Dubai is on its way to becoming one of the world’s top 10 metaverse economies under the Dubai Metaverse Strategy, by supporting over 40,000 virtual jobs. The strategy is expected to add $4 billion to the city’s GDP in five years.
The Crown Prince of Dubai and Chairman of Dubai Executive Council Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum announced the launch of the strategy on Twitter on Monday, stating its objectives and pillars. “Dubai is home to over 1,000 companies operating in the metaverse and blockchain sector, which contributes $500 million to our national economy,” he tweeted.
Dubai-based crypto company GroveToken Dubai LLC’s CEO Yahya 'John' Ghemrawi has been appointed the Managing Director of the as-yet-unnamed project.
This announcement comes after Sheikh Butti Al Maktoum announced an official partnership with the Crypto company on July 4.
In another tweet, Sheikh Hamdan Bin Mohammed announced the Dubai Metaverse Assembly in September, which will be hosted by the Museum of the Future.
The assembly will be held on September 28 and 29, and “is a global platform for innovators forging the future of the metaverse” as per his tweet. He also said that participants will be able to experience “extraordinarily advanced technology”.
According to the Khaleej Times, the city’s biggest companies are already stepping into the metaverse. Emirates has said it will expand its use of the technology, while Damac Group plans to build digital cities. Healthcare firm Thumbay will roll out a hospital in the metaverse for virtual consultations over the next few months.
