Dubai Prepares to Be a Hub for Metaverse, a Blockchain - News

Dubai Prepares to Be a Hub for Metaverse, a Blockchain – News

Dubai’s reverse strategy will boost regional and global economies as well as bring innovation to attract new companies and projects to the center of a modern technology city



The global market size for the metaverse will reach $1.6 trillion by 2030. – Freepik . image

Posted: Monday 26 September 2022, 5:05 pm

The metaverse and blockchain ecosystems are set to transform Dubai into a hub for innovation and give impetus to its strides to become a leader and build on its smart city status.

With the aim of striving to adopt innovative solutions, improve people’s lives and introduce positive social and economic changes, the Dubai metaverse strategy will boost regional and global economies along with bringing innovation to attract new companies and projects to the center of a modern technology city.

With its meticulously crafted regulatory framework, Dubai has already positioned itself as the global capital of Web 3.0 thanks to its new metaverse and blockchain technology.

The metaverse has unlimited potential to conduct activities in the digital space and is therefore the future of technology while the combined experience of Augmented Reality (AR), Virtual Reality (VR), spatial computing and sensory technology has huge potential to bring the world into our world. Fingertips.

“From retail shopping to healthcare and manufacturing, the metaverse is becoming pervasive in a myriad of industries. It is transforming industries by smoothly accelerating virtual operations and offering business opportunities to investors,” Prateek Rawal, Managing Partner, Ascent Partners.

The global market size of the metaverse will reach $1.6 trillion by 2030. Moreover, international companies such as Meta (Facebook), Microsoft, Google and Nvidia are just a few of the organizations that have significant investments in the metaverse. Mubadala, one of the world’s largest wealth funds, is proactively investing in the blockchain industry.

Building a space for metaverses

The UAE is already an emerging space for the metaverse, with more than 1,000 corporate headquarters in this sector in the country. Dubai Metaverse’s strategy plans to target $4 billion of the country’s GDP in the next five years and will create more than 40,000 virtual jobs in the Metaverse and Blockchain sectors by 2030. The sector currently generates around $500 million for the UAE national economy and is expected to grow significantly in the next years. The Dubai World Trade Center (DWTC) is a comprehensive area dedicated to virtual assets.

Metaverse, a leading innovation in the world of blockchain development, despite being in its infancy, promises to deliver a groundbreaking experience to millions of users and shake up the global economy and innovative landscape. The market opportunity to launch the metaverse could bring in annual revenues of over $1 trillion.

By enabling other technologies, blockchain creates a vibrant coexistence with advanced technology. From a buzzword to a global industrial and financial game-changer – it has undisputedly become a part of everyday life. Transparency, immutability, security and privacy – all the advantages of blockchain and crypto are in great demand, and are constantly discussed in the developer’s office and in the regulator’s office.

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> Metaverse, avant-garde innovation In the world of blockchain development, it promises to deliver a groundbreaking experience

> UAE already An emerging space for the metaverse, with more than 1,000 corporate headquarters in the country

> Dubai already It has established itself as the global capital of Web 3.0 with its new metaverse and blockchain technology

#Dubai #Prepares #Hub #Metaverse #Blockchain #News

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