Dubai Metaverse Strategy to benefit physical, virtual lives of people and businesses

July 23, 2022

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Experts explained that Dubai’s recently announced plan to increase the metaverse’s contribution to the economy to $4 billion by 2030 will benefit the emirate’s overall growth and improve residents’ lives.

The strategy, announced last month by Dubai Ruler Sheikh Mohammed bin Rashid Al Maktoum, aims to increase the metaverse’s contribution to 1 percent of the emirate’s overall GDP. The strategy, led by Dubai Crown Prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, is based on five pillars: innovation, government implementation of metaverse technologies, talent development, and community engagement. According to Bas Lemmens, general manager EMEA for blockchain data platform Chainalysis, these pillars have been “rightly earmarked,” and he applauded the government’s proactive efforts to “pioneer new digital frontiers” in metaverse revolution.

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