This continuous influx of funds will drive innovation, creativity, and deliver new gaming experiences that captivate audiences across the globe."