Sheikh Hamdan, the Crown Prince of Dubai and Chairman of Dubai’s Higher Committee of Future Technology Development and Digital Economy, has given the green light to the latest version of the “Dubai Metaverse Strategy.” The ultimate goal of the plan is to make Dubai a leading economy in the metaverse by growing its digital sector.
The Higher Committee of Future Technology Development and Digital Economy decided on the next step of the metaverse strategy at its first meeting yesterday. The Crown Prince said that the Committee’s search for new ways to advance technology and futuristic sciences “has a particular focus” on the metaverse.
Sheikh Hamdan has already given the go-ahead to four main Web3 strategies that aim to help Dubai become more innovative and digital. The main ideas behind the proposals are to use metaverse technology in government, study the social benefits of the metaverse, and give the council a plan for putting metaverse services into place.
Dubai is working on an ambitious new plan that aims to bring together investors, producers, users, startups, and metaverse businesses to create a thriving metaverse ecosystem there. Dubai needs to take a number of steps to become a global hub for metaverse events. One of these steps is to work together with private sector businesses.
In July, the government of Dubai announced their plans for the Dubai Metaverse Strategy. These plans include creating 40,000 digital jobs and adding $4 billion to the GDP of the emirate over the next five years. The first place to talk about the new part of the strategy was the Dubai Government Media Office.
The UAE wants to be at the top of the Web3 world
Dubai’s decision to move on to the next step of their Metaverse Strategy doesn’t come as much of a surprise. The United Arab Emirates (UAE) has been at the top of Web3 news all year long. Here are some of the latest news stories from the Middle Eastern country that wants to be the leader of the metaverse.
On May 14, 2022, in Dubai, Floyd Mayweather and Don Moore fought in the first-ever NFT boxing match. Global Titans Fight Series NFT holders got to watch the fight live, get exclusive 3D memorabilia, multimedia materials, an autograph from Mayweather, and more.
To continue, Binance NFT and Dubai’s Museum of the Future have recently worked together to release a number of NFT collections. In order to break new ground in the crypto and Web3 spaces, the museum is making a number of digital assets and metaverse goods.
As a final point, Dubai has been working on a metaverse strategy and plan to bring thousands of Web3 jobs and billions of dollars into the economy since February. The strategy’s focus on Web3 technologies will help retail, tourism, education, health care, and other fields.
Dubai isn’t the only place that is investing in Web3 and the metaverse. The country that makes oil, on the other hand, seems to be in the lead. The approval of the next phase of Dubai’s Metaverse Strategy shows that the city is making progress on its Web3 projects. We’ll be on the lookout for any new information about the case that comes out.
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