Dubai Metaverse strategy

October 17, 2022 by
Dubai Metaverse strategy

Dubai Metaverse Strategy

All you need to know about the Dubai Metaverse Strategy

The Dubai Metaverse Strategy is a framework brainstormed by the Dubai Executive Council led by the Chairman and Crown Prince, Sheikh Hamdan bin Mohammed Al Maktoum to position the country as a forward-thinking destination that will explore and exploit the benefits that the Metaverse will provide in the future.

The Metaverse, a digital virtual world where virtual assets’ users and owners network and interact for different reasons like online gaming, business transaction, real estate, personal use, or event hosting, has become increasingly relevant in the last few years globally. And it has made world leaders take notice and devise ways to leverage it to improve their economy, get market share, position their country as a technological leader and foster effective collaboration.

What are the benefits of the Dubai Metaverse Strategy?

According to Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, the Crown Prince of Dubai and Chairman of the Dubai Executive Council, here are the benefits of the Dubai Metaverse Strategy to the Kingdom.

  • Consolidate existing Dubai’s achievement of attracting more than 1,000 companies in the area of blockchain and Metaverse
  • Help achieve Dubai’s dream of generating more than 40,000 virtual jobs before 2030.
  • Support and promote web 3 applications and tools that help create innovative government models and development across crucial sectors like healthcare, education, tourism, retail, and remote work opportunities.
  • Improve the economic contribution of the Metaverse through integrated research and development collaborations, and stimulate improved ecosystems by supporting incubation hubs and accelerators that attract innovative projects to Dubai.
  • Investment in future innovation by providing vital support to accelerate Metaverse education directed at helping content creators, developers, and users of digital platforms in the Metaverse sphere.

Impact on Dubai

Dubai’s Metaverse Strategy’ will help accelerate the positioning of Dubai as the global destination of advanced technologies and projects, majorly AI, Web3, and machine learning. Also, the Metaverse and Small business will get even better coverage and encouragement and will benefit a lot in the Dubai Metaverse Strategy.

Furthermore, it will help generate more than 40,000 virtual jobs for the people of the Emirate and add more than $4b to the Metaverse economy amongst others.

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