Galaxy Racer, a Dubai-based e-sports, gaming and lifestyle organization, is expected to invest MYR 42 million (USD 10 million) within the next five years to develop the e-sports ecosystem in Malaysia. Parts of the investment plans include organizing e-sports competitions and events, as well as building a new regional headquarters for the Asia Pacific in the country. To position Malaysia as its regional digital hub, the upcoming headquarters will be focusing on six business verticals namely content, e-sports teams, content creators, e-sports and gaming events, merchandising, a music label and an animation studio, with high-income jobs expected to be created for the locals.
The cooperation between the organization and Malaysia’s government was made official by an MoU signed during the Dubai Expo 2020. Galaxy Racer was founded in 2019 and is the largest e-sports, gaming and lifestyle organization in the world, with over 100 content creators across Southeast and South Asia, the Middle East, North Africa and Europe. The organization has over 500 million followers and has amassed over 2.5 billion monthly views since its inception. It was one of the participating companies in the Malaysia Digital Economy Week, launched at the Expo 2020 Dubai by Communications and Multimedia Minister Tan Sri Annuar Musa last January.
Galaxy Racer’s Founder and CEO Paul Roy noted that the organization believes in Malaysia’s vision through MDEC to become a high-value-added economy and a net exporter of home-grown technologies and digital solutions. The company plans to set up a world-class visual effects (VFX) animation studio in Malaysia, in acknowledgment of the country’s position as a hub for VFX animations studio, and their confidence in the country’s diverse talent pool to tap into.
(Sources: MIDA; Galaxy Racer; Esports Insider)
