An in-depth look into how the Dubai Metaverse Strategy is creating jobs, enhancing technology trends, opening up business opportunities, and improving the emirate’s economy.
The Dubai Metaverse Strategy, which was announced by the Dubai Ruler Sheikh Mohammed bin Rashid Al Maktoum earlier this month, aims to increase the contribution of the metaverse sector to the emirate’s economy to $4bn by 2030.
Headed by the Dubai Crown Prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, the Dubai Metaverse Strategy also intends to ensure that the metaverse increases its contribution to one per cent of the emirate’s GDP.
The metaverse is a three-dimensional, hyper-realistic, virtual-reality space where users interact with other users in computer-generated environments such as shops, learning environments, and meeting rooms, among others. It combines elements of social media, augmented reality, virtual reality, video games, and other advanced technologies.
Dubai Crown Prince Sheikh Hamdan bin Mohammed and Sheikh Maktoum bin Mohammed, the Deputy Ruler of Dubai, have now directed the formation of a task force to track the latest developments in the digital economy, including technology and metaverse trends, the state-run news agency, Wam, confirmed.
Sheikh Hamdan said: “The directives of Sheikh Mohammed bin Rashid to form a higher committee to supervise Dubai’s future technological developments reflect the importance of facing the future with an open mind. The move will help us fully understand reality and explore unique ideas that will shape a brighter future for Dubai and the UAE, maximising future business opportunities.”
