Dubai unveiled the Dubai Metaverse Strategy, a digital transition plan

Dubai unveiled the Dubai Metaverse Strategy, a digital transition plan

The Dubai authorities have launched the Dubai Metaverse Strategy program. This was announced on his Twitter page by Crown Prince Hamdan bin Mohammed Al Maktoum. He added that there are now more than 1,000 companies in the sector, and they bring more than $500 million in revenue to the budget.

Hamdan bin Mohammed 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. pic.twitter.com/J1XRmd2ub3 / 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. pic.twitter.com/J1XRmd2ub3

The Dubai Metaverse Strategy program includes such plans:

  • Increase the number of blockchain companies fivefold in 5 years.
  • Create 40,000 virtual jobs.
  • Become number one in the region and become one of the 10 most developed cities in terms of metaverse.
  • Increase revenue from the sector from $500 million to $4 billion.
  • Create reliable mechanisms for storing digital assets.

The authorities plan to finalize all issues with the legislative framework, the government has a 60-day deadline to do so. By the way, the state bodies themselves will also open some of their offices in virtual space. Now they are looking for developers who will help implement such an idea.

Many metaversus-projects will relate to business. For example, Dubai plans to digitize the services of construction companies. It will look something like this: the customer first “flies” over the digital city and looks at objects. Then, according to his taste, he creates a house in the metaverse and arranges it. And then he commissions a development company to build a copy in the real world.

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