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

July 23, 2022

Share via:

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.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Previous News

BYJU’S Divya Gokulnath calls BCCI dues reports “Hearsay”

Next News

Centre requests DPIIT to develop an ONDC-compliant tool for local businesses

Sreejit Kumar

Hi, I'm Sreejit Kumar, a journalist with a Master's degree in Journalism. Through my education and professional experience, I have developed a keen eye for detail and a passion for uncovering the truth. As an author for this news website, I am committed to delivering accurate, timely, and engaging stories that inform and entertain our readers.