📍 Las Vegas, NV, USA. on 23rd Oct 2022 at 00:00
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The city of Dubai, the most populous metro center in the United Arab Emirates (UAE), is launching a metaverse initiative that promises to create 40,000 new jobs by 2030 in the virtual reality multiverse named for its fictional counterpart.
The Dubai Metaverse Strategy is spearheaded by H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, crown prince of Dubai and chairman of Dubai Executive Council. The aim is to position Dubai as one of the top 10 metaverse economies in the world and a global metaverse hub.
It is not the first time Dubai has announced an ambitious initiative with emerging technology. In 1999, Dubai established a plan to make itself the smartest city in the world. At first, it was a humble effort, but over time Dubai grew more aggressive and intentional in its efforts to become smart city. For example: In 2001, all government services were migrated to the internet. In 2013, Dubai launched its Smart Government website. By 2017, the city was fully committed to becoming the world’s leading smart city by 2021.
Since its inception, Dubai has launched more than 130 different initiatives in its efforts to become the world’s leading smart city. These initiatives include many emerging technologies, such as artificial intelligence (AI), blockchain technology, and digital currency.
The Dubai Metaverse Strategy is an extension of Dubai’s goal to become the smartest and the happiest city in the world.
As a part of its initiative, Dubai wants to attract at least 1,000 companies to the city to build its metaverse infrastructure. The Motley Fool says the strategy could benefit the Solana blockchain, which already has a presence in Dubai.
The Crown Prince of Dubai plans to make several emerging technologies key components of the Dubai metaverse, including AI, blockchain technology, Web3 tools, virtual and augmented reality, 5G wireless technology, edge computing, machine learning, the internet of things, and non-fungible tokens.
The Dubai Metaverse Assembly will debut this September at the Museum of the Future in Dubai and will feature hundreds of metaverse experts from around the world. Dubai and UAE plan to pour millions of dollars of investment into the city’s metaverse strategy and expects it to contribute an additional $ billion to the city’s gross domestic product within five years.