The recent launch of Dubai’s Metaverse Strategy by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, and Chairman of The Executive Council of Dubai, positions the city as a global pioneer offering the world’s most advanced and connected ecosystem where the metaverse community can thrive in a dynamic and enabling environment.
The move consolidates Dubai’s status as a global capital of advanced technologies, primarily artificial intelligence (AI) and Web3. Dubai’s progressive regulatory environment and a world-class technological infrastructure that meets the evolving needs of international players have attracted several big names in the world of Web3, including cryptocurrency platforms, blockchain companies, and tokenisation firms.
Dubai is already home to over 1,000 companies in the metaverse and blockchain sector. As the city attracts new players, the sector’s current contribution of $500 million to the UAE’s economy is estimated to increase significantly. The Dubai Metaverse Strategy aims to support more than 40,000 virtual jobs by 2030 and add $4 billion to Dubai’s economy in five years.
The emirate is rapidly making headway with its metaverse strategy, announcing the formation of a Higher Committee for Future Technology and Digital Economy chaired by His Highness the Crown Prince of Dubai. The objective of the Committee is to consolidate Dubai’s status as a global digital economy hub.
The Committee will design policies, analyse trends and...
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