Galaxy Racer, a fast-growing esports organization has announced a new initiative. It has forged a partnership with the partnership with the government in Pakistan. Through the partnership, the esports organization will host a $100,000 esports tournament in Pakistan.

First investment in Pakistan

For the Dubai based company, this is the first investment in the country. There is also another first for the company. This is the first-ever investment by any sports company in the country under the Special Technology Zone Authority (STZA). The scheme is a newly established scheme that provides incentives to foreign technology investors to invest in the country. Through the deal, the first esports tournament would be televised in Pakistan. There would be a nationwide telecast through a partnership with Ten Sports Pakistan. Celebrity entrepreneur and Galaxy Racer CEO Fakhr-e-Alam and Pakistani President Dr. Arif Alvi were in attendance when the announcement was made.

Galaxy Racer expanding in South Asia

In order to gain a foothold in the region and in Pakistan, the company has appointed a celebrity entrepreneur. The company, through the appointment, has also planned to grow its local ecosystem in South Asia. The company has entered the country after esports were legalized in the country. The legalization of esports has the effect of granting it the status of regular sports. This will lead to the potential for opening growth for operators who are operating in the country. The country currently has a subscriber base of 100 million broadband users. The company has a global footprint of more than two billion monthly views as well as 400 million followers. The company expects an increase in revenue and profitability through an increase in popularity in the esports market. The esports market is expected to exceed $1 billion for the very first time in 2021.

Tournament prize

The esports tournament that will be launched after the initiative by the Special Technology Zone Authority (STZA) will host esports titles such as FIFA, PUGBM as well as Tekken. The prize money on offer for the tournament will be PKR 20 million that is equivalent to $120,000.