Dubai: Developing Strategy in Metaverse
Dubai Spearheading its Strategy on Metaverse
The Dubai Metaverse Strategy has recently undergone a new phase in order to boost the digital economy and facilitate the use of the metaverse and new technologies in the future.
This strategy was approved by the Crown Prince of Dubai, who is also the Chairman of Dubai’s Higher Committee of Future Technology Development and Digital Economy.
The goal of this strategy is to provide a framework for the development and use of the metaverse and new technologies in Dubai, helping to drive innovation and economic growth in the region.
By investing in and embracing new technologies, Dubai hopes to position itself as a leader in the digital economy and create a more connected and dynamic society. In July 2022, the Dubai Metaverse Strategy was introduced.
Overview of Metaverse
In short, the Metaverse is a virtual reality space where users can interact with each other and virtual objects and experiences in real-time, using their digital avatars.
Through the integration of social media principles, augmented reality (AR), virtual reality (VR), and blockchain, Metaverse offers venues for rich user interaction.
You may think of it as a 3D virtual environment with shared characteristics that are continually changing for all of its inhabitants, a virtual world with ongoing events and online infrastructure. Theoretically speaking, it captures everything occurring in reality and will deliver upcoming updates and happenings in real time. In a borderless virtual environment, the user is present.
Emirate: A Global Hub for Metaverse
The Dubai Metaverse Strategy intends to make the Emirate one of the top ten metaverse economies in the world as well as a global centre for the metaverse community.
The emphasis is on expanding on Dubai’s achievement of drawing more than 1,000 blockchain and metaverse companies.
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