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UAE Launches Dubai Metaverse Strategy

With the launch of the Dubai Metaverse Strategy, Dubai has proved to be the forerunner for the industry to grow.

Dubai has always been a centre of attraction. With its engineering marvels to breathtaking architecture, it has proved itself worthy of all the good things.

Regarding blockchain technology, Dubai has welcomed the crypto industry with open arms. It has become a haven and is leaving no stone unturned to be number one in that.

On Monday, Hamdan Bin Mohammed, the Crown Prince of Dubai, declared the launch of the Dubai Metaverse Strategy.

He wrote on Twitter, “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 $500 million to our national economy”.

Dubai Metaverse Strategy’s objective is to increase the number of blockchain and metaverse companies in 5 years to five times its current number.

Another objective is for the Metaverse to support 40,000 virtual jobs and add $ 4 billion to Dubai’s economy in 5 years.   

Last but not least is its objective to become number 1 in the region and one of the top 10 cities globally in terms of metaverse economy. 

Pillars of Metaverse strategy

1.To foster Metaverse innovation and economic contribution.

2.To cultivate Metaverse talent by educating and giving training

3. To develop Metaverse use-cases and applications in Dubai Government.

4. Also includes adoption, scaling and global advocacy of safe platforms.

5. Lastly, infrastructure and regulation refinement.

With the motive of promoting Metaverse, Dubai will also be hosting Dubai Metaverse Assembly from 28-29 September in the Museum of Future. 

The Assembly will host over 300 global experts, officials and policymakers with 40 global organizations specializing in Metaverse and its applications. 

Metaverse Galore

It isn’t the first time that Dubai has done something related to Metaverse. In June, UAE-based Thumbay Group announced the world’s first metaverse hospital to be launched in October. 

Not only that, but Dubai also hosted the world’s first wedding in the Metaverse. 

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