Yas Island, Aldar to launch metaverse in 2023

September 21, 2022

, By Team SNFYI

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Abu Dhabi’s Yas Island will launch a metaverse in the first quarter of 2023, according to an Arabian Business source.

According to the source, the project will be led by real estate developer and investment firm Aldar Properties, and Yas Island’s new metaverse will allow users to buy property in the always-on virtual space. The announcement comes as the UAE establishes itself as a hub for Web3 technologies. The metaverse is one aspect of Web3, and it is expected to provide users with new virtual worlds and experiences. Authorities in Dubai alone have already developed plans to significantly increase the metaverse’s contribution to the economy, up to $4 billion by 2030. The metaverse’s real estate has piqued the interest of investors, with virtual real estate being sold in the form of non-fungible tokens (NFTs).

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Yas Island, Aldar to launch metaverse in 2023

September 21, 2022

, By Team SNFYI

Abu Dhabi’s Yas Island will launch a metaverse in the first quarter of 2023, according to an Arabian Business source.

According to the source, the project will be led by real estate developer and investment firm Aldar Properties, and Yas Island’s new metaverse will allow users to buy property in the always-on virtual space. The announcement comes as the UAE establishes itself as a hub for Web3 technologies. The metaverse is one aspect of Web3, and it is expected to provide users with new virtual worlds and experiences. Authorities in Dubai alone have already developed plans to significantly increase the metaverse’s contribution to the economy, up to $4 billion by 2030. The metaverse’s real estate has piqued the interest of investors, with virtual real estate being sold in the form of non-fungible tokens (NFTs).

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.

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Previous News

UAE Central Bank is discussing initiatives to enable instant payments

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When you ‘dislike’ a video, YouTube keeps recommending similar ones, according to research

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