Dubai wants to rank among the top ten metaverse economies and serve as a global hub for the metaverse community, according to a new strategy unveiled on Monday. The Dubai Metaverse Strategy seeks to capitalize on the success of the emirate in luring more than 1,000 businesses in the blockchain and metaverse industries.
Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, the Crown Prince of Dubai, predicted in a tweet that the metaverse would sustain 40,000 virtual employment and bring in $4 billion over the course of five years for Dubai. Additionally, it would promote the UAE government’s goal of tripling the number of blockchain businesses.
The emirate must maintain its “position as a hub delivering the most advanced ecosystem for the metaverse and as a trailblazer in adopting digital solutions globally,” Sheikh Hamdan emphasized.
He said that while “spending wisely in establishing capabilities and talent to create the region’s most robust and largest ecosystem for the metaverse community,” Dubai is making “huge gains” to strengthen its position as a worldwide testbed for metaverse technology.
Dubai wants to extend the influence of the metaverse on local and international economies by using emerging technology to develop new job patterns in crucial industries.
What’s the Dubai Metaverse strategy?
The Dubai Metaverse Strategy intends to build advanced ecosystems through accelerators and incubators that draw businesses and projects to Dubai, nurture innovation, and increase the economic contributions of the metaverse through R&D collaborations.
By providing the essential support for metaverse education aimed at developers, content creators, and users of digital platforms in the metaverse community, the approach places an emphasis on nurturing talent and investing in future potential.
The policy encourages the growth of Web3 technology and its applications to produce new work models for the government as well as advancements in crucial industries like tourism, education, retail, remote work, healthcare, and the legal field. In order to speed up the adoption of these technologies, the strategy also aims to create worldwide standards for creating safe and secure user platforms as well as metaverse infrastructure and regulations.