Having launched the metaverse strategy on July 18, the crown prince of Dubai and chairman of the Dubai executive council has confirmed Dubai’s metaverse strategy to boost its economy in the coming years.
The strategy is set to create about 40,000 virtual jobs for Dubai citizens as well as contribute about Dhs4bn to its national economy in coming years.
According to Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, “We launched the Dubai Metaverse Strategy today, which aims to foster innovation in new technology. Dubai is home to over 1,000 companies operating in the metaverse and blockchain sector, which contributes $500m to our national economy.”
“With the early adoption of metaverse technology, Dubai seeks to become one of the top 10 metaverse economies and a global frontrunner in adopting digital solutions,” he added in his tweet.
Alongside this announcement, Sheikh Hamdan also disclosed the intent to launch the Dubai Metaverse Assembly, a global event that will bring together regional and international experts in Dubai to shape the future of the metaverse and explore its promise and potential applications.
The Dubai Metaverse Assembly will take place at the Museum of the Future and Emirates Towers on the 28th and 29th of September this year. The assembly will look into how revolutionary technology can be applied in several sectors for a better future and to improve people’s quality of life.
More than 300 global policymakers, experts, thought leaders, and decision-makers from 40 organizations will be hosted at the Assembly.
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Dubai Continuously Embracing Blockchain Technology
The Emirates is undoubtedly the leading country in its region when it comes to embracing and preparing for the metaverse.
Its government constituted a task force to track Dubai’s developments in the virtual economy earlier this year with a quest to leverage opportunities within the web 3 technology.
Also, more businesses in Dubai have been embracing the use of digital currencies through their adoption for payment for goods and services.
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