Dubai-based game developer iBloxx Studios has raised more than USD 5 mn to push its game StrayShot from the testing phase to commercial release, according to a press release. The capital will fund global marketing and distribution, live operations, continued updates, and work toward future console editions. The game is expected to incorporate blockchain-based mechanics that would enable ownership and trading of in-game assets. The startup counts Dubai Future Foundations among its local partners.

IN CONTEXT- iBloxx previously took part in the Dubai Program for Gaming 2033 (DPG33), an initiative launched back in 2023 that aims to make Dubai one of the world’s top 10 gaming hubs by 2033. DPG33 is aiming for the sector to contribute USD 1 bn to the Emirates, and, as of last summer, had seen over 60 firms set up shop in Dubai.

A lucrative sector: The initiative fits into a bigger Emirates-wide strategy to position the UAE as a gaming hub, with mega projects such as Wynn Resorts’ planned USD 3.9 bn gaming resort. Previous analyst estimates had put possible gaming revenues from casinos at USD 3-5 bn, while Bloomberg Intelligence previously predicted the gaming sector could contribute up to 1.3% of the UAE’s GDP and bring in roughly USD 6.6 bn.

Legislation has been quick to keep up, with the UAE issuing a national commercial gaming framework at the end of last year — the first GCC market to do so — as well as several gaming-related vendor licenses.

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