In five years, Dubai hopes to be one of the top ten cities in the world in the metaverse economy, creating 40,000 virtual jobs and adding US$4 billion to the city’s economy.
- Crown Prince Sheikh Hamdan bin Mohammed announced the Dubai Metaverse Strategy on Monday, with the goal of encouraging innovation in new technology.
- According to him, the Emirati state is home to over 1,000 companies operating in the metaverse and blockchain sectors, which contribute US$500 million to the national economy.
- Bin Mohammed’s strategy entails tripling the number of blockchain and metaverse companies in five years.
- Dubai also intends to develop metaverse use-cases and applications for its government, as well as cultivate industry talent through education and training.