Dubai’s Majid Al Futtaim has announced it will open the Mall of the Metaverse.
The announcement was made on the sidelines of the World Government Summit in Dubai.
The mall of the Metaverse will be a virtual shopping mall and be the home of the retail giant in the Decentraland universe.
Decentraland is a blockchain-based virtual world that allows individuals and organisations to create, experience, and monetise their own content.
In Decentraland users can create and trade their own virtual assets, such as land and digital art, and can participate in a range of activities within the world, from gaming to socialising.
Majid Al Futtaim’s Mall of the Metaverse will include virtual Carrefour, That Concept Store, Ghawali and Samsung outlets as well as a virtual reality VOX cinema space.
More brands are currently being planned to join the virtual reality metaverse space.
Khalifa Bin Braik, CEO of Majid Al Futtaim Asset Management, said: “For us at Majid Al Futtaim, it is key to keep an eye on user and shopper behaviours and how they evolve overtime. We want to find new ways of creating memorable moments every day – and we’re ready to deliver that even on a network of platforms as huge as the metaverse.
“Our Mall of the Metaverse will be yet another one of our leading retail and entertainment destinations — and surely a huge attraction for customers who crave digital experiences from their most loved brands”.