Malaysia Digital Economy Corp (MDEC) and startup Acxyn are working to establish Malaysia as a worldwide gaming hub in order to draw foreign game studios and financial investment.
The partnership builds on MDEC’s metaverse strategy, which aims to shape Malaysia’s presence in the metaverse market and promote digital creativity on a bigger scale. MDEC is the government organization responsible for growing the digital economy.
MDEC has awarded RM750,000 to Acxyn, a Malaysian-based web3 firm that is assisting MDEC’s metaverse endeavor.
According to Acxyn CEO John Schneider, Malaysia is ideally situated to draw international game development companies.
“We are excited that MDEC shares our vision for a future in which game intellectual property (IP) can fully realise its economic potential and establish Malaysia as a hub for innovation and excellence in the gaming industry.
“These initiatives signify our vision of Malaysia as a global gaming powerhouse,” he told the reporters at a press conference.
He said that by fusing Acxyn’s “cutting-edge innovations” with MDEC’s expertise in digital transformation, the alliance marks a crucial turning point in Malaysia’s digital landscape.
Despite the US, China, and South Korea being the region’s gaming industry heavyweights, Southeast Asia, particularly Malaysia, is becoming increasingly popular.
According to anticipated growth trends, the third-largest gaming market in Southeast Asia, Malaysia, might be worth US$1 billion (RM4.69 billion).