One of the leading crypto hubs in UAE, Dubai, is ramping up its metaverse efforts by launching a Dubai Metaverse Strategy with an aim to become one of the world’s top 10 metaverse economies. Pertaining to this strategy, Dubai will require the help of more members and will hire over 40,000 users globally.
This decision and the launch were headed about by the Vice President, Prime Minister, and the Ruler of Dubai, H.H. Sheikh Hamdan Bin Mohammed bin Rashid Al Maktoum. He hopes to transform Dubai into a global tech capital and focus primarily on building services related to Web3 and Artificial Intelligence.
Dubai Metaverse Strategy
The Dubai Metaverse Strategy also aligns with the objective of the United Arab Emirates AI Strategy to enhance the nation’s present situation and help it become one of the leading countries in the world in futuristic sectors by investing in new technologies.
The Dubai Metaverse Strategy will also include a research and development avenue where it will collaborate with projects and companies to enhance the metaverse’s economic contribution to the country. The country will also utilize incubators and accelerators to attract projects and companies from abroad. Another important focus of the initiative will be to provide support in metaverse education to the developers, content creators, and users of digital platforms in the metaverse community.
The strategy’s framework will also include new models for several government sectors such as tourism, education, retail, remote work, healthcare, and the legal sector. The key pillars for the new models will be extended reality, mixed reality, virtual reality, and augmented reality.
To ensure high-speed connectivity, the strategy will promote the development of 5G networks and enable edge computing that would allow the data to be stored, collected, and processed locally using smart devices and local networks rather than the cloud.
To initiate the strategy, Dubai Virtual Assets Regulatory Authority has already issued and extended the virtual assets licenses for several crypto platforms, including Crypto.com, Huobi, and OKex.