Gamer Pakistan, one of Pakistan’s pioneering technology and e-sports firms, made its historic debut on the US stock market, listing on the New York-based Nasdaq exchange. However, the initial excitement was met with a significant challenge as the share price experienced a dramatic decline of approximately 30 percent on Monday evening.
Gamer Pakistan, founded in 2021, positioned itself as a unique player in the burgeoning world of e-sports and gaming. The company successfully raised $6.8 million by selling 1.7 million shares at $4 each, despite the challenging market debut.
 The firm’s core areas of operation encompass game development, in-game AI community engagement, and the organization of e-sports events within Pakistan. Their vision includes tapping into the global e-sports market, which boasts nearly half a billion enthusiasts worldwide.
Gamer Pakistan has ambitious plans for the utilization of its newly acquired capital. It intends to build essential infrastructure, bolster e-sports tournaments in Pakistan, expand its workforce, acquire e-game developers, and provide working capital for ongoing operations.Â
Additionally, the company is eyeing a unique avenue for revenue generation by collecting data on the mobility patterns of college students in Pakistan related to video gaming and then selling this data in ad exchanges.
According to research cited by Gamer Pakistan in its securities filings with US regulators, an estimated 36.8 million Pakistanis engaged in video gaming in 2022, a figure projected to grow to 50.9 million by 2026. This growth potential has captured the attention of investors, despite the company’s financial accounts for 2022 showing a net loss of $0.31 million.
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Gamer Pakistan’s Nasdaq debut faced a bumpy start, witnessing a 30% decline despite its promising foothold in e-sports and gaming. With a focus on game development, AI community engagement, and local e-sports, the company aims to carve a niche in the expansive global e-sports landscape despite the challenging market reception.
Gamer Pakistan faced a challenging US stock market debut on Nasdaq, witnessing a sharp 30% decline in share prices despite raising $6.8 million. Established in 2021, the company focuses on game development, in-game AI community engagement, and organizing e-sports events in Pakistan. Despite the setback, Gamer Pakistan aims to tap into the expansive global e-sports market.